OLEAN — Olean Area Federal Credit Union has named Richard Yeager as the company’s new chief executive officer.

“I am honored and humbled to have been chosen for this role,” Yeager said. “I am excited to grow with such a fantastic organization and look forward to working together with our board of directors and staff as we continue to grow and evolve.”

“The Olean Area FCU Board of Directors is pleased that Rich has accepted the position as CEO,” said board president Patrick Kelly. “We are confident that under Rich’s leadership we will successfully expand our footprint while continuing our tradition of delivering quality products and superior service to our members and supporting the communities we serve.”

Yeager is a graduate of the University of Pittsburgh, and has held senior leadership roles at local financial institutions for more than 25 years. He joined Olean Area Federal Credit Union in 2012 as the vice president of lending, overseeing all loan operations including consumer, mortgage and commercial lending. Since August, he has served as interim CEO.

Olean Area FCU is the second largest of the more than 35 credit unions in Western New York, with assets of $347 million. Officials report the credit union serves over 19,000 members with three locations, 1201 Wayne St. and 206 N. Clark St. in Olean, and 180 West Main Street in Allegany.

Ground was also broken this past summer on a new location on South Main Street in Portville.

Olean Area FCU was founded in 1972 as Olean Dresser Clark Federal Credit Union, keeping the Dresser Clark name until 2002. Beginning in 1981, membership was opened to area residents, and now encompasses all of southwestern Cattaraugus County.

Olean Area FCU merged with Enchanted Mountains Federal Credit Union in 2018, taking over the latter’s Allegany location.

(Contact City Editor Bob Clark at bclark@oleantimesherald.com. Follow him on Twitter, @OTHBob)

(Contact City Editor Bob Clark at bclark@oleantimesherald.com. Follow him on Twitter, @OTHBob)

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