The $2.2 billion Alloya CorporateFederal Credit Union announced Tuesday that its board has namedTodd Adams the corporate's new CEO.

Adams, who was previously senior vice president and president ofsubsidiary Balance Sheet Solutions, had been interim CEO sinceSeptember following Bill Walby's resignation.

Adams will take over the permanent role effective immediately,Alloya said in a release. The move will mark the third CEO forAlloya in the past year; Walby was named CEO earlier this yearafter Alloya merged his Detroit-based Central Corporate CreditUnion.

Charles Furbee, who the NCUA convinced in 2010 to come out ofretirement to run Members United Corporate FCU following itsconservatorship, was CEO before Walby. Furbee had been a seniorvice president at the Federal Reserve Bank of Chicago and led thecorporate through its recovery and recapitalization process.

“After a national search, we are delighted to have foundAlloya's new CEO from within the corporate,” said Chair Amy Sink,who is CEO of the $670 million Interra Credit Union of Goshen,Ind.

“While we interviewed many talented individuals, we felt thatTodd's skills and experience were the right fit for Alloya,” Sinksaid. “This appointment brings continuity to the corporate and bestensures that we will continue to build on the positive momentum ofthe past two years.”

Adams is a CPA and a member of the American Institute ofCertified Public Accountants and received a bachelor's degree inbusiness administration/accounting from the University of Iowa.