A succession is in the works at the top of one of Richmond’s largest financial institutions.
Virginia Credit Union announced Tuesday that Jane Watkins, its longtime president and CEO, will retire from her post March 31.
The pending departure will end Watkins’ 33-year run at VACU, which she began in 1982 as an accounting manager.
The credit union said it has grown from 125,000 members and $629 million in total assets to 240,000 members and $2.7 billion in assets since Watkins took the helm in 2000. That growth included increasing VACU’s branch count from nine to 17, with expansions into Fredericksburg, Farmville and, most recently, Charlottesville. And its employee headcount is now at 588 employees.
VACU reported net income of $27.86 million in 2014, up 26 percent from the previous year, according to National Credit Union Administration filings.
Watkins, a VCU graduate, was not available for comment Tuesday.
VACU said its board has appointed a transition committee tasked with naming a successor to Watkins.