Banking

Former Dallas Postal Credit Union CEO dead at 92

Calvin Phillips, the former CEO of Dallas Postal Credit Union – which rebranded in 2001 as Neighborhood Credit Union – died April 9 at age 92, according to a statement from the credit union.

Phillips spent more than 40 years in the credit union movement, starting out as an employee of Cotton Belt Credit Union in 1948. Later that year he moved to Dallas Postal and after 10 years there was appointed president and CEO. He led Dallas Postal from 1958 until his retirement in 1988.

Calvin Phillips, center, speaking during a Dallas Postal CU annual meeting

Photo courtesy of Neighborhood Credit Union

Along with credit union leadership, Phillips spent 18 years on the board of directors for the Texas Credit Union League and helped negotiate the purchase of Town North National Bank. In addition to serving on several industry boards, Texas Gov. Bill Clements appointed him to the state’s credit union commission, which he chaired form 1983 to 1985.

By the time Phillips retired, Dallas Postal had expanded its membership from 2,000 to more than 18,000, and he remained active on the credit union’s board until 2012. Today the credit union serves over 56,000 members with assets exceeding $1 billion.

“Calvin was a pioneer in the credit union industry and led Dallas Postal Credit Union to many major milestones,” Neighborhood CU President and CEO Chet Kimmell said in a statement on the credit union’s website. “Personally, he was a friend and mentor to me and will be greatly missed.”


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