Retirement Announcement

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Headshot Paul S.

Paul Simons, President/CEO

Paul Simons, President/CEO of Credit Union 1 Announces Retirement

Nov. 21, 2019 — Paul Simons, President/CEO of Credit Union 1, headquartered in Illinois, also with branch operations in Indiana and Nevada announced his retirement effective year end 2019.  Paul spent the last 48 years serving in the credit union industry, the last 32 as President/CEO of Credit Union 1.  During his tenure as CEO/President, Credit Union 1 grew from $200 million in assets to its current $1 Billion asset size. Paul also served on the Board of Directors of Credit Union 1 since 1987 and will remain an active member of the Board after his retirement.

Prior to being named President/CEO, Paul served the credit union industry in a variety of roles. During his career, Paul has held positions on the Board of ESI, the supervisory committee of Mid-States Corporate Federal Credit Union, and as a liaison for NASCUS to Illinois state-chartered credit unions.

“Paul has been a great leader not only at Credit Union 1, but in the financial services industry during his entire tenure as CEO, serving on the State of Illinois Governor’s advisory committee for Credit Unions as well as serving on the Board for American Share Insurance Company (ASI), the private share insurance provider for Credit Unions in ten states.  Paul has been a tremendous asset to Credit Union 1 during his 32 years and we are thankful for everything he has done” said Dan Ricci, Chairman of Credit Union 1.

While the formal announcement is now being shared publicly, Ricci provided that Paul had shared his retirement plan with the Board nearly two years ago, allowing the Board of Credit Union 1 time to search and collaborate in naming his successor to start the 2020 year.  Please join us in thanking Mr. Simons for his dedication and leadership at Credit Union 1. Congratulations on his accomplishments and best wishes for his upcoming retirement.