Once Failed, Wisconsin's Prime Financial Has New CEO
The $137 million Prime Financial Credit Union, once considered a failed Milwaukee CU and an early victim of the 2009 Central States Mortgage Corp., bankruptcy, has a new CEO, Christine Moczynski.
Moczynski has been serving as interim president/CEO since August after the CU, located in suburban Cudahy, emerged from state conversatorship by restoring its financial health.
Prime Financial has the distinction of being the first CU chartered in Wisconsin in 1923.
Moczynski has been with Prime Financial since 1995. She served as chief financial officer before becoming interim CEO and has also served as the credit union's controller.
"Chris has done an outstanding job leading Prime Financial, and we are delighted that she has accepted this permanent chief executive position," said HB Staffileno, Prime chairman.
Moczynski thanked the "independent board and talented staff for now helping continue the credit union tradition" of serving its 28,000 members.
Prime was the first southern Wisconsin CU that went into NCUA and state-engineered conservatorship after the CUSO-based Central States collapsed over faulty mortgage loans.Several other small Milwaukee CUs which had invested in Central States eventually opted for mergers with larger brethren.