The incoming president/CEO of Silver State Schools Credit Union eyes the turnaround challenge as one he is ready for and even looks attractive “considering I had become a little restless in retirement.”
Andy Hunter, the former CEO of Patelco CU in San Francisco, told Credit Union Times he has no illusions about the job that lies ahead in bringing about a financial recovery to the beleaguered $725 million Las Vegas CU whose long-time CEO, David Rhamy, 55, announced he is leaving July 11 to resume a legal career.
The 61-year-old Hunter, who retired from Patelco in 2009, said he has spent the intervening two years “two or three days a week aiding a Bay Area CU on its asset/liability management.” He said of the $18 million Financial Benefits CU of Alameda, “It has been satisfying to be a volunteer to help them out.”
Hunter also acknowledged he had been formally approached about the top job at Silver State, the nation’s largest privately insured CU, two months ago and had previously been considered by its board for a key management support job.
Hunter said one reason the Silver State helm had appeal is because it draws “on my own experience working in an educational field of membership” citing his tenure at Schools First FCU in Santa Ana, Calif. and at other educator-based CUs prior to six years as CEO at the $3 billion Patelco.
Moreover, he added, “I do come from a family with members in the education field.”
Hunter said he had no intention of shifting Silver State from private to public insurance, a step taken years ago by the San Francisco CU. “That is not part of the game plan” at Silver State, he said.
Patelco made the move out of private insurance was the result of improved merger opportunities as an NCUA-insured CU, Hunter said.