The former CEO of Palmetto Cooperative Services and Southeast Corporate FCU replaces Susan Newton.
Extension to June 29 in bid to raise $75 million ahead of merger with Corporate One.
Thursday was deadline for corporate members to contribute capital in advance of planned merger with Corporate One.
Final step is meeting capitalization goal of $75 million.
Consumers could close bank accounts at any time at no charge regardless of the size of their bank balance and could do it in person or by phone, according to legislation introduced by Rep. Brad Miller (D-N.C.).
Southeast Corporate told CU Times that it didn't reach its $80 million capitalization goal. The corporate will seek a merger partner.
CEO Brad Miller says $80 million goal not reached, thanks "the many members who supported our efforts."
Southeast Corporate Federal Credit Union announced Monday it has been given the NCUA's green light to offer its Perpetual Contributed Capital subscription plan.