Patelco President and CEO Ken Burns Announces Departure

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Following a record year, the credit union’s CEO will leave Patelco poised for success.

Patelco Credit Union, one of California’s largest credit unions with more than $3.9 billion in assets, announced today that Ken Burns will step down as president and CEO. Burns, who arrived at Patelco in 2009, will continue to lead the credit union over the next several months to ensure a smooth transition until a new president and CEO is secured.

“During Ken’s tenure, the credit union achieved its best performing year ever in 2012,” said Patelco Chairman Peter Hanelt. “We appreciate Ken’s leadership and his ongoing assistance during this transition.”

Over the last several years, Burns focused on implementing many new initiatives, from improving the risk management infrastructure to establishing a leading position in mobile banking, setting the stage for a positive turnaround that resulted in the organization enjoying a record financial year in 2012. Burns’ leadership paved the way for the credit union’s net worth to increase from 7.5 percent to over 11 percent, ultimately allowing the credit union to continue on its mission of returning value to the membership.

“I am very proud of what the credit union has accomplished during my time at Patelco,” said Burns. “I have worked alongside an extraordinary team that has always persevered to keep our members at the forefront of all our efforts.”

Patelco’s board has retained a recruiter to find a new president and CEO.

About Patelco Credit Union
Founded in 1936, Patelco Credit Union ranks among the largest credit unions in California and the nation with more than $3.9 billion in assets and more than 270,000 members. Throughout its 77-year history, Patelco has helped its members and their communities prosper through volunteer initiatives and personalized service that focuses on transparency, simplicity in banking, and garnering trust. Patelco is a federally insured, not-for-profit, full-service credit union that offers the same types of products and services as large banks. Membership in Patelco is free and open to everyone.
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Carla Spain
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