Southern Energy CU promotes from within for next chief executive
Chief Operating Officer Andy Rush will take the helm of the $3.6 billion-asset credit union in October in conjunction with the retirement of Derrick Ragland Jr.
Southern Energy Credit Union in Birmingham, Alabama, named Andy Rush as its next President and CEO, effective Oct. 1.
Rush will replace longtime leader Derrick Ragland Jr., who will retire September 30. Ragland has been with the $3.6 billion-asset credit union for 43 years, the last nine as its president and CEO.
“It’s been a privilege watching this credit union grow and innovate, while staying true to our values and member-first approach.” Ragland said in a press release.
Rush has been with the credit union for 23 years, having worked in accounting and operations, developing expertise in strategic planning, operational excellence and member-focused innovation.
Most recently, Rush has served as vice president and chief operating officer.
“Through my time with our organization…I’ve seen firsthand how our commitment to our members and community has always come first — that commitment will not change as we move forward,” Rush said in the release.
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APCO Employees Credit Union rebranded as Southern Energy Credit Union in February after mergers with both Powerco Federal Credit Union and Mutual Savings Credit Union, which took effect over the last two years and expanded the company’s footprint across Alabama, Georgia, and Mississippi.
The credit union has more than 90,600 members and earned roughly $2.5 million in the first quarter of 2025, an 18% decrease compared to a year earlier, according to call report data from the National Credit Union Administration.
Southern Energy CU is Alabama’s largest state-chartered credit union by assets and has 29 branches. It is the second largest credit union in the state overall behind only $8.2 billion-asset Redstone Federal Credit Union in Huntsville.
At its annual meeting in April, the Southern Energy Credit Union Board of Directors granted Ragland the Salvador A. Marino Lifetime Achievement Award in recognition of his exceptional dedication and service to members.
“With Andy’s vision, experience, and passion for our organization, we’re confident he’ll build on our success while keeping members at the heart of it all.”
– Greg Shipp
Chairman of the Board of Directors
Southern Energy Credit Union
