University Credit Union Announces Appointment of New CEO

FOR IMMEDIATE RELEASE - University Credit Union (UCU), a financial cooperative dedicated to empowering university communities for 75 years, proudly announces the appointment of Richard Wada as its new Chief Executive Officer and President. This leadership transition marks an exciting new chapter as UCU continues advancing its core purpose: giving everyone in the university community a financial advantage.

UCU Board Chair, Norma Iadevaia, shared:

"The Board is excited to welcome our new CEO/President, Richard Wada. His strategic vision, deep commitment to member service, and passion for supporting university communities align seamlessly with UCU's core purpose and values. We are confident that under his leadership, UCU will continue to elevate the financial well‑being of our members and strengthen our partnerships across the higher education landscape."

Leadership Transition

Richard Wada joins UCU with a distinguished background in financial services and credit union leadership. His extensive experience positions him well to guide UCU into its next era of growth. Wada currently serves as Chief Lending Officer at Patelco Credit Union, the nation's 28th largest credit union, boasting $9.5 billion in assets and over 500,000 members across Northern California.

In his role at Patelco, Wada has successfully overseen the growth and performance of both consumer and commercial lending businesses. His track record demonstrates his ability to drive innovation and enhance member experiences. Prior to joining Patelco in 2018, Wada held significant executive positions within Citibank's global and North American retail banking divisions. He served as Global Head of Personal Lending and Head of U.S. Retail Consumer Lending.

Wada's earlier career includes product management and marketing leadership roles at American Express and the global advertising agency Saatchi & Saatchi. He holds a B.A. from Williams College and an MBA from Columbia Business School.

Vision for the Future

Richard Wada will guide UCU into its next era of growth-one centered on innovation, an elevated member experience, and deeper strategic partnerships across the higher education ecosystem. With a strong financial foundation and a reputation for exceptional service, UCU is poised to expand its impact and deliver even greater value to faculty, staff, alumni, students, and their families.

Wada's leadership style emphasizes collaboration and transparency. He is committed to fostering an inclusive environment where members feel valued and heard. This approach aligns with UCU's mission to empower the university community through tailored financial solutions.

UCU's Commitment to the Community

For almost 75 years, UCU has been dedicated to serving the university community. UCU offers a range of financial products and services designed to meet the needs of its diverse membership. These include:

• Checking Accounts: Convenient and accessible options for everyday banking.
• Savings Accounts: Competitive rates to help members save for their future.
• Loans: Affordable personal, auto, and student loans tailored to members' needs.
• Credit Cards: Rewarding options with benefits that enhance purchasing power.
• Online and Mobile Banking: User-friendly platforms for managing finances anytime, anywhere.

As UCU welcomes Richard Wada as the new CEO, the cooperative remains steadfast in its commitment to providing outstanding financial solutions. Wada's leadership will undoubtedly play a crucial role in shaping the future of UCU and its impact on the university community.

Media inquiries may be directed to:

Contact: Derek Knowlton
Email: dknowlton@universitycu.org
Phone: 800.UCU.4510

About University Credit Union: University Credit Union is a purpose-driven financial cooperative dedicated to providing a financial edge to the university community. Founded in 1951 by UCLA employees, UCU focuses on member-owner participation and returns profits to its members through better loan rates, higher savings rates, and lower fees. Today, serving over 58,000 members, UCU offers a range of financial products and services, including checking accounts, loans, and insurance, while emphasizing community support and financial education. Learn more at ucu.org.