Cascade Federal Credit Union in Kent, Washington, hired Sam Jimenez to be its next president and CEO.

Jimenez replaces Sarah Richardson, who was the $347 million-asset Cascade’s CEO for the past two years. Richardson has been with Cascade in various roles for six years and will remain with the credit union through the end of 2024 to assist with the transition.

Cascade did not indicate why Richardson was leaving or where her next role would be.

Cascade lost roughly $1.1 million in the first three quarters of 2024 after earning $46,000 in 2023, according to call report data from the National Credit Union Administration.

Jiminez has more than three decades experience in the financial services industry, including roles as a regulator and leadership positions with two community banks.

Most recently, he was CEO of $1 billion-asset 1st Capital Bank in Salinas, California.

On Oct. 1, the bank announced the completion of its merger with Santa Cruz County Bank. Jiminez had been the bank’s CEO for four and a half years.

“Sam has a wealth of knowledge and experience, from being an FDIC bank examiner to executive roles in risk management, finance and accounting, operations, and most recently as the president and CEO of a $1 billion community bank,” said Cascade FCU’s Chairman John Graham. “We are highly confident that he will serve our members well and provide great leadership to the Cascade team.”

Cascade Federal Credit Union was established in 1952, originally serving employees of the Cascade Division of the Great Northern Railway. Today its nearly 11,000 members come from more than 125 employee groups.

““Sam has a wealth of knowledge and experience, from being an FDIC bank examiner to executive roles in risk management, finance and accounting and operations.”

 – John Graham
Chairman
Cascade FCU