Canvas Credit Union in Lone Tree, Colorado, named Chad Shane its new chief executive officer.

Shane replaces Todd Marksberry, who retired from the organization in April. The $4.5 billion-asset credit union had installed CFO Colleen Knoll as the CEO on an interim basis.

Shane has been with Canvas for 13 years and has held several positions within the organization, including senior vice president, vice president of lending, AVP of lending and business development and, most recently, chief lending officer.

“This team inspires me every day with their dedication to uplifting our members and communities. Together with our dedicated team, we will keep leading with our hearts, fostering a culture of care, and driving meaningful impact across Colorado,” Shane said in a press release.

Marksberry, 59, had been Canvas’ CEO for nine years.

“I believe there’s a ‘next’ for me,” Marksberry wrote in a LInkedIn post. “I’ve been blessed and I hope to give back in ways that make a difference in many lives. With purpose. Grace. Love. There’s a stirring in my heart. I don’t want to ignore that.”

Among other accomplishments, Marksberry oversaw Canvas’ merger with Western Rockies Federal Credit Union in 2022.

Canvas, which has roughly 300,000 members, was previously known as Public Service Credit Union but rebranded in 2018.

While auto lending has been a sore spot for the industry of late, that has not been the case for Canvas.

The credit union grew its vehicle portfolio by almost 4,000 loans and nearly $100 million during the past year.

The credit union earned roughly $9.7 million in the first half of 2024, a 51% decrease compared to a year earlier, according to call report data from the National Credit Union Administration.

“With 13 years of dedicated service, Chad brings a wealth of experience from within our organization. I am confident that under Chad’s leadership, we will continue to drive innovation, influence the credit union industry and support our members in achieving their financial goals.”

 – Tom Lash
Board Chair
Canvas Credit Union