121 Financial Credit Union named Bruce Fafard as the new President/CEO of the $500 million institution, announced 121 Board of Directors Chairman Eddie Clanton.
“We are extremely excited to bring on Bruce as the next visionary leader of our credit union. He has the experience and capabilities necessary to take 121 to the next level. 121 Financial is a well-established organization with a long history in Jacksonville. We have something special to offer our membership and Bruce will lead that charge.”
As the former President/CEO of Scient Federal Credit Union in Groton, Connecticut, Fafard’s background includes expertise in strategic planning, charter expansion and developing high-performance teams. He will begin as 121 Financial’s new President/CEO on May 4, 2015.
He will be taking over for Bill Braddock who has served as CEO of 121 for 28 years. He is credited with sustained growth at 121, steering the institution through the recession, increasing the number of branches to 13 and the number of members to 45,000, and recently, guiding the credit union through the merger with Duval Federal Credit Union.
“I have had a satisfying tenure at 121 Financial,” Braddock said. “We have done a lot of good things, and much of that is due to the outstanding team we have serving our members.
“The Board has done an excellent job in identifying and recruiting Bruce to assume the CEO role. I think 121 Financial will have continued success under Bruce’s leadership.”
121 Financial Credit Union offers full banking and loan services to any individual and small business located throughout Northeast Florida. Established in 1935, 121 Financial Credit Union has over 45,000 members.