CEO Thomas Bonds confirmed to Credit Union Times that his $3.6 billion Corporate America Credit Union has hired NCUA Corporate Field Supervisor Dan Buckley to be vice president of risk management. Bonds said Buckley will begin his new position Sept. 13.
Buckley will assist Corporate America in the management of investments that will be permitted under the NCUA's proposed corporate rules, Bonds said.
Despite selling off the last of its legacy assets last month, the Birmingham, Ala.-based corporate has nearly doubled its assets since July 2009, growing by $500 million during July 2010 alone. Its investment portfolio has grown from $1.4 billion investments available for sale as of July 2009 to $2.8 billion one year later.
Bonds said both membership and investment growth are planned as part of Corporate America's strategy going forward after the NCUA releases its final corporate regulations.