Executive Leadership
Valley First Credit Union operates under a dual governance structure characteristic of federally chartered credit unions. The executive leadership team manages daily operations — lending, deposit services, digital banking, compliance, risk management, human resources, and financial planning — while a volunteer board of directors elected by the membership provides strategic oversight and ensures institutional decisions align with member interests. This separation of operational management from governance oversight creates a system of mutual accountability that has served the credit union through four decades of growth.
The executive team brings experience from community banking, credit union administration, regulatory compliance, and financial technology. Several members of the leadership group began their careers at Valley First in frontline positions — teller, loan processor, member service representative — and advanced through the organization over years of service. This internal development pipeline ensures institutional knowledge is preserved and that leadership decisions are informed by direct experience with the branch operations, lending workflows, and member interactions that constitute daily credit union business.
Chief Executive Officer
Cecilia T. Rowland has served as Chief Executive Officer of Valley First Credit Union since 2017. She joined the credit union in 2005 as Director of Lending and was promoted to Chief Lending Officer in 2010 and Chief Operating Officer in 2014 before assuming the CEO role. Under her leadership, Valley First expanded from eight branches to twelve, launched the comprehensive digital banking platform that now serves as the primary account management channel for most members, and navigated the operational challenges of the 2020 pandemic without layoffs, branch closures lasting more than thirty days, or interruption to member services.
Rowland holds a Bachelor of Science in Finance from the University of Washington and an MBA from Gonzaga University. She completed the Credit Union National Association's Certified Credit Union Executive program and serves on the Northwest Credit Union Association's advocacy committee. Before joining Valley First, she spent nine years in commercial lending at a community bank in Seattle, an experience she credits with shaping her understanding of how credit unions can compete with larger institutions by emphasizing relationship-based service and cooperative ownership benefits.
Executive Team
The executive leadership group includes the Chief Financial Officer, who oversees asset-liability management, investment portfolio strategy, and financial reporting; the Chief Lending Officer, who directs mortgage, consumer, and business lending operations including underwriting standards, loan servicing, and portfolio performance; the Chief Operations Officer, responsible for branch network management, member support operations, and facilities; the Chief Information Officer, who leads digital banking development, cybersecurity, and technology infrastructure; the Chief Risk Officer, who manages regulatory compliance, internal audit coordination, and enterprise risk assessment; and the Chief People Officer, who directs talent acquisition, employee development, and organizational culture initiatives.
Each executive team member reports to the CEO and participates in quarterly strategy sessions with the board of directors. Compensation for executive leadership is reviewed annually by the board's compensation committee and benchmarked against peer credit unions of similar asset size and membership count. The compensation philosophy prioritizes retention of experienced credit union professionals while maintaining the cost efficiency that supports the not-for-profit cooperative model.
Volunteer Board of Directors
Valley First Credit Union is governed by a seven-member board of directors elected by the membership. Directors serve staggered three-year terms, with elections held annually at the membership meeting each spring. Any member in good standing who meets the eligibility criteria — active account for at least two years, no record of delinquency, no conflict of interest with credit union operations — may appear on the ballot. The nominating committee, itself composed of member volunteers, evaluates candidates based on professional background, community involvement, and demonstrated commitment to cooperative principles.
Board directors receive no compensation. They attend monthly board meetings, participate in committee assignments, review financial performance data, approve strategic plans and annual budgets, and ensure compliance with NCUA regulations and the credit union's bylaws. Directors are fiduciaries who owe a duty of care and loyalty to the membership as a whole. Board meetings are open to member observation and minutes are published for member review. The board elects its own chair, vice chair, secretary, and treasurer annually from among its members.
The supervisory committee, a separate volunteer body appointed by the board, conducts internal audits, reviews member complaints, and verifies that operational controls meet regulatory standards. Committee members have direct access to NCUA examiners and may engage external auditors without board or management approval. This structural independence ensures that the committee can exercise genuine oversight without influence from the executive team or the board members whose decisions it reviews. Audit findings are reported directly to the NCUA as part of the credit union's annual examination cycle. For reference on credit union governance requirements, the NCUA publishes regulatory guidance that applies to all federally chartered institutions.
Board of Directors
| Name | Position | Professional Background | Years of Service |
|---|---|---|---|
| Harold G. Templeton | Chair | Retired CPA, public accounting firm partner | 11 |
| Leticia M. Atherton | Vice Chair | Human resources director, regional hospital system | 8 |
| David K. Rosenthal | Secretary | Attorney, estate planning and real estate law | 6 |
| Naomi F. Chatterjee | Treasurer | Chief financial officer, agricultural equipment cooperative | 7 |
| Philip A. Cormier | Director | Small business owner, commercial printing | 4 |
| Ruthann V. Delvecchio | Director | Retired school district superintendent | 9 |
| Thomas J. Ainsworth | Director | Operations manager, regional logistics firm | 3 |
All board members are Valley First Credit Union member-owners and serve without compensation. Each director must maintain an active account in good standing throughout their term. Directors are elected by the membership at the annual meeting held each spring. The next board election cycle opens in April — eligible members will receive ballot materials by mail and through the online banking secure messaging portal. For more detail on member voting rights and governance procedures, consult the credit union's published bylaws available at any branch or through member support.