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Announcing the Retirement of Jeff Napper, LBS Financial Credit Union’s President & CEO

Posted by: LBS Financial on July 25, 2023

Announcing the Retirement of Jeff Napper, LBS Financial Credit Union’s President & CEO

Long Beach, CA – July 21, 2023 – Following a career that spanned over 46 years at LBS Financial Credit Union, including 21 years serving as President & CEO, Jeff Napper will be retiring from LBS Financial Credit Union on August 17, 2023. He has served as the third President & CEO in the company’s 87-year history.

Jeff Napper is a proud Long Beach native, where he was the only male senior elected to Millikan High School’s Hall of Fame when he graduated in 1975. Jeff continued his education at Long Beach City College (LBCC), receiving the Highest Academic Honors and an Associate of Arts degree. He subsequently earned a Bachelor of Science in Business Administration with a Major in Finance with Great Distinction and a Master of Business Administration from California State University, Long Beach.

Jeff has earned many distinctions during his career. He was elected to the LBCC Hall of Fame in 2008 and received the LBCC President’s Award in 2009. Jeff continues to actively serve on the LBCC Board of Governors since 2002. In 2018 he was awarded the California Credit Union League’s Advocacy Award, a great testament to the efforts he has made in political advocacy for the credit union movement. More recently, Jeff was the 2022 awardee of the California and Nevada Credit Union League’s highest honor, the Leo H. Shapiro Lifetime Achievement Award for his commitment and dedication to great member service and the financial strength of LBS Financial, plus his many contributions to the credit union movement.

Giving back to the credit union movement is important to Jeff and he served on the national CO-OP Financial Services Board of Directors for nine years and served as Vice Chair and Chair for 2 years each. He also served on the CO-OP Financial Services Audit Committee from 1997–2010. For the California Credit Union League, Jeff served for a number of years on the Fiscal Affairs Committee, was a past local Chapter president and served in several other positions over the years. He also served on the Credit Union National Association Credit Union Powers Subcommittee.

Since Jeff started working full-time for LBS Financial Credit Union, he has held various management positions and ultimately became the President & CEO in 2002. When Jeff began working as a part-time teller at LBS Financial in 1977, the Credit Union had just $50 million in assets and deposits and only one branch. In 2002, the year he was appointed President & CEO, the Credit Union’s assets and deposits reached $674 million. Today, under Jeff’s leadership, the Credit Union has tripled in size to more than $2 billion in assets and deposits with eight branches.

Ensuring the Credit Union’s financial strength and sustainability to continue serving Members far beyond his retirement has been a focus under Jeff’s leadership. As a result, LBS Financial Credit Union is one of the strongest credit unions in the State of California with a net capital ratio of 12.92% as of June 2023. The Credit Union has also been voted “the Best in Long Beach” for 13 consecutive years by Press-Telegram and Grunion Gazette readers, for 11 years by Beachcomber readers, and the last four years by Long Beach Post readers.

“LBS Financial Credit Union, the board, management, and employees have had the fortunate benefit of Jeff Napper’s leadership these past 21 years,” said LBS Financial Board Chair and Long Beach Unified School District Superintendent, Dr. Jill Baker. “He cares deeply about the Credit Union, its members, and its employees. His consistent and strong leadership has made a tremendous impact on the organization, and he will be missed. We wish him all the best in his well-deserved retirement.”

Jeff Napper will be succeeded by LBS Financial’s Executive Vice President/Chief Lending Officer, Sean Hardeman who has been with the Credit Union for the past 12 years.

About LBS Financial Credit Union
LBS Financial, founded in 1935 as the Long Beach School District Employees Federal Credit Union, is a member-owned cooperative providing savings, checking, Visa®, money markets, certificates, IRA, insurance and investment services. LBS Financial also offers personal, vehicle, boat and home loans. Their field of membership encompasses fifty cities surrounding the greater Long Beach area, as well as Riverside, San Bernardino, Orange and San Diego Counties. They currently service over 140,000 members with eight branch office locations, convenient electronic access (ATMs, online banking and mobile banking) and are part of the CO-OP ATM and Shared Branching Networks. LBS Financial Credit Union has over $2 billion in total assets.