AGCU CEO retires after 40-year banking career

Assemblies of God Credit Union President and CEO Bruce Webb is retiring after nearly 10 years with the organization and four decades in banking.

Webb's last day at AGCU is tomorrow, according to a news release. An announcement on his successor is expected next week.

“Bruce Webb’s leadership over the past decade has transformed AGCU, driving growth, innovation and a stronger commitment to faith-based financial stewardship,” said Bill Perkin, treasurer of the AGCU board, in the release. “His vision and dedication have modernized our services and expanded our impact, leaving a lasting legacy."

AGCU, which serves Assemblies of God churches, attendees, employees, retirees, schools and immediate family, ranked No. 1 on Springfield Business Journal's 2024 list of the area's largest credit unions. The company reported 2023 assets of $429.6 million, up from $369.4 million in 2022, and year-over-year increases in deposits to $317.9 million from $275.1 million and loans to $362.2 million from $319.2 million. AGCU's 2024 membership was reported at 12,863, up 2.8% from 2023.

During Webb's tenure, AGCU expanded membership eligibility to 50 states from five for Assemblies of God church adherents, with average 6% annual membership growth, according to the release.

Webb, 62, said in a recent LinkedIn post that he would spend more time with family in retirement.

"With God’s favor, this industry has blessed me beyond measure, and I will truly miss the day-to-day connections, the mission-driven work we accomplished together and the opportunity to serve members, clients and communities across the country," Webb said in the post.