Apple Federal Credit Union Names CEO's retirement, successor

ANNOUNCEMENT:

CEO Larry Kelly Retires, COO Named Successor after Nationwide Search

FAIRFAX, Va.— Apple Federal Credit Union (FCU) recently announced that Larry Kelly, president and chief executive officer, will retire at the end of June. Andrew (Andy) C. Grimm, Apple FCU’s executive vice president and chief operating officer, will succeed Larry as President/CEO effective July 1, 2017. The Apple FCU Board of Directors reached its decision after a nationwide search.

Mr. Grimm has been employed at Apple FCU since 1995, when he was hired by Mr. Kelly as Apple’s first Strategic Planning Manager. In 1999, Andy was promoted to the position of Vice President of Finance, earning his Certified Public Accountant (CPA) designation in 2003. Assuming the role of Chief Operating Officer in 2004, he’s overseen the execution of many major strategic initiatives, including nearly a dozen new branches, technological enhancements, greater emphasis on the education community, an employer of choice initiative and several mergers and acquisitions, to name a few. Mr. Grimm also serves on the Board of Directors for The Foundation for Fairfax County Public Schools.

Since taking the helm of Apple in 1995, Mr. Kelly guided the growth of the credit union from 41,000 members and $230 million in assets, to more than 190,000 members and nearly $2.4 billion in assets today. Apple currently holds rank as a Top Ten Credit Union in the Commonwealth of Virginia in terms of size and is in the top 100 of all credit unions in the U.S. Apple FCU was named to Virginia Business Magazine’s Best Places to Work in Virginia list (large employer category) in 2017.

“My legacy is the passionate, talented leaders at Apple that work every day for its success. Andy’s a key member of the Apple family, and I know he’s going to be fantastic at moving Apple forward in innovative and strategic ways, while maintaining the organization’s core values and operating philosophy,” said Mr. Kelly.

Mr. Grimm has an undergraduate degree in Business, with a major in Marketing, from Fordham University, and a Master of Science in Business from The Johns Hopkins University School of Professional Studies in Business and Education. After receiving his MBA in 1999, he earned the Edward J. Stegman CPA Memorial Award from Johns Hopkins for achieving the highest possible GPA in his program. Andy resides in Fairfax County with his family.

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About Apple Federal Credit Union

Established in 1956 by teachers, Apple FCU is ranked as a top 100 credit union nationwide, serving more than 190,000 members with nearly $2.4 billion in assets. As a not-for-profit, member-owned financial cooperative, Apple FCU serves a diverse community of local education systems and anyone who lives or works in Fairfax, Frederick (VA) and Prince William counties. Members enjoy competitive rates, as well as fair and honest products and services, within a trusted environment. The Credit Union is fully committed to making a positive impact within the region, not only in financial services, but also in community involvement, financial literacy and charitable giving. To learn more, visit AppleFCU.org. Federally insured by NCUA. Equal Opportunity Lender.