First Federal Lakewood Board Appoints Meltrice Sharp and Ronald Dugas to Board of Directors

2025-07-01

First Federal Lakewood, the largest mutual bank in Ohio, announced the appointment of Meltrice Sharp and Ronald Dugas to its Board of Directors. Sharp is a Founder and Managing Partner of Creating Leading Enterprises (CLE) Consulting Firm, an accounting and consulting firm offering accounting, tax, payroll and business consulting services to small and middle market companies, nonprofit organizations, religious organizations, and individuals. Dugas is the President and CEO of DRM Financial, LLC, a consulting firm specializing in risk management solutions for banks, broker-dealers, and investment advisors.

“We’re delighted to welcome Meltrice and Ron to our Board of Directors. Meltrice brings extensive experience in accounting, finance and tax services, along with a history of deep involvement in Cleveland’s civic arena. Ron’s career spans more than four decades in the financial services industry, including substantial expertise in risk management. The perspectives Ron and Meltrice will contribute to First Federal Lakewood will be invaluable in helping to guide our strategic initiatives,” said Rebecca Ruppert McMahon, First Federal Lakewood Board of Directors Chairperson. “Their combined strengths and dedication to mutuality will undoubtedly contribute to the continued success and growth of First Federal Lakewood.”

In addition to being the managing partner at Creating Leading Enterprises (CLE) Consulting Firm, Sharp is an adjunct instructor at Cuyahoga Community College (Tri-C), where she teaches a variety of accounting courses. Sharp is also the Founding Member of Women Creating Wealth & Impact, an organization that addresses the education, knowledge, and access gaps with women and finance. Sharp received her BBA with a concentration in accounting from Kent State University and her MBA from Baldwin-Wallace University.

With a career spanning more than four decades, Dugas has significant experience in the financial services industry. Prior to founding DRM Financial, he held executive roles at Huntington Bancshares and KeyCorp, where he led several major initiatives, including restructuring integrated risk management programs, managing large-scale portfolios, and overseeing anti-money laundering compliance. Dugas began his career as an examiner with the Office of the Comptroller of the Currency after graduating from the University of Louisiana with a degree in accounting and finance.

“Meltrice and Ron’s specific expertise in financial services, accounting, and risk management strengthen our Board’s capabilities in these critical areas,” said Timothy E. Phillips, First Federal Lakewood President and CEO. “Their input will be instrumental in strengthening our governance and risk mitigation strategies as we continue to drive the bank forward.”

About First Federal Lakewood
First Federal Lakewood is the largest independent depositor-owned bank headquartered in Ohio with assets of $2.6 billion. With 20 full-service branch locations and three mortgage lending offices throughout Ohio, First Federal Lakewood provides deposit, lending, residential mortgage lending, cash management and investment services to individuals and businesses. Since 1935, First Federal Lakewood has been a stable, community-owned bank committed to deploying funds that foster local economic growth. FFL.bank