Bonds requested and was granted the leave by the credit union’s board of directors, according to a release by the Birmingham-area institution.
Bonds told Credit Union Times he could not comment on the action, other than to confirm the accuracy of Corporate America’s release. Bonds was awarded the Credit Union Times’ Trailblazer CEO of the Year award in 2011.
The board unanimously appointed Daniel J. Buckley as acting CEO while Bonds is on leave. Buckley is the credit union’s senior vice president of risk management. Buckley came to Corporate America in September 2010 following a 25-year career at the NCUA.
“We want to assure our member credit unions that Corporate America is financially sound and remains one of the few corporate credit unions not mandating capital contributions from its members,” Buckley said. “It’s business as usual while Mr. Bonds is on leave.”