In one of Atlanta’s largest mergers in recent years, the $640 million Georgia United CU and the $205 million State Employees CU, both of Duluth, are looking to finalize a consolidation by May 1.
As part of the transaction, deemed a healthy merger of competitors, Georgia United follows through on a conversion sought from regulators and approved by members last year to switch from a federal to a state charter. Until last year, Georgia United was simply Georgia FCU.
A spokeswoman for Georgia United, which has 13 branches and 85,000 members, said discussions between the two CUs have been ongoing for months but is one benefitting both CUs.
“State Employees had really found itself eager to support its members with a broader range of online and high tech services deciding on a merger as the best solution,” said the spokeswoman.
State Employees, which serves government and university employees, has 24.000 members and last year ranked itself the 10th largest in the state. Georgia United has been seventh largest.
The merger won final approval in February from the NCUA. Members of State Employees approved the merger proposal at a special membership meeting Jan. 24. The computer conversion is slated for April 30.
New Chartway CFO
Chartway Federal Credit Union has tapped William M. Wright II as its chief financial officer.
Prior to joining the credit union, Wright taught business and strategic management courses at Regent University and served the Virginian-Pilot as CFO/divisional president of its Landmark Military Media operations. Wright, who has over 20 years of executive financial management experience, also operates an independent CFO consulting business.
“I am honored and humbled to assume the financial management responsibilities of this great institution at a pivotal moment in their story,” said Wright.
New CMO at Truliant
Truliant Federal Credit Union has named Karen DeSalvo the new chief marketing officer. She will lead Truliant’s marketing strategy across all of its services and products including membership, education, community outreach, research and business development. DeSalvo joins Truliant with over 20 years of experience in marketing, advertising and business development.
Prior to joining Truliant, DeSalvo served as senior vice president of marketing at Seven Seventeen Credit Union in Warren, Ohio for over 10 years.
During her pre-credit union years she was vice president of marketing with F.N.B. Corp. and served as vice president of marketing at Mahoning National Bank, now known as Huntington Bank.
The Golden 1 Credit Union has named Scott Vick senior vice president/chief financial officer.
Vick replaces Donna A. Bland, who previously held the position and was recently appointed as the Sacramento, Calif.-based credit union’s president/CEO.
He has over 11 years of experience, earned a Bachelor’s of Business Administration degree in Accounting from Texas Tech University and is a certified public accountant. Vick is also a member of the CUNA CFO Council.
Golden 1 has more than $7 billion in assets.
Chetco FCU CEO to Retire
After over 40 years serving the credit union industry, Stan Baron, president/CEO of Chetco Federal Credit Union, will retire effective May 1.
Chetco FCU Executive Vice President/General Counsel Peter Spratt will serve as interim CEO.
Under Baron’s leadership, since June 2000, the Harbor, Ore.-based credit union has grown from $100 million in assets to over $370 million and has taken a more active role in the communities it serves with an emphasis on assisting small businesses and the underserved. CFCU also began routinely sponsoring a number of community activities from recreational youth teams to the Food Bank and Meals on Wheels. With an eye on connecting with area youth, CFCU was the first to include financial literacy concerts in its youth outreach efforts, which include a mix of scholarships, financial literacy training in schools and operating branches in 14 of the area’s schools.
Baron’s retirement plans include a move back to the East Coast to spend more time with his grandchildren.
West Appointed CEO of Affinity
There’s a new leader at Affinity Group Credit Union. Glenda West has been named president/CEO of the Pontiac, Mich.-based institution.
Prior to joining the over $139 million credit union, West served as vice president of branch operations at Genisys Credit Union. Before Genisys, she served as CEO of DuPont Credit Union. West has also held leadership positions in several credit union membership groups, including service on the board of the MCUL Oakland County chapter for 15 years. With over 32 years of experience in the industry, West has done everything from teller to CEO.
“I am excited to step into the Affinity Group environment,” said West. “I am encouraged by the team of people, the current suite of products, and the member-focused attitude. We are well equipped to capitalize on our current position and I expect the future to be a journey of success for our staff, future merger partners, but most importantly, our members.
Since 2007, Affinity Group has united four separate credit union legacies into one team–Crestwood Community, Municipal & Health Services, WySouth and Kensington Valley Community–to share resources, build an expanded branch and ATM network, and continue to offer members the best suite of financial products.
“The Affinity model is an awesome business model for credit unions. In the past, I have been actively involved in more traditional credit union mergers and realize that this model, allowing credit unions to merge under one umbrella but keep their credit union name and identity, is a strong member-focused alternative,” said West.