Silver State Schools Credit Union CEO announces retirement

Dave Rhamy

Andrew Hunter

Dave Rhamy, CEO of Silver State Schools Credit Union in Las Vegas, today announced he will retire July 11 from the position he has held since 1999.

Andrew Hunter, most recently CEO of Patelco Credit Union in San Francisco, will succeed Rhamy.

Rhamy will concentrate on his law practice and continue to serve the credit union as a consultant, the credit union said.

“We regret but support and understand Dave’s decision, and appreciate his leadership over the past 12 years,” Terry Mannion, chair of Silver State, said in a statement. “Under his direction, the credit union was able to manage through one of the nation’s most challenging economic downturns.”

Silver State, with $718 million in loans and other assets at the end of 2010, is one of the largest credit unions in Nevada and has 12 Las Vegas-area locations as well as one in Reno.

Hit hard by foreclosures and high unemployment and resulting bad loans, the credit union posted steep losses during the recession -- a combined $72.4 million in 2009 and 2010 — but says it's turning around and generated a profit of $90,000 in the first quarter.

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