BOCA RATON, Fl. (1/27/2014)—The longtime and highly celebrated President and CEO of IBMSECU, Lary B. McCants, retired on January 1, 2014.
McCants had been employed by IBMSECU since 1988. His first five years with the Credit Union were spent in the position of Executive Vice President of Operations. In 1993 McCants was appointed to President/CEO, where he served for more than 20 years. In his time as CEO, McCants oversaw the growth of the CU from $261 million in assets to almost $900 million in assets. He helped the IBMSECU Membership double from 35,000 to over 74,000. Six additional credit unions were merged into the IBMSECU field of membership and the Credit Union’s branching network expanded from 4 to 15 branches. Of all the changes under his leadership, the most intriguing were the Credit Union’s movement into social media, mobile banking and electronic services, giving IBMSECU 24/7 remote access to accounts, information and services.
Prior to working at IBMSECU, McCants was employed by IBM Corporation for 21 years. His last position at IBM was Site Functional Manager for the PC Division in Boca Raton. McCants was the 64th member to join IBMSECU when it was founded in 1969. While he was President and CEO, McCants also served as a Member and Chairman of the Board of the Credit Union Executives Society (CUES), Board Director and Marketing Committee Chairman of the Florida Credit Union Shared Services Organization, and member of the Political Action Committee of the Florida Credit Union League.
“After more than 25 years of service at the Credit Union it is time for my wife of 44 years, Patricia, and I, our children and grandkids to close this chapter in our lives.” McCants said. “Moving forward, I still intend to be directly involved in the Credit Union industry. I have enjoyed serving on the Board of Directors of the Florida Shared Services, Inc. Network and am the Immediate Past Chairman and Director of the Credit Union Executives Society (CUES), having served as Chairman in 2012.”
“I am leaving IBMSECU in very capable hands,” McCants added. Michael L. Miller has taken over the Credit Union’s top spot as President and Chief Executive Officer. Miller moves over to IBMSECU from his position as Vice President and Chief Operations Officer at the $1.4 billion Indiana Members Credit Union. IBMSECU, one of the nation’s largest credit unions, is headquartered in Boca Raton, with branches in South Florida and Atlanta, GA regions.