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Michigan Credit Union League

Members First Announces CEO Retirement, New Appointment

After 25 years with Members First Credit Union (MFCU), President and CEO Eric Brubaker has announced his retirement at the end of this year. Current EVP Carrie Iafrate has been appointed by the Board of Directors as the credit union’s new President and CEO as of January 1, 2022.

Brubaker began his career with the credit union as the Accounting Manager, moving to VP of Finance before taking the lead as President and CEO. Through his career, he led the credit union in growth from 18,000 members and 2 branches to 58,000 members and 11 branches, spanning from Midland to Grand Rapids. He further developed the credit union from $161 million in assets and 30 employees to $661 million in assets and 230 team members.

“It has been an honor to lead this credit union for the past fifteen years, and to work with our members for nearly a quarter century,” said Brubaker.

Brubaker led the charge in adding business lending and deposit products, offering investment options through Members First Investment Services, and was instrumental in collaborating with fellow leaders to open Credit Union Trust, Michigan’s first fiduciary service provider organized by credit unions.

“Eric’s leadership, vision and care for our members and employees has helped us to achieve great success throughout his career,” said Board Chair Bob Cooper. “We are grateful for his dedication and commitment to our credit union, and are excited for him to transition into this new phase of life.”

Iafrate started her career with the credit union nearly 20 years ago as the Marketing Manager, now working sideby-side with Brubaker as the Executive Vice President of MFCU. Throughout her career, Iafrate has focused on strategic planning, organizational growth, product development, high performing leadership and talent development, strategic marketing/data analytics, and culture development. Iafrate emulates the core values of MFCU in everything she does, building trust, caring for, and enthusiastically celebrating her fellow team members every chance she gets.

“We are very proud to have Carrie take the lead of our credit union,” said Bob Cooper. “We have great confidence in Carrie’s vision for our credit union, and are excited to work with her to continue to grow our organization.”

Iafrate has expressed her excitement about taking on the role as Members First Credit Union’s President and CEO. “I couldn’t be more honored than to be chosen by the Board as the next leader of our outstanding organization,” Iafrate stated. “I speak openly and often about my love for this credit union and our movement. Our team’s commitment to people helping people and confidence in our future together is inspiring. I care deeply about our members, team, and communities and will embrace this responsibility to ensure we all thrive.”

Brubaker and Iafrate have worked closely for years building and implementing growth strategies, leading mergers and acquisitions, and ensuring financial stability and security for the organization. “I look forward to working with Carrie in the transition and continuing to support the success of Members First Credit Union,” said Brubaker. “I am confident that Carrie is the best fit for this role, and know that her dedication and vision will help our credit union continue to succeed.” Iafrate shares appreciation for Brubaker’s leadership, “Eric has set us up for success. We have huge potential to take advantage of due to his extraordinary execution of growth strategies.”

Iafrate is a proven leader with the ability to build high performing individuals and teams. She studied at Northwood University, receiving a BBA in Marketing and Management and Associate in Accounting in 2000. With her personal philosophy of work hard, train hard, play hard, Iafrate continued her education by receiving an MBA from Richard DeVos Graduate School in 2005. Iafrate has earned certifications from CUNA as a Certified Credit Union Executive, Credit Union Marketing Executive and is completing her Business Lending Professional certification this year.

Iafrate is actively involved in MFCU’s communities as well as local, state and national industry affiliations. Most recently, being appointed to Credit Union Trust’s Board of Directors. She has received a Spirit of Rotary Award and Credit Union Spirit award. Natives to our hometown, Midland, MI, she and her husband, Buddy, are co-owners of CrossFit Jack Pine and enjoy adventuring around the world. They reside in Midland with their teenage son, Owen.

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2021-06-09 00:00:00