SACU honored retiring Chief Executive Officer Jeffrey H. Farver in an event at the JW Marriott Resort on November 19, recognizing his dedicated leadership to the credit union for the past 21 years. A highlight of the evening was the announcement of the Jeffrey H. Farver Endowed Scholarship to benefit Alamo Colleges students.

Farver and his wife Jennifer were honored for their many contributions to the credit union, San Antonio and to the credit union community at large. Business colleagues, former employees, friends and well-wishers came from afar to say thank you and to wish the Farvers well as they move into the next phase of their lives. Attending from Farver's family were son Jeremy, wife Rhema and children Avery Lily and Christian Jeffrey; and daughters Jill and Jessica. Out-of-town guests included President and CEO Bill Cheney, Credit Union National Association (CUNA); Harriett May, CUNA Board Chair and president and CEO of Government Employees CU of El Paso; and Richard Ensweiler, President and CEO of the Texas Credit Union League.

SACU Board Chairman Frank Burk presented Randy Smith and Jim Eskin of the Alamo Colleges Foundation with a check for $100,000 to endow the scholarship in Farver's honor. The gift represents one of the largest endowed scholarships in operation at the Alamo Colleges Foundation. Eligibility for the scholarship will be broad in order to make the scholarship available to the greatest number of students across all five Alamo Colleges and to expedite the awarding process. As an endowed scholarship, the number and amount of awards will be determined by the funds available from the interest earned on the endowment. The first scholarships will be awarded for the fall 2012 semester.

"After working with Jeff Farver for more than two decades, I know how much he values education at all levels," Chairman Burk said. "I also recognize how much he values San Antonio and the opportunity he has had to be a leader in this community. This scholarship, therefore, blends his passion, reputation and love for San Antonio into one clear statement."

When Farver came to San Antonio in July 1990, the financial cooperative was plagued with problems associated with a state-wide recession and slump in the oil industry. Through his expertise and management skills, Farver brought SACU from $500 million in assets to today's robust $2.9 billion. During his 21 years, he established SACU one of the most respected financial cooperatives in the nation.