Velocity Credit Union CEO Larry Strong dies at 61

For immediate release Larry Strong, longtime CEO of Velocity Credit Union in Austin died unexpectedly on Sunday evening. Services will be held at 10 a.m. on Wednesday, Nov. 26, at the Harrell Funeral Home, 4435 Frontier Trail, Austin, with burial to follow in the Fitzhugh Cemetery. Strong served at Velocity Credit Union (formerly AMFCU) for more than 30 years, taking on the role of president and CEO in 1988. In 2003, under Strong’s leadership, the credit union – one of Austin’s oldest – changed its name to Velocity Credit Union. Strong acknowledged changing the name of a 55-year old institution wasn’t easily done, but the management team knew it was time for a change. “Our determination to grow and adapt with the times is what has made us strong,” Strong said. “The name ‘Velocity Credit Union’ speaks to our new energy, our forward momentum and a renewed commitment to helping our members reach financial success.” During that same period, the credit union had expanded its membership charter to include the five counties in and around Austin. The credit union membership and assets grew to its present size of $470 million and over 84,000 members. In January of 2008, Strong stepped down as president, but maintained a visible and active role as CEO and a member of the board of directors of the 60-year-old Austin institution. Debbie Mitchell, former COO and longtime protégé of Strong, was appointed president. Strong took great pride in his service at the credit union and created a real family atmosphere among the employees, whom he offered referred to as his “children.” He was a maverick in the truest sense of the word, and was a real leader in the credit union movement. Larry Strong was a rare breed and will not be soon forgotten. Strong is survived by his wife Vicki Puryear Strong; his two daughters, Shannon Strong and Lorie Strong-Baez ; her husband, John Baez; three grandsons, Garrett, Ryan and Jacob Baez; his brother and sister-in law Charles and Ginny Strong and his mother-in-law, Alice Mae Perkins. He was preceded in death by his parents, Lester and Betty Strong.