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WEST PALM BEACH, Fla. – As longtime credit union CEOs retire, credit union boards are finding themselves conducting CEO searches in a much different market than when they hired their last CEO. Credit unions have changed. They serve broader groups, offer more products, and are playing in an ultracompetitive financial services environment where banks are learning the value of being customer friendly. Credit unions are increasingly turning to former bankers to lead their shops. The latest being $2 billion OnPoint Community CU, formerly Portland Teachers CU. It named a former Bank of America executive as its new CEO. Credit unions have always boasted about how they are different from banks, so what is the net effect of bringing in former bankers to run credit unions? Will it hurt the CU philosophy? Is there no effect, as bankers will adopt the CU philosophy? This is the subject of Credit Union Times’ new online voting poll. The question is as follows: What kind of effect will there be on the credit union industry because of more bankers joining the credit union CEO ranks? * Positive * Negative * Not sure Please expand on your vote by e-mailing [email protected] with details.

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