Theobald brings more than two decades of leadership experience in the financial services industry, including the past three years as executive vice president and chief revenue officer at Day Air.
“I think Bill was setting the stage for this several years ago,” Theobald said in an interview. Those early conversations with board members and stakeholders revolved around whether to promote from within or to start an external search.
There is no timeline for Burke to step back or retire, Theobald noted. Burke has held the role of president and CEO since 1998.
“We are taking our time, being very thoughtful and careful as we go through this, as he passes the baton,” Theobald said.
In his most recent role, Theobald led “all revenue-generating operations — driving growth in lending, business development, and marketing — and played a pivotal role in the credit union’s continued expansion,“ the credit union said in a statement.
“John has been instrumental in shaping Day Air’s strategic direction and financial performance,” Burke said in the same statement. “His forward-thinking leadership and unwavering commitment to our mission have earned him the trust of our team, our members, and our board.”
Theobald joined Day Air in 2007 to lead the mortgage division, a role he held for six years. The company said he helped establish partnerships with Freddie Mac and the U.S. Department of Housing and Urban Development, helping also to implement an in-house mortgage servicing platform.
Following a tenure as president of CU appraisal services, he returned in 2016 as vice president of lending and later advanced to executive vice president and chief revenue officer.
“I’m a credit union guy,” Theobald said Friday.
“On behalf of the board of directors, we are confident that John’s leadership will guide Day Air toward an even stronger future,” said Brian Hayes, chairman of the credit union’s board. “His proven track record and deep understanding of both our membership and our mission make him a natural fit for this role.”
Day Air is a not-for-profit financial cooperative with about $870 million in assets and more than 53,000 members, up a bit from last year’s metrics of about $740 million and about 50,000 members. The company has said it has 30,000 surcharge-free ATMs, and more than 5,900 shared branches nationwide.
Future plans may include expanding the company’s branch footprint. The new president said there may be an announcement soon on a new financial services center.
“We are hyper-focused on Dayton, Ohio,” he said. “Our value proposition is that we are local.”
Readers named Day Air Credit Union the “best credit union” in the 2025 Best of Dayton Awards.
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