RICHARDSON, Texas -- David Addison, president/CEO of Texans Credit Union, announced today that he will resign effective Jan. 31.
Mike Sauer, long-time Texans CU board member who has held all board officer positions during his tenure, will serve as interim CEO until a replacement is made by the board of directors within the next 90 days, according to the credit union. Addison served at the helm for nearly six years.
"The decision to leave Texans Credit Union was a personal one that involved much discussion and planning with my family and the board of directors," Addison said in a statement. "While I am saddened to depart from this wonderful institution, I have great confidence that the rich history and great success of Texans Credit Union will continue under the leadership of the board and able management team. I am looking forward to having more time to spend with my wife and two young boys."
Addison will help with the transition as the board searches for a replacement, the CU said.
Texans CU had a troubled 2008 hit with several lawsuits from former executives and the scale back of its member business lending program.