University Federal Credit Union (UFCU) announced on Wednesday that its board of directors named Michael Crowl as the Austin-based financial institution’s chief executive officer (CEO) and president, according to a press release.
UFCU Board of Directors Chair Cale McDowell said in the release that the body is proud of the appointment.
“The board of directors conducted a comprehensive national search with the assistance of a leading global executive search firm,” McDowell said. “Ultimately, the board concluded that Michael is the right person to lead UFCU into the future.”
UFCU said that Crowl began working for it in 2005 and was elevated to the presidency last year.
Crowl’s latest appointment is part of a leadership transition plan the credit union has executed ahead of incumbent president and CEO Tony Budet’s retirement effective March 10, 2023.
Per the release, Crowl is serving as co-CEO alongside his eventual predecessor.
Crowl called his new role “an honor.”
“The board and the executive team are looking forward to elevating the organization to even greater levels of positive impact in our members’ lives and their communities,” he said in the release.
According to UFCU, Crowl will oversee a financial entity that boasts over 355,000 members and $4 billion in assets.
A certified public accountant (CPA) by profession, the release said, Crowl holds a bachelor’s degree in finance and a master’s degree from the University of Houston-Clear Lake (UHCL) in Houston.
He additionally earned a credit union development education certification from the National Credit Union Foundation (NCUF).
UFCU said that Crowl played a huge role in the creation and launch of its new transformational strategic plan.