Oak Ridge, Tenn. — ORNL Federal Credit Union recently announced that President & CEO Colin Anderson has informed the ORNL FCU Board of Directors and employees of his intention to retire on September 30, 2023. The board has retained D. Hilton Associates to lead the executive search efforts. Based out of The Woodlands, Texas, the credit union consulting firm is an industry leader in executive search recruitment. Anderson will work with D. Hilton and the ORNL FCU Board on a smooth transition of leadership.
“We would like to thank Colin for his leadership as President & CEO and for all of the accomplishments that ORNL FCU has achieved under his guidance,” said Randy Gorman, Chair of the ORNL FCU Board of Directors. “As a market leader, we want to continue to add value to our members and enhance our financial position as well as offer services and technologies that meet our evolving membership needs. In retaining D. Hilton Associates, a national search for a new President & CEO will begin immediately. The board will be looking for a proven leader who upholds the values of our culture that has been an important part of ORNL FCU for the past 75 years.”
Anderson joined ORNL FCU in January 2013 as the Chief Financial Officer and was appointed President & CEO in July 2015. At the time, the credit union’s assets were $1.6 billion and membership was 167,000. Under Anderson’s leadership, ORNL FCU assets have almost doubled to over $3.1 billion and membership has grown to over 189,000 members.
During Anderson’s tenure, ORNL FCU has experienced substantial growth and change, establishing itself as an industry leader in financial innovation and brand reputation. Some of his accomplishments include:
- Expanding the credit union’s charter and field of membership from 16 to 19 counties.
- Modernizing and consolidating the branch network, including the acquisition of two new branches in the expanded charter area, the relocation of four branches to new brick and mortar facilities, and the remodel of 12 locations.
- Being the first-in-market for interactive teller machine deployment.
- Creating a data intelligence department and system through a partnership with Arkalytics, a credit union service organization (CUSO).
- Investing extensively in digital channel enhancements, including a new online banking platform, a proprietary P2P payment system, a 24/7 call center support expansion, and a new mortgage loan origination system.
- Forming a CUSO holding company.
- Rebranding the credit union and CUSO to better align with the organization’s new purpose statement and core beliefs.
- Returning value to the membership through the restoration of the special dividend payment. Over $21 million has been returned to members since 2018.
- Establishing the Summer Sessions concert series in Oak Ridge and Kingston.
Anderson’s impact went beyond the walls of ORNL FCU. He was deeply involved in the community, both professionally and personally. He was an active member on several boards, including the Oak Ridge Land Bank Corporation, Dogwood Arts, Knoxville Area Urban League, and the Oak Ridge Chamber of Commerce. Anderson served in various capacities on the Oak Ridge Chamber Board of Directors, including as Board Chair, Vice Chair, and Treasurer.
A fervent supporter of the arts, Anderson continually worked to make art accessible to Oak Ridge and surrounding communities through various mediums. He was responsible for the creation of the credit union’s annual Summer Sessions concert series established in 2018, the installation of various outdoor sculptures throughout Oak Ridge and Knoxville, and the commissioning of large-scale mural projects painted across Oak Ridge, including at the credit union’s headquarters.
“I feel very privileged to finish my career with such a great organization,” said Anderson. “I have thoroughly enjoyed the opportunity to lead the credit union through so much positive change and I am proud of our accomplishments. It’s been an honor to serve alongside my talented and dedicated coworkers for the last ten years; together we have worked hard to be the best financial partner for our members and to make our community a great place to live, work, and play.”
ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $3.1 billion and membership has grown to over 189,000. Membership is open to businesses and anyone who lives, works, worships, or attends school in 19 counties of East Tennessee.