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NEWPORT BEACH, Calif. – Victor Pantea, president/CEO, Member Gateways LLC, South Bend, Ind., a multiple-owned CUSO, was appointed by the NACUSO Board of Directors to fill the unexpired term of David Kennedy, president of The SELCO Group, a wholly-owned financial services CUSO of SELCO Credit Union, Springfield, Ore. According to a NACUSO spokesperson, SELCO CU is in the process of moving its financial services products currently being offered through the CUSO, under the CU’s roof as a result of the SEC’s pending announcement concerning the extension of CUSOs’ broker/dealer license extension. As a result of SELCO’s business decision, Kennedy is now an employees of SELCO CU. Since SELCO CU President/CEO Ava Milosevich is already a NACUSO director and the organization’s bylaws do not allow more than one director from a credit union or CUSO, Kennedy relinquished his board seat. Member Gateways is owned by 22 credit unions representing about 3 million members and more than $30 billion in assets. Pantea has been CEO of the CUSO since it was formed in January 1999.

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