The $205 million 1st Financial Credit Union in Wentzville, Mo., has named Carol Minges, its CIO since 2008, as its interim CEO.
Minges succeeds Frank Nelson, a former NCUA examiner and CommunityAmerica CU branch officer who had been CEO of 1st Financial since 2010, when he took the helm after the credit union reported 2009 losses of $1.7 million in 2009 and $320,000 during the first six months of 2010.
A 1st Financial spokesman declined to provide further details on Nelson’s departure. The credit union reported net income of $107,793 during the first six months of 2013, according to its NCUA Call Report.
In her five years with the 35,000-member St. Louis-area credit union, Minges has “overseen the successful growth of innovative technologies and increased member security. Her experience in operations and information security has provided 1st Financial with the vision to increase product offering and member value,” the credit union said in its announcement Monday.
“I am humbled to be chosen for the role of interim CEO and am excited for the opportunity to continue working with a very talented team of professionals at 1st Financial,” Minges said in the statement.
Before joining 1st Financial, Minges spent 11 years with FORUM Credit Union in Indianapolis and five years with Arsenal CU in St. Louis, 1st Financial said.
“Over the last several years as a member of the 1st Financial executive management team, Carol has shown great leadership and an ability to gather our great team together to focus on providing our members with the best 1st Financial Federal Credit Union has to offer,” said Jim Combs, chairman of the 1st Financial Board of Directors.