CDF Capital has announced a leadership transition that will see president and CEO Dusty Rubeck retire from those roles and longtime CDF board member Eric R. Schroeder replace him on July 1.
After that date, Rubeck, who was recruited to lead CDF Capital nearly eight years ago, will serve as executive advisor to the board and CEO through the end of this year, according to an announcement at CDF Capital’s website. Rubeck previously had announced his desire to retire from his current roles, which precipitated a formal search process for a successor.
CDF Capital, based in Irvine, Calif., is one of a trio of loan funds (with The Solomon Foundation and Christian Financial Resources, or CFR) that provide loans to independent Christian churches and churches of Christ. CDF Capital bankrolls church loans nationwide. It has more than $600 million in total assets, according to its website.
THE INCOMING PRESIDENT AND CEO
Schroeder has served on CDF Capital’s board since 2010. He is bank founder and partner for CrossFirst Bank in Leawood, Kan., south of Kansas City. Since helping found the bank in 2006, he has held a range of roles at CrossFirst, most recently serving as managing director of institutional banking. He has more than 33 years of bank-related experience. He also served a term as a bank examiner for the Office of the Comptroller of the Currency. Schroeder holds a B.S. in Business Administration from Central Missouri State University.
Schroeder and his wife, Julie, share lifelong involvement in the Christian churches and churches of Christ. He also continues in his role as part of a third-generation family farm in Missouri.
“[Schroeder’s] extensive banking experience, deep connection to the Christian church, and long service to the CDF Capital board uniquely position him to build on the current foundation while bringing growth and expansion to CDF Capital’s work around the country,” said board chairperson Ken Thompson. “The board considered many factors when conducting this search, and Eric met or exceeded every one of them.”
APPRECIATION FOR RUBECK’S LEADERSHIP
Rubeck has served nearly eight years as president and CEO.
“When Dusty Rubeck was recruited,” Thompson said, “the board asked him to make broad changes in this ministry to prepare it for the future. He and his team have transformed CDF Capital, resulting in an energized culture, a strengthened financial condition, and an expanded ministry impact on churches beyond just financial lending.” Thompson said he is pleased Rubeck will work through the end of the year “to help ensure a smooth transition.”
“Dusty and the CDF Capital team have built a great organization focused on ‘Helping Churches Grow,’” incoming president and CEO Schroeder said. “I love the church and hope to use my God-given strengths to assist in this mission. The church plays a vital role in our communities, and pointing people to Jesus will continue to be our primary focus as we help churches with financial, leadership, and spiritual capital.”
Rubeck expressed appreciation “for the opportunity to lead CDF Capital through this past season of ministry expansion.” His team, he said, has shown “outstanding commitment to the kingdom and our unique role within churches across the nation.”
“I am very excited Eric Schroeder has accepted the call to lead CDF Capital into the future,” Rubeck continued. “He and the rest of the board members have been true partners in the expansion of this ministry over the last decade, so he has an outstanding perspective on our needs for the future.”
CDF Capital was founded in 1953 as Churches of Christ Building and Loan Fund, but soon changed its name to Church Development Fund; in 2016 the lending organization adopted its present name. Since its founding, CDF Capital has assisted with the expansion and growth of more than 1,000 churches and ministries across the United States.