Hunter announced last July his plans to retire in mid-2009 in order to provide the credit union's board with plenty of time to find a replacement. The credit union started a nine-month search that ended with Burns, CEO of $1.3 billion Technology Credit Union in San Jose, Calif.
Burns took over at Patelco on May 1 and will work together with Hunter for a short transitional period.
"We went through a long and deliberate national search to find the right person who could continue to provide the strong leadership and vision Patelco enjoyed from both Ed Callahan and Andy Hunter over the last two decades," said John Rubino, chairman of the board at Patelco.
Burns served 13 years as CEO at Technology CU. During his tenure, Technology CU reached the billion-dollar mark in assets, expanded its charter to open its membership to those living and working in the six Bay-area counties, added business services and mobile banking, and led the credit union to growth in the area of mortgage lending.
"Ken has done a wonderful job as CEO for Technology Credit Union, and I credit his strong leadership, extensive knowledge of the industry and prudent guidance as primary reasons for Tech CU's successful growth and stability over the past 14 years," said Mical Atz Brenzel, chairman of the board for Technology CU. "Ken has been an inspiration who will truly be missed."
In a press release, Burns was described as a progressive administrator with a clear focus for navigating the current economic challenges with a long-term vision of growth. Burns was not available for comment at press time.
"There is no question that there are significant short-term economic problems to be faced, but I remain confident they are manageable," Burns said in a statement. "When our members struggle, the credit union suffers but we are prepared for such challenges. Long term, the future at Patelco is incredibly bright. I am honored and excited to be joining an exceptional board and staff committed and focused on brining increasing value to the Patelco member."
Burns' background includes serving a term as the chapter president of the California Credit Union League and sitting on the task force of the California Department of Financial Institutions on Prompt Corrective Action. He started his career working as an auditor at McGladrey and Pullen Accounting Corp. He then moved to become accounting manager at San Mateo Credit Union, and from there, became chief financial officer at Bay Federal Credit Union, where he was promoted to CEO until coming to Technology CU.
Burns predecessor, Hunter, joined Patelco in 1990 to work under Ed Callahan. When Callahan retired in 2003, Hunter took over as CEO.