The $950 million Elevations Credit Union has hired Jay Champion, the former CEO at Texans Commercial Capital LLC, to lead a business lending and services initiative.
Champion has been named chief lending officer at Elevations in Boulder, Colo., the credit union said today. A 22-year banking, insurance and credit union executive, he will lead a lending initiative that will include business lending as well as developing a line of business services.
Champion previously served as executive vice president and chief lending officer at the $1.7 billion Texans Credit Union. He also served as president/CEO of Texans Commercial, which later changed its name to Credit Union Liquidity Services LLC after Texans CU sold its majority interest in the CUSO.
Last February, a federal bankruptcy court ruled in Texans CU's favor regarding a lawsuit filed by four investors with Realty America Group LLC, who claimed TCC had breached a contract involving a defaulted Illinois property loan. The court ruled that the real estate investors owed the commercial real estate CUSO $40 million.
Elevations has also hired Todd Kern as vice president of marketing and Ryan Klassen as assistant vice president of credit risk management.
"These key additions to our management team will enable us to substantially increase our suite of product offerings while continuing to grow and strengthen our financial performance," said Gerry Agnes, president/CEO of Elevations. "Expanding the depth and breadth of our management team has been a key focus for us."