The move keeps longtime chief executive Bruce Brumfield in place after his planned succession is abruptly halted.

Founders Federal Credit Union has halted its long-planned leadership transition after confirming that Keith Wilson, its president and the executive tapped to become chief executive in January, is no longer with the organization.

Wilson’s departure was first reported by The Lancaster News and later confirmed in an emailed statement from Nicki Nash, a spokesperson for the $5 billion-asset credit union to Yahoo News. No reason was provided for his exit. Nash said only that the credit union “appreciate[s] [Wilson’s] contributions and wish[es] him well.”

The unexpected shift leaves Bruce Brumfield, the longtime CEO who had announced his retirement earlier this year, in his post. Founders said on social media that Brumfield would remain at the request of the board. 

The credit union had previously named Wilson, a 25-year veteran of the organization, as Brumfield’s successor in January; the announcement has since been removed from its website.

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Board members reached by phone, including former University of South Carolina athletic director Ray Tanner and State Senator Allen Blackmon, declined to comment on the leadership reversal.

Founders is South Carolina‘s largest credit union, with nearly 50 branches across the Carolinas and more than 286,000 members. It reported $49 million in earnings in the first three quarters of 2025, slightly ahead of the same period last year, according to NCUA call report data.

Brumfield, who has led the credit union for two decades and worked there for nearly four, previously praised Wilson when his promotion was announced, saying he was confident in his ability to guide the institution. Efforts by Yahoo News to reach Brumfield were unsuccessful.

Founded in 1950 by mill employees in Lancaster, the credit union has expanded steadily over the decades, growing into a major regional financial institution. The sudden leadership shift marks an unusual moment for one of South Carolina’s most stable member-owned organizations, leaving questions about its succession plans as it heads into the new year.