Dobbs succeeds retiring Steve Dunham at $126 million Phoenix institution.
Arizona credit unions reported the highest return on average assets in the country during first quarter 2012, according to the NCUA’s Quarterly U.S. Map Review. But despite 123 basis points worth of profit, things aren’t completely sunny in the Copper State.
The budget shortfalls harshly affecting a number of state governments over the past two years seem, for the most part, to have spared credit union regulation any sharp impairment.
Crippling budget cuts have left Arizona with just two credit union examiners to handle 22 state-chartered CUs.
Arizona may have a new regulatory team to deal with banks and credit unions but the state has also had to face down a daunting budget crisis, which CU executives claim is hindering the examination process.