Banking

Succession plan in place at Marshfield Medical Center Credit Union

Marshfield Medical Center Credit Union in Marshfield, Wis., has named David Murphy as its next president.

David Murphy, incoming presdient of Marshfield Medical Center Credit Union

Murphy has been with the credit union since 2010 and served in a variety of roles. He is currently the credit union’s vice president of risk and finance, a position he was appointed to in 2018. He will take the helm as president on May 1, succeeding longtime President Carol Adler, who is retiring.

“I want to thank Carol for giving me a chance eleven years ago and for the opportunities for advancement within the organization,” Murphy said in a press release. “I would not be where I am today without her support throughout the years. I wish her well as she transitions to retirement.”

He added, “I enjoy working with our staff to better serve our members, and I like the financial responsibility of managing our members’ money to the best of our ability. As president, I am excited to continue our progress forward, to align our products and services with the needs of our members, and to further deepen our relationship with the Marshfield community.”

Adler retires having spent 35 years as the credit union’s president and CEO, helping it grow from just $6 million in assets to more than $78 million today. Prior to that she spent nine years at Central Catholic Credit Union, which today is known as Simplicity CU.

Marshfield Medical Center Credit Union earned just under $95,000 last year, down from nearly $268,000 in 2019, as lending contracted, some expenses rose and charge-offs doubled to just under $10,000, with the increase primarily seen in used auto loans.



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