WEST VALLEY CITY, Utah — Deseret First Credit Union has named longtime executive Annalesa Vernon as its next president and CEO, succeeding Shane London, who will retire after 46 years with the $1.3 billion credit union.
Vernon, currently executive vice president and chief operating officer, will take over Jan. 4, 2027, Deseret First said Thursday. London will remain president and CEO through the end of 2026.
London informed the credit union’s board in March of his plans to retire, prompting a search that considered both internal and external candidates, according to Deseret First.
Vernon has served as COO since 2016 and also is president of Deseret First Financial Services, the credit union’s CUSO providing insurance services. She previously served as vice president of enterprise risk management and vice president of finance.
London Oversaw Near Tripling of Credit Union
London became president and CEO in 2012, becoming the fourth chief executive in Deseret First’s history.
At the time, Deseret First had approximately $420 million in assets. It now has $1.3 billion, more than 88,000 members, 13 branches and 230 employees, according to the credit union.
“Shane took the helm of a $420 million credit union and is handing over one that serves more than 88,000 members and holds $1.3 billion in assets,” board Chair Kathleen Fueston said.
Fueston said the board was particularly proud of seven consecutive years of strong member satisfaction scores during London’s tenure.
Set a ‘Standard’
“That is hard to do, and it is the standard he set,” she said. “In Annalesa, we found a leader who understands both our members’ why and the modern tools it takes to show them how.”
London also oversaw a multiyear modernization of Deseret First’s branch network, including new branches in Provo and West Point, relocations and rebuilds in Taylorsville and Bountiful and renovations in Logan, Murray and St. George. The renovated locations shifted from traditional teller lines to open teller pods.
The credit union also established the Deseret First Charitable Foundation during London’s tenure to assist missionaries representing The Church of Jesus Christ of Latter-day Saints who have limited financial resources.
London has served on the boards of the Utah Credit Union Association, FUEL Solutions and Alloya Corporate Federal Credit Union, among other organizations.
Vernon Has Finance, Risk Background
Vernon holds a bachelor’s degree in accounting from the University of Utah and an MBA from Brigham Young University. She also is a graduate of Western CUNA Management School.
London said Vernon’s experience in several areas of the credit union helped prepare her for the top position.
“I’ve had the privilege of working alongside her for many years and she has been an integral part of our success,” London said. “Annalesa understands our members, our people, and what makes this credit union different — and she has the vision to carry it forward.”
Vernon said she intends to build on Deseret First’s existing strategy while continuing to evolve the organization.
‘Defining Part of Career’
“This credit union has been a defining part of my career, and stepping into this role is an incredible privilege and a challenge I’m eager to take on,” Vernon said. “As CEO, my focus is on building on that strong foundation while pushing us to evolve and grow to deliver even greater value to the members we serve.”
After retiring as CEO, London will continue serving on the boards of the Deseret First Charitable Foundation, Deseret First Financial Services and Alloya Corporate FCU.
Founded in 1955 as LDS Church Office Credit Union, Deseret First serves more than 88,000 members nationwide. Membership is open to members of The Church of Jesus Christ of Latter-day Saints, employees of select employer groups and their immediate families.
