November 16, 2022
TAMPA— November 16, 2022 — Members Trust Company today announced the appointment of Dave Coffaro as Interim President and Chief Executive Officer.
Mr. Coffaro’s appointment became effective as of November 15, 2022. Mr. Coffaro succeeds John Largent, who is retiring from MTC.
Mr. Coffaro, a member of MTC’s board of directors, has previously served as chief executive officer of trust and wealth management services at a major financial institution. Currently the principal of the Strategic Advisory Consulting Group and cofounder of the fintech company, Atticus (providing individuals and professional advisors do-it-yourself tools for fiduciary-based activities), he has formerly served as Chief Fiduciary Officer and Head of Investment & Fiduciary Services at Wells Fargo and Senior Vice President and Head of Strategy for International Trade Finance at Bank of America. He has also served as Interim Chief Executive Officer of Second Harvest Food Bank of Orange County, California. He received his B.A. from California State University and Masters of Business Administration from the Peter F. Drucker Graduate School of Management at Claremont Graduate University.
Mr. Coffaro has also spoken and written on topics related to strategic leadership, leading change, organization transformation, innovation and financial services, with articles and blogs published in SmartBrief on Leadership, Board Leadership, ABA Banking Journal, Quality Digest, Psychology Today, and Business Transformation SmartBrief. His latest book is Leading from Zero: Seven Essential Elements of Earning Relevance.
Mr. Coffaro’s appointment comes in conjunction with MTC’s board’s adoption of a five-year plan designed to reimagine the company’s business and its service to the credit union industry.
Jonathan Rich, Chairman of MTC’s board of directors, commented: “The board is excited to have Dave take over executive leadership on an interim basis. We have substantially expanded the vision we have for MTC’s future. Dave has the background – an impressive record of trust and investment services leadership for one of the foremost American financial institutions – to immediately and effectively lead MTC forward according to that vision. We are confident that he is the right person to take the reins at this moment in MTC’s history. As his work gets under way, the board will begin a search for a permanent President and CEO.”
Mr. Coffaro stated: “I am impressed with the talent on the MTC team and excited to play a role in the next chapter of the company’s story of serving clients. I look forward to working with the team and our board as we advance the business and identify our next CEO.”
Mr. Rich added: “On behalf of the board, I would like to express our deep appreciation to John Largent for his years of leadership and his contribution to the growth and development of MTC during his tenure as Chief Executive Officer and Chief Investment Strategist.”
About Members Trust Company
Since 1987, MTC has provided trust and investment services to members of credit unions throughout the United States. Owned and managed by credit unions, MTC abides by the management philosophy of its owners – to act in the best interest of its clients while fulfilling its fiduciary duty as a trust company. MTC’s credit union shareholders provide it with its values and they underpin its strength as a national trust and investment firm.
Trust services provided by Members Trust Company, a federal thrift regulated by the Office of the Comptroller of the Currency. Trust and Investment products are not NCUA/NCUSIF/FDIC insured. May lose value. No financial institution guarantee. Not a deposit of any financial institution. This is for informational purposes only and is not intended to provide legal or tax advice regarding your situation. For legal or tax advice, please consult your attorney and/or accountant.