City Leaders Mourn Ferrence, Boulder Dam CEO
Tributes from city leaders and politicos continued to pour in Wednesday for the late William Ferrence, the president/CEO of Boulder Dam Credit Union in Nevada described as the community's "most beloved leader" and a bold activist.
Ferrence, head of the CU located in a community of 16,000 in the Las Vegas foothills, died Sunday. He was 67 and suffered from bladder cancer.
"Our whole city is in mourning," said former County Commissioner Bruce Woodbury as he and other leaders cited Ferrence's charity and booster work also making the CU the largest financial institution in the city holding 90% of deposits.
Local press reports said Eric Estes, executive vice president, was named interim CEO of the CU which is privately insured by American Share Insurance Inc. of Ohio.
During his tenure, Ferrence, who joined the CU in 1974, often touted its performance on real estate loans. There were reports the CU drew examiner criticism for its real estate volume with one source noting that a recent call report shows that of $211 million in loans, $187 was in real estate.
Among those paying tribute to Ferrence was Senate Majority Leader Harry Reid. (D-Nev.) and Sen. John Ensign (R-Nev.)