Terry Brahm, president ofDHCU Community Credit Union for 43 years, has announced he is stepping down but will remain as chief executive officer and serve on the board until his retirement in May 2014.|
Matt McCombs, DHCU's executive vice president/chief operations officer, will replace Mr. Brahm as president on May 1, 2013, according to a news release.
"Terry is a well-respected leader, credited with DHCU's success over the past four decades," board chairman Steve Kratzberg said. "He is one of only four people to serve as president and CEO of the 78-year-old institution. The board will embark on a plan to ensure a smooth leadership transition over the next 12 months."
Mr. Brahm was named president and CEO of what was then Deere Harvester Credit Union in 1976. He was hired as a loan officer in 1970, promoted to credit manager in 1973, to assistant treasurer in 1975 and replaced retiring president Norman Sachau one year later.
Over the last 43 years, Mr. Brahm has led the credit union through six mergers, eight branch expansions and from 7,000 members to nearly 41,000 members today.
He brought several financial firsts to the local market, including the area's first ATM in 1983 and one of the first credit card programs offered by a local credit union.
Mr. McCombs will become president and chief operating officer on May 1, and, after Mr. Brahm's retirement, Mr. McCombs will be president and chief executive officer.
Mr. Brahm is past chairman of the board of the Quad Cities Better Business Bureau, the Illinois Transfer System and has provided service and support to the Credit Union National Association and Credit Union Executives Society (CUES).
He was named Illinois CUES Chief Executive Officer of the Year in 1983 and 2004. He's currently on the Revitalize and Develop East Moline Committee of East Moline, and is a member of the Regional Opportunities Council of the Quad Cities.
He's an active supporter and fundraiser for the Boys and Girls Club of the Quad Cities, United Way and Junior Achievement.
Mr. McCombs joined DHCU in 2011 as executive vice president of sales and strategic direction.
The Ottumwa, Iowa, native, is a graduate of the CUES CEO Institute conducted at the University of Pennsylvania's Wharton School of Business and Cornell (New York) University's Johnson Graduate School of Management.
He has a master's of business administration from the Kellstadt Graduate School of Business at DePaul University and a degree in economics from Central College, Pella, Iowa.