(Van Nuys, CA, Feb. 26, 2007) - The Board of Directors for the Los Angeles Police Federal Credit Union (LAPFCU) has announced that G. Michael Padgett has been promoted to the position of President/CEO.
In his new position, Mr. Padgett will assume responsibility for operations and administration of the 43,000 member organization which addresses the savings and lending needs of the Los Angeles Police Department (LAPD) community.
"We are very pleased to announce Mike's promotion to this important role," explained Tyler Izen, Chairman of the LAPFCU Board of Directors. "In an exhaustive nationwide search of candidates, we found the ideal fit came from within, and we look forward to Mike's contributions in furthering the goals of the Credit Union."
"I am very honored to be leading this organization which serves a vital function for members of our LAPD," Mr. Padgett added. "We look forward to continuing to provide the best in products and services, backed by quality customer service, to members of our city's police force and their families."
Mr. Padgett, who has been with LAPFCU for over 20 years as Chief Financial Officer, has been instrumental in growing the Credit Union from $152 million to over $635 million in assets. During his tenure, he has been responsible for administration of all departments.
About LAPFCU
The Los Angeles Police Federal Credit Union (LAPFCU) is a member-owned cooperative established in 1936 to serve the financial needs of the sworn and civilian employees of the Los Angeles Police Department and their families. Headquartered in Van Nuys, California, with branches located throughout Los Angeles, LAPFCU has over $635 million in assets and more than 43,000 members. Membership is open exclusively to active and retired, sworn and civilian employees of the LAPD and their immediate families.
