The Board of Directors for Troy’s Commercial Alliance, an underwriter and servicer of commercial loans for credit unions, announced that Scott Wolffis will succeed Terrence McHugh, as president and CEO. McHugh is retiring.
“The Commercial Alliance Board of Directors has done a fantastic job filling this position for our company,” says McHugh. “Scott has all the tools and experience necessary to lead Commercial Alliance in the years to come! His collaborative, team building style fits well with our company and the Credit Union industry.”
With 30 years of Business Banking experience, Wolffis comes to Commercial Alliance from Fifth Third Bank, where he was senior vice president of business banking national sales manager. Prior to that, he spent 13 years with Huntington Bank in various roles of business banking where he managed a $2.6 Billion loan portfolio.
“We are extremely excited to welcome Scott to Commercial Alliance,” says Ted Parsons, chairman of the board at Commercial Alliance. “We are looking forward to Scott’s leadership and are confident that his years of banking experience and perspective will lead to further success for Commercial Alliance in the years to come.”
McHugh began his commercial lending career in 1979 at Michigan National Bank (MNB), holding management positions in commercial loan officer training, underwriting, and middle market lending. In all, he spent 19 years with MNB.
In July 2004, a small group of credit union CEOs created Commercial Alliance and named McHugh the organization’s first and only president and CEO. Under his leadership, the company has grown to almost 60 employees providing service to 115 credit unions with a portfolio size of $877 million in commercial business loans.
“Terry has built this company to what it is today from day one. He is one of the most respected commercial lending experts in the industry with 43 years of experience,” says Parsons. “Terry has been a tremendous asset to Commercial Alliance over the past 18 years, and we are thankful for him building the strong foundation for us to continue to grow in the future.”
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