Morgan, Ex-APCO CEO, Nominated New Alabama Administrator
Alabama Gov. Robert Bentley, a Republican, has appointed former APCO Employees Credit Union CEO Larry Morgan as the state's top credit union regulator.
Morgan, who retired from the $1.9 billion APCO at the end of the year, will succeed Glenn Latham as administrator of the Alabama Credit Union Administration. APCO of Birmingham is the largest state-chartered CU.
Morgan, who retired from APCO after 38 years, served on the ACUA Advisory Board from 2005 until his appointment this year. His appointment is subject to state senate confirmation.
"Gov. Bentley's appointment of Larry Morgan gives great confidence to Alabama credit unions," said Patrick La Pine, president/CEO of the League of Southeastern Credit Unions. "Larry understands credit unions in Alabama and the regulatory issues facing them which means that he will provide a steady and fair hand with the ACUA. The LSCU looks forward to working with Larry to improve the operating environment for credit unions."
At APCO, Morgan was replaced as CEO by Merrill Mann, vice president.
"The League would also like to recognize and thank outgoing ACUA Administrator Glenn Latham for his years of service to credit unions in Alabama," added La Pine. Latham, who served under Gov. Bob Riley, whose eight year term ended in December, had informed Gov. Bentley he would not seek a reappointment, officials said.