"The worst of this recession is over and the credit union is on a solid track to start earning positive revenue in 2010. It is time to turn the credit union over to new leadership," said Sebastian.
During his tenure, GTE FCU has grown from $160 million to $1.6 billion in assets and membership has increased from 40,000 to 205,000. Sebastian said with a new headquarters complex, a new computer system and streamlined operations, the credit union is well-positioned for the future.
Effective Jan. 24, 2010, GTE FCU Chief Financial Officer Rich Helber will serve as interim president/CEO. Helber, who joined the Tampa, Fla.-based credit union in 2000, has been responsible for strategic planning and financial operations, as well as the GTE FCU Foundation and the property and casualty insurance agency and investment group subsidiaries.