USF Credit Union Appoints Richard Sellwood as New CEO
The former COO will now oversee strategic growth for the $1.4 billion Tampa-based financial institution.
Updated on Oct. 21, 2026 in People
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USF Credit Union has appointed Richard Sellwood as its new president and CEO, succeeding Rick Skaggs. Sellwood moves into the top role after serving as the organization's senior vice president and chief operating officer.
Why it matters
This leadership transition puts the internal operations executive in charge of the $1.4 billion institution's broader strategic direction and growth trajectory. The board of directors appointed Sellwood to lead the credit union as it focuses on its operational scaling and member experience initiatives.
USF Credit Union manages $1.4 billion in total assets. The appointment of Richard Sellwood as president and CEO follows his tenure as senior vice president and chief operating officer.
The players
Richard Sellwood
The newly appointed president and CEO of USF Credit Union who previously served as the institution's senior vice president and chief operating officer.
USF Credit Union
A Tampa-based financial institution managing $1.4 billion in assets that provides member-focused banking services.
Rick Skaggs
The former president and CEO of USF Credit Union who has departed from the leadership position.
The details
The board of directors selected Sellwood to lead the organization, leveraging his background in the credit union's daily operations to guide its growth. As president and CEO, Sellwood is now responsible for the institution's strategic direction, member experience, and internal operational oversight. This shift transitions leadership from Rick Skaggs to a figure familiar with the credit union's established internal management systems.
Timeline
October 19, 2026: Richard Sellwood officially assumed the role of president and CEO.
Market Landscape
This transition aligns with the broader credit union sector trend of promoting internal operations leaders to the CEO role to prioritize organizational continuity. It follows a pattern of internal succession common among mid-sized financial institutions managing over $1 billion in assets.
Operators should monitor whether this change in command leads to shifts in the credit union's lending criteria or member-service fee structures. Business owners with existing accounts or credit facilities at the institution should anticipate potential adjustments to administrative protocols under the new CEO.
The takeaway
The promotion of an internal operations executive signals a commitment to current management practices rather than a complete strategic overhaul. Business leaders should track the credit union's upcoming quarterly reports to identify any changes in operational focus under the new administration.
Further reading
For more on local leadership changes, visit the Tampa People section.
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