MEMBERS1st Names New CEO

The Board of Directors of MEMBERS1st is excited to share that Iowa native Nick Tonelli will become the credit union’s next CEO, starting in mid-to-late April. Tonelli’s new role follows four years as CEO of one of the fastest growing credit unions in the country, Germania Credit Union in Brenham Texas.

Prior to leading Germania Credit Union to such great success, Tonelli was a retail regional manager at Collins Community Credit Union in Cedar Rapids, leading eight credit union branches across the state of Iowa. Prior to that, he was a branch manager at Greater Iowa Community Credit Union, at various locations, including Ames and West Des Moines. Tonelli Graduated from Iowa State University in 2007 with majors in Finance and Management. He graduated from Southwest CUNA Management School in 2021.

“A diverse credit union leadership experience, combined with 16 years of experience with financial institutions, makes Nick the right person to lead MEMBERS1st into the future,” said MEMBERS1st Board Chairperson Tami Lichtenberg. “Our board is pleased to have him continue to build momentum as we move forward.”

Tonelli’s April 2023 start coincides with the retirement of CEO Janet Borer, who has led the credit union for the last nine years.

“There are some incredibly exciting things on the horizon for MEMBERS1st, and I’m excited to continue the amazing work that Janet has done,” said future CEO Nick Tonelli. “I look forward to serving the Marshalltown, Ames, Boone, Eldora, Iowa Falls and Traer communities as we continue the credit union’s mission of Financially Empowering Central Iowa.”