More than two months after Kyle Markland suddenly resigned as president/CEO of Affinity Plus Federal Credit Union, the cooperative's third quarter financials reveal significant decreases in net income.
On Aug. 28, Markland left Affinity Plus' top post after 16 years of service at the $1.7 billion credit union in St. Paul, Minn. According to Dave Larson, who was named interim CEO shortly after the announcement, Markland's departure was prompted by an empty nest and the former executive's desire to evaluate his future.
At the time of Markland's resignation, Affinity Plus reported a 0.57% return on assets as of June 30, according to its financial performance reports posted on the NCUA website. In the third quarter, ROA dropped to 0.25%. Comparatively, in June 2012, the credit union reported 1.45% ROA.
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