AOD FCU Confirms Simonton No Longer CEO
Richard Simonton is no longer the president/CEO of the S261.9 million AOD Federal Credit Union.
An employee at the Bynum, Ala.-based credit union provided Credit Union Times with that update Monday. She did not indicate Simonton’s departure date. He was hired in December 2012 to lead AOD FCU.
All questions were referred to an administrative assistant, who has not responded to several messages.
On Aug. 27, Simonton told Credit Union Times he was unsure why the credit union’s board of directors denied his request for a commitment for future employment.
He said there was a possibility that he would be leaving AOD FCU at the end of October. However, Simonton noted that there were other factors at play that could impact his future at the credit union.
Still, he was pursuing other opportunities in the area, he said. Simonton told Credit Union Times he would be able to talk more at a later date.
Attempts to reach Simonton were unsuccessful.
While Simonton worked at AOD FCU in Bynum, a town roughly 60 miles east of Birmingham, Ala., his wife and family of 14 stayed behind in Florida. He said seven of his children still live at home.
Simonton said he came to the credit union with the intent of staying but needed assurance that he had a job so that he could move his family to Alabama.
Attempts to reach AOD FCU Board Chairman Gordon “Doc” Williamson, who said at the time of Simonton’s appointment, “With his knowledge and over 30 years of experience in the credit union industry, as well as his dedication to member service, Rich will be a strong leader as the credit union continues to grow,” were unsuccessful.
Prior to coming to AOD FCU, Simonton served as a conservatorship CEO at the NCUA, according to the credit union’s January 2013 member newsletter. He also served as both the CEO and chief financial officer for the $467 million Insight Credit Union in Orlando, Fla., from 1993 to 2010.
Simonton has held positions as CFO and vice president of finance at several other credit unions and was a member of the audit committee of the former Southeast Corporate Federal Credit Union in Tallahassee, Fla. He began his career in financial services as an examiner for the NCUA.