After nearly 17 years of leadership with Mission Federal Credit Union, President and Chief Executive Officer Debra Schwartz has elected to officially retire on March 1, 2024.
Schwartz joined Mission Fed in 2007 as the credit union’s executive vice president. After serving as interim CEO in 2008, she was named President and CEO and has since grown Mission Fed from $1.8 billion to $6 billion in assets. The credit union’s membership has expanded from 127,000 to more than 300,000 members in the same timeframe.
“My decision to retire did not come lightly, but I believe true leadership is about knowing when it’s time to pass the torch,” Schwartz said. “Success is doing a job you love with people you enjoy, and by any measure, I’ve achieved that. It’s been an honor and privilege to work with our team and the San Diego community – and our shared values at Mission Fed will continue to drive success for our members and the community at large.”
Schwartz added that Mission Fed, “is strong, resilient, safe and supportive of our members – and we will keep the momentum going.”
Under Schwartz’s leadership, Mission Fed has contributed over $1 million annually to the community for several years. While the list of community support is long, Mission Fed’s support during the pandemic was a highlight for Schwartz.
Mission Fed focused on supporting employees, as well as San Diegans who were most in need during that time. In less than 60 days, Mission Fed raised and donated a total of $680,342 to local nonprofit organizations caring for the most vulnerable community members in 2020. Schwartz coined this endeavor as the proudest moment of her career.
Under her leadership, Mission Fed has been named a Top Workplace in San Diego and nationwide.
Other honors have included the Forbes Best-in-State Credit Unions list, listed as a top U.S. credit union by Consumer Reports, a five-star rating with Bauer Financial, and honors from the local Better Business Bureau.
Mission Fed also became the first San Diego-based credit union to receive the “Juntos Avanzamos” designation, honoring its commitment to serving and empowering Hispanic/Latinx consumers.
The credit union is highly regarded as a local community partner of choice, which Schwartz has modeled throughout her career. Outside of her work, Schwartz volunteered her time and talent to a variety of nonprofit organizations over the years and currently serves as board chair for Junior Achievement of San Diego County.
“Our members are more than customers – and we invest our earnings into serving them and our community,” Schwartz said. “These are among the things I will miss most, but I look forward to watching Mission Fed continue to support the many organizations that make San Diego a great place to live and work.”
The Mission Fed Board of Directors unanimously appointed Chief Financial Officer Doug Wright as Schwartz’s successor. Wright will officially take the reins of CEO on March 1, 2024, and the leadership team continues to work in tandem to ensure a smooth transition for employees and members. Wright has served as CFO since 2016 and brings more than 25 years of experience in commercial and community banking.
To learn more, visit www.MissionFed.com.
