NASHVILLE, Tenn. -- Michael Martin is the new president/CEO of The Tennessee Credit Union.

Martin succeeds Betty Hobbs, who retired in December 2006 after 40 years at the helm. Martin, who had been serving as interim president/CEO, has been with the $205 million CU for 24 years in a number of executive positions.

Martin was involved with opening 12 of 13 TTCU locations, supervised a conversion to an in-house data processing system, implemented risk-based loan pricing, and introduced a home equity line-of-credit product. In addition, Martin implemented and maintained the TTCU's program of asset liability management to ensure compliance with budgeted goals and applicable regulations.

According to the CU, the board of directors interviewed two internal candidates in addition to external applicants before choosing Martin.

TTCU serves nearly 27,000 members.