John M. Tippets, CEO of American Airlines Federal Credit Union, Retires After 17 Years of Service

FORT WORTH, Texas, June 17 /PRNewswire-FirstCall/ -- American Airlines Federal Credit Union (AA Credit Union) announced today that CEO John M. Tippets will retire June 30, after 17 years of service. AA Credit Union President Angela K. Owens, will succeed Tippets as CEO.

Tippets will be honored at "Fun Takes Flight," an aviation industry celebration, Saturday, June 21, from 10 a.m. to 2 p.m. CDT. Current member-owners, their families, and eligible members who work in the aviation industry are invited to attend the event which will take place at the American Airlines C.R. Smith Museum, 4601 Texas Highway 360 at FAA Road, Fort Worth, Texas.

During the event, Tippets will be available for a book signing of his newly published book, Hearts of Courage, the miraculous 29-day survival story of his father's 1943 plane crash in Alaska.

"The Credit Union is deeply indebted to Mr. Tippets for his dedication to serving our member-owners for 17 years. 'Fun Takes Flight' provides a fun environment for guests to meet with him and wish him well in retirement," Owens said.

Tippets was CEO of AA Credit Union from 1991 to 2008, a period of substantial growth and service innovations. He helped the credit union grow its assets from $1 billion to $4.8 billion, increasing the number of branches and loans outstanding by four-fold, and doubling the number of member-owners. Prior to 1991, Tippets served for eight years on the AA Credit Union Board of Directors.

Tippets holds Bachelors and Masters degrees in Business, with an emphasis in Finance, from University of California at Los Angeles. He first joined American Airlines in Los Angeles in 1966, and in 1967 transferred to the Corporate Planning department at American's headquarters, then in New York City. Between 1972 and 1990, Tippets held officer level positions in finance, marketing, planning and operations for Sky Chefs Inc., a catering and food services subsidiary of American Airlines at that time.

Tippets has been active in the credit union community, serving frequently as a speaker/panelist on several industry committees with the National Association of Federal Credit Unions (NAFCU) and the Credit Union National Association (CUNA). He served a term with the Federal Reserve Board of Governors Thrift Institutions Advisory Council, and a term with the Fannie Mae National Advisory Council. He currently serves on the NAFCU Board of Directors and the PULSE Oversight Committee.

Tippets is an Advisory Board Member of the "Initiative On Financial Security," an Aspen Institute Group working to find the best ways to encourage Americans to save for homes, education and retirement (with a specific focus on those of modest incomes). He participated with, and then chaired, the Texas Committee for Homeowners Rights. This committee was responsible for working with the Texas Legislature in passing legislation to allow Texas consumers to have access to home equity loans.

AA Credit Union is a strong supporter of the development of small credit unions, and Tippets has especially enjoyed working with the New Mount Zion Baptist Church Credit Union in Dallas. Tippets has also been active in the community, including holding several different roles with the Tarrant County and DFW International Airport United Way Annual Fundraising Campaigns and as a lay leader in his church. He has been active in credit union political advocacy and has met with federal and state legislators on credit union issues.

Tippets plans on enjoying his retirement by spending more time with his family as well as catching up on reading and continuing to learn something new every day. He looks forward to having more time to continue writing the life histories of his parents.

     "Fun Takes Flight" - June 21
     Hearts of Courage Book Signing with John M. Tippets
     12:30 p.m. - 2 p.m.
     -- Hearts of Courage will be available for purchase at the C.R. Smith
        Museum book store.

To learn more about AA Credit Union, or to become a member-owner, call (800) 533-0035, visit http://www.AACreditUnion.org, or attend the "Fun Takes Flight" celebration to take advantage of exclusive, limited-time offers.

American Airlines Federal Credit Union was founded in 1936, and today serves the present and retired employees of American Airlines, their family members, and others who work in the air transportation industry. AA Credit Union has more than 210,000 member-owners and assets of $4.8 billion. As a cooperative financial services institution, the Credit Union's goal is to provide the best possible benefits and services for its member-owners.