POULSBO ­— Jim Morrell is the new president and CEO of Peninsula Credit Union.

He was hired by the credit union’s Board of Directors.

Morrell has more than 20 years of financial experience, including 17 years in the credit union industry. His most recent position was that of senior vice president of support services at iQ Credit Union in Vancouver.

At Peninsula, he succeeds Steve Gorseth, who is retiring in June.

Morrell has a master’s degree in management from Willamette University’s Atkinson Graduate School of Management, and a bachelor of arts in economics from Pacific Lutheran University.

Morrell was recognized as 2010 Distinguished Credit Union Professional of the Year by the Washington Credit Union League, and 2008 Information Technology Executive of the Year by Credit Union Times.

Peninsula Credit Union was established in 1935. It has five branches with assets of $150 million and about 20,000 members.