Wright-Patt Credit Union (WPCU) announced today that President and Chief Executive Officer (CEO) Doug Fecher is retiring from his position, effective December 30, 2021.
The credit union’s Board of Directors has established a formal search committee to name a successor by year-end. Fecher joined WPCU in 1995 as Vice President of Lending. In 1997, he was promoted to Vice President/COO and served in that role before becoming President and CEO in December 2000.
Joseph Linsenmeyer, Chair, WPCU’s Board of Directors, said, “We thank Doug for the transformative contributions he has made for Wright-Patt Credit Union. His leadership and collaboration will be missed. The credit union weathered several global challenges under Doug’s leadership, and we relied heavily on his expertise throughout the Great Recession and again during the COVID-19 pandemic. Along with his many contributions, Doug has built a strong, respected, and valued management team. His extensive knowledge of the industry along with his unwavering commitment to helping people has positioned the credit union for future success. As a Board, we are committed to conducting a comprehensive search to identify the next CEO to execute our strategy and lead the credit union’s 1,200 employees, for the benefit of all of our stakeholders.”
WPCU has delivered a strong performance under Fecher’s leadership since 2000:
- Membership grew from 156,000 to 432,000
- Assets increased from $596 million to $6.7 billion
- Member Centers more than doubled from 16 to 34
- Created myCUmortgage, a wholly-owned mortgage lending and processing company
- Since 2008, WPCU has returned more than $83 million to members annually in the form of an end of year special patronage dividend
- More than 1,172 employees work at the credit union, up from 363
- With the creation of the Sunshine Community Fund, WPCU’s charitable giving arm, the credit union has raised over $2 million for area nonprofits
In 2020 alone, WPCU was honored with the following acknowledgments:
- Doug Fecher – Executive of the Year - Dayton Business Journal
- Financial Health Leader - Financial Health Network
- Fast 50 – named one of Dayton’s 50 fastest growing companies - Dayton Business Journal
- Best Bank/Credit Union in Ohio by Dayton Magazine
- Best Places to Work – Dayton Business Journal
- Healthiest Employer – Dayton Business Journal
- Top 5 Best Banking Apps - MagnifyMoney
- Best Bank/Credit Union – Best of Dayton Awards - Dayton.com
- Honorable mention for network security - Digital Defense
- A top 200 of the nation’s healthiest financial institutions - Lending Tree
“It has been an honor and privilege leading WPCU. Credit Unions are national treasures. I believe nothing else matters except the welfare of our members. All I ever wanted to do is to make sure I did what was right for all of our stakeholders – even in this fast-changing and highly regulated world,” Fecher said. “I am enormously proud of the credit union and what we have accomplished by always staying true to the legacy of cooperative principles and self-help. WPCU’s future is extremely encouraging, and I look forward to a smooth transition.”
Doug Fecher