Telhio Credit Union in Columbus, Ohio, has promoted Derrick Bailey to be its next president.
The $1.3 billion-asset credit union also said Bailey is in line to be its next CEO, although the timing of that transition has not yet been determined.
Bailey most recently served as Telhio’s chief sales officer, leading all revenue-generating aspects, including consumer and business banking, consumer and business mortgage and FinTech program management.
“Our team is focused on an effective strategy that supports individuals and families and helps small and medium businesses create jobs that provide opportunities for local communities to thrive,” Bailey said in a press release Wednesday.
Bailey joined Telhio in 2013 as a commercial lender after earning his master’s in business administration at Capital University, and within six months commercial lending became the credit union’s top performing division. Three years later he joined the executive team.
“Bailey brings a wealth of knowledge, experience and enthusiasm that will help Telhio continue to grow and thrive into the future,” CEO Leslie Bumgarner said in the press release. “Under his leadership, the credit union has a bright future ahead.”
Telhio earned $2.4 million in the first six months of 2022, a 68% decrease from a year earlier, according to call report data from the National Credit Union Administration.