Morrell Tabbed to Lead Peninsula Credit Union

Peninsula Credit Union has named Northwest credit union stalwart Jim Morrell its new president and CEO, succeeding Steve Gorseth, who plans to retire in June.

The move sends Morrell up the Washington coast, as he spent the past 14 years at iQ Credit Union in Vancouver, Wash., including his most recent stint as senior vice president of support services.

“Along with the tremendous staff at Peninsula Credit Union,” Morrell said, “I look forward to the opportunities to serve our members and the communities across the Olympic Peninsula as the financial advisors people look for in a trusted financial institution.”

Morrell’s involvement as a leader in the credit union movement, both on a regional and national scale, is impressive. He was named chair of the CUNA Technology Council in 2002 and has also served on the former Washington Credit Union League’s (WCUL’s) Evolution Task Force, the Northwest Credit Union Association’s (NWCUA’s) Future Leaders Task Force and Washington Model Credit Union Act Sub-Committee, and the Filene Research Institute’s i3 Group. He was also named the WCUL’s 2010 Distinguished Credit Union Professional of the Year.

With more than 20 years of experience in the financial services industry, including 17 years in the credit union movement, Morrell’s financial roots stretch nearly as deep as his roots in the Northwest. Morrell earned a master’s degree from the Atkinson Graduate School of Management at Willamette University in Salem, Ore., and a bachelor’s degree in economics from Pacific Lutheran University in Tacoma, Wash.

Peninsula has seen significant growth in the past six years, including the opening of two new branches and the planned implementation of shared branching. Peninsula was founded in 1935 and currently has five branches in the West Puget Sound area with assets of $150 million and approximately 20,000 members.


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