JOHN DAY – Ken Olson has been named President and chief executive officer of Old West Federal Credit Union.

He succeeds Ralph Goodwin, who retired after 28 years with the credit union.

Olson joined Old West in 1999 as part of the credit union’s succession plan.

“I’m extremely pleased to be handing the reins to someone of Ken’s caliber,” said Goodwin. “The credit union has experienced a tremendous amount of success, particularly in the past several years, and much of that is due to Ken’s buy-in of our mission and his steadfast commitment to credit union principles.

“The complexity of the credit union’s commercial and agricultural loan portfolio and services meant that it would take a unique individual to continue our mission, and Ken is the right one for the job.”

Olson said it’s been a pleasure to work with Goodwin for the past eight years.

“By anyone’s standard he’s one of the best in the business and I feel blessed and fortunate to be able to work at such a special place,” Olson said. “Imagine being able to come to work and focus on the needs of the members of the credit union instead of constantly worrying about making the most money from every transaction. I was taught in my prior life in the banking world to make as much revenue from a customer as possible.

“Member service takes on a whole new meaning when your mission is to help people, as opposed to seeing them as a source of revenue.”

Olson has 17 years of financial services experience. He graduated in 1990 from Boise State University and received a CUNA Management School diploma from the University of Wisconsin Graduate School of Business in 2002.

Old West Federal Credit Union has over $85 million in assets with branches in John Day, Prairie City, Baker City and Pendleton and is breaking ground for a new branch in Hermiston.