LOS ANGELES, Dec. 17, 2025 /PRNewswire/ — University Credit Union (UCU), the financial cooperative partner dedicated exclusively to empowering university communities for 75 years, proudly announces the appointment of its new Chief Executive Officer/President. This leadership transition marks an exciting new chapter as UCU continues advancing its core purpose: giving everyone in the university community a financial advantage.
UCU Board Chair, Norma Iadevaia, shared:
“The Board is excited to welcome our new CEO/President, Richard Wada. His strategic vision, deep commitment to member service, and passion for supporting university communities align seamlessly with UCU’s core purpose and values. We are confident that under his leadership, UCU will continue to elevate the financial well‑being of our members and strengthen our partnerships across the higher education landscape.”
Richard Wada joins UCU with a distinguished background in financial services and credit union leadership. He currently serves as Chief Lending Officer at Patelco Credit Union, the nation’s 28th largest credit union with $9.5 billion in assets and more than 500,000 members across Northern California. In that role, he oversees the growth and performance of both consumer and commercial lending businesses. Prior to joining Patelco in 2018, Richard held senior executive roles within Citibank’s global and North American retail banking divisions, including Global Head of Personal Lending and Head of U.S. Retail Consumer Lending. His earlier career includes product management and marketing leadership positions at American Express and the global advertising agency Saatchi & Saatchi. He holds a B.A. from Williams College and an MBA from Columbia Business School.
Richard Wada will guide UCU into its next era of growth—one centered on innovation, an elevated member experience, and deeper strategic partnerships across the higher education ecosystem. With a strong financial foundation and a reputation for exceptional service, UCU is poised to expand its impact and deliver even greater value to faculty, staff, alumni, students, and their families.
“I am honored to join University Credit Union and lead an organization so deeply rooted in purpose,” said Richard Wada. “UCU’s unwavering commitment to empowering members and supporting university communities is truly inspiring. Together, we will build on this strong foundation, embrace new opportunities, and ensure that every member has the confidence, tools, and support to thrive financially.”
With more than $1.1 billion in assets and a growing membership base, UCU is well‑positioned for continued success. Upcoming initiatives include expanded financial wellness programs, strengthened university partnerships nationwide, and cutting‑edge digital tools designed to make banking easier, more accessible, and more empowering for every member of the university community.
About University Credit Union
University Credit Union is a purpose-driven financial cooperative dedicated to providing a financial edge to the university community. Founded in 1951 by UCLA employees, UCU focuses on member-owner participation and returns profits to its members through better loan rates, higher savings rates, and lower fees. Today, serving over 58,000 members, UCU offers a range of financial products and services, including checking accounts, loans, and insurance, while emphasizing community support and financial education. Learn more at ucu.org.
Contact: Derek Knowlton
University Credit Union
Email: marketing@ucu.org
Phone: 800.UCU.4510
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SOURCE University Credit Union
