Democracy Federal Credit Union Announces New President/Chief Executive Officer
ALEXANDRIA, VIRGINIA – (January 2019) Democracy Federal Credit Union is pleased to announce the selection of Ken Cahoon as the credit union’s new President and Chief Executive Officer.
“We are delighted to welcome Ken to Democracy Federal Credit Union, he has a great deal of experience within the industry and will be a valuable asset to the organization,” said Patricia Ellis, Board Chair. Ellis also commended current CEO, Kathy Geary, for her service to Democracy Federal Credit Union, “On behalf of the Board, I would like to thank Kathy for her dedication and service to the credit union and to our members. We wish her all the best for her retirement and every success for the next chapter of her life.”
Cahoon comes to Democracy Federal Credit Union with over 23 years of experience in the financial services industry. He is joining Democracy Federal Credit Union from the National Institute of Health Federal Credit Union in Rockville, Maryland, where he held the role of Vice President of Retail Delivery since 2017. Prior to his time at the National Institute of Health Federal Credit Union, Cahoon worked at Unify Financial Credit Union, as a Regional Manager, for 3 years. Cahoon also spent time working for American Spirit Federal Credit Union, and Justice Federal Credit Union, in various management roles. Cahoon began his career focusing on consumer lending, mortgage lending, and branch operations. Cahoon has a Bachelor of Science in Finance from California University of Pennsylvania, in California, Pennsylvania.
When asked about his new position, Ken stated, “I am honored to have been given the opportunity to take over the leadership of Democracy Federal Credit Union, an organization for which I have a great deal of admiration. The credit union has a strong financial foundation and impressive growth, I am looking forward to continuing on this trajectory and feel confident that we will have a prosperous future.”
About Democracy Federal Credit Union
Democracy Federal Credit Union established in 1936 to serve the employees of the Social Security Board in Washington, D.C. After mergers, name changes, charter expansions, and years of incredible growth, what was once Social Security Employees Federal Credit Union is now proudly Democracy Federal Credit Union. Since its date of inception until the early 1970s, Democracy FCU had under $10 million in total assets but has since skyrocketed to over $151 million with more than 14,000 members. Today, Democracy FCU promotes member education, credit union advocacy, and diversity. Membership is now open to many government agencies as well as those who live, work, worship, attends school, or does business in Washington D.C., and most areas in Maryland and Virginia within the beltway. Democracy FCU strives to serve their members by helping them achieve their financial goals through offering competitive interest rates and affordable services. To learn more, visit https://democracyfcu.org/.