Brian Mendivil, who has served as executive vice president for AEA Federal Credit Union for the past two years, was recently named the new interim CEO for the conserved credit union.
The NCUA confirmed the appointment with Credit Union Times on Friday.
Mendivil introduced himself to members in a letter posted on AEA’s website.
“As your interim CEO, I will put over 21 years of financial management experience to work for you. My commitment is to continue steering AEA Federal Credit Union on its positive course, while maintaining a members-first philosophy,” Mendivil wrote.
A native Arizonan, Mendivil said he is looking forward to his new role.
“Although my name may not be familiar to you, I have served as AEA’s executive vice president for the past two years” Mendivil said. “In my role as EVP, I have been actively involved in AEA’s re-emergence as a strong financial organization serving residents of Yuma and La Paz counties.
“It has also allowed me to meet many AEA members, community leaders, and business partners. I have enjoyed getting to know the warmhearted and spirited city I now call home,” Mendivil said.
Mendivil succeeds Tom Martin, who served as interim CEO since December 2010.
William Liddle, a former lending executive at the $231 million AEA in Yuma, Ariz., was convicted last summer of conspiracy, fraud, wire fraud and transactional money laundering for his role in a business lending kickback scheme that resulted in $25 million in losses for the credit union.
Liddle was sentenced to 15 years in prison, five years of supervised release and ordered to pay restitution in the amount of more than $25 million.
Liddle, along with his wife, Rhonda, and Frank Ruiz, an Arizona businessman, were arrested on Dec. 2, 2010 for their roles in approving questionable AEA business loans in exchange for nearly $1 million, according to the Arizona Office of the U.S. Attorney.
After two years under NCUA conservatorship, AEA appears to be on the mend. The NCUA recently said the credit union posted 2012 year-end net income of $3.15 million. Total assets at the end of the fourth quarter stood at $231 million, and the net worth ratio improved by 137 basis points from year-end 2011, ending the fourth quarter at 4.02%.