New President / Chief Executive Officer named by Diamond Credit Union’s Board of Directors

Diamond Credit Union’s Board of Directors, in collaboration with D. Hilton and Associates, Inc., has chosen Rick Patel as its new President and Chief Executive Officer. Patel was selected from over 300 candidates after a nationwide search.

“Diamond is well known throughout the industry for its culture, team, and commitment to members and their community,” said Patel. “I’m grateful for the opportunity to serve and lead such a strong organization.”

Patel will begin immediately. He takes over for John Faust who announced on September 3rd his intentions to retire this spring. Faust will remain with Diamond for several weeks to aid in the transition.

Patel comes to Diamond from Police and Fire Federal Credit Union, where he was the Senior Vice President – Retail Financial Services. While with PFFCU, Rick managed all aspects of the Retail Banking Network of the $7.5 billion credit union.

Before joining PFFCU, Rick was the Senior Vice President – Regional Manager of Bucks County, PA at PNC Bank, where he managed Retail Banking, including 17 branches, extensions of the Business Banking and Commercial Banking Team, Investment Team, Wealth Management Team, Mortgage Team, and Consumer Lending Team.

Patel holds a Bachelor of Science of Business Administration in Finance, Management, and MIS from the University of North Carolina and a Master of Business Administration in Banking and Finance from Gardner-Webb University. He is also in the process of completing his Doctor of Business Administration in Strategic Management at Liberty University.

“The future of Diamond Credit Union is in good hands,” said Pat Austin, Chairman of Diamond’s all volunteer Board of Directors. “Rick’s vision aligns with the culture that already thrives at Diamond while his passion for service and his experiences are ideal to help keep it moving forward.”

Diamond Credit Union is the 14th largest credit union in Pennsylvania and is headquartered in Pottstown, Pa., with six additional offices. Diamond serves Berks, Montgomery, Chester and Bucks Counties, and holds over $940 million in assets with over 64,000 members. For more information about Diamond Credit Union, please visit diamondcu.org