Citing competing business interests, William B. Eckhardt, a CUNA Mutual board member since 2005 and president/CEO of Alaska USA Federal Credit, has resigned his CUNA Mutual director seat.
In a statement, the Anchorage CEO said he is leaving the insurer in light of a planned CU venture in the personal insurance field.
Eckhardt called himself one of the organization's "strongest advocates" but chose not to seek re-election to the CUNA Mutual board in light of "anticipated business obligations."
A spokesman declined to elaborate on Alaska USA's expansion plans or to identify what state might be the business target.
Most recently, the $4 billion Alaska CU has carried a high profile as a merger partner in southern California's High Desert country consolidating two small CUs near Victorville and last month offering to buy five branches of the struggling Arrowhead Central CU of San Bernardino.
Commenting on the resignation, CUNA Mutual quoted Eckhardt as acknowledging his CUNA Mutual service as one of his most rewarding opportunities in a CU career with Alaska USA stretching to 1979.
Though it issued a press release announcing the Eckhardt departure, CUNA Mutual stressed that changes in board structure are not unusual as directors have personal or business reasons for stepping down from the agency.
--jrubenstein@cutimes.com
