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Meet Lucro’s new CEO: Nick Darvill

Lucro Commercial Solutions, a CUSO of Corporate One, has announced the promotion of their new CEO, Nick Darvill. Jim Gallagher, who served as CEO since the company’s inception in 2003, announced his retirement as CEO in December 2020 and will remain with the company as a close advisor.

“On behalf of Corporate One and the Lucro team we’re thrilled to announce Nick as the incoming CEO,” said Gallagher. “He’s more than equipped to lead Lucro into the future as a proven and well-respected leader. Nick has played an integral role in the growth and success of the company since arriving at Lucro in 2010. I have the utmost confidence that Nick will lead our more than 50 employees and 100+ partner institutions to continued success for many years to come."

Nick was promoted to president in May 2020 and will retain this title as he assumes the role of CEO. During his more than 10 years of management experience, he and his team have had no material underwriting findings reported for the hundreds of NCUA audits Lucro clients have participated in. Nick was promoted to Senior Vice President, Credit, in 2017 when he created the Real Estate Appraisal Services Department and helped develop and implement Lucro’s new dual risk rating system. Since its inception, this system has been adopted by 75% of Lucro’s underwriting members and furthered the precedent of delinquency and charge-off ratios well below the national average. Nick was then promoted to Executive Vice President, Credit, where he oversaw the entirety of Lucro’s operations six including the supervision of 41 employees.

Nick is also a founding and current committee member of Lucro’s newest product offering, the award-winning Digital Business Lending Center, a turnkey, online, business loan application portal with more than 30 credit unions invested.

“I am honored to have been chosen as the next CEO of Lucro Commercial Solutions,” said Nick. I’d like to thank Jim and the selection committee for the confidence they have placed in me to lead this truly amazing organization. I’m excited to get started and have great plans to develop business lending solutions to help our partners grow. I welcome the opportunity to continue the legacy that Jim established.”