FORT WORTH, Texas -- In a move it describes as adding "strengthand experience to its leadership team," American Airlines FederalCredit Union said on May 30 it has named Angela K. Owens its newpresident.

AA Credit Union's current President/CEO John Tippets, willretain the title of CEO, the CU said, adding, upon Owens joiningthe credit union later this summer, "they will work closelytogether to ensure a smooth and successful transition of leadershipupon Tippets' future retirement."

Owens returns to AA Credit Union from American Airlines, whereshe currently is the airline's general auditor. While at the $4.3billion CU, Owens served as senior vice president, communityrelations and financial services. In this role, Owens led thecredit union's financial services group, which employs licensedrepresentatives to provide financial planning and advising servicesto members. She was also responsible for the credit union'sbusiness development, credit counseling, and member specialassistance efforts.

"We are excited to welcome Angie back to the credit union andthe tremendous experience she brings to our members," said DouglasHerring, AA Credit Union chairman. "Angie's valuable background inboth the airline and credit union industries will help lead thecredit union to new levels of growth and service in thefuture."

Tippets has been at the helm for more than 16 years. He said hewill retire sometime in mid-2008. He said bringing Owens aboard isthe next step in a long-term succession planning phase.

"She is a very enthusiastic and passionate person about whatcredit unions do. She has great personal competencies and skillsand when you combine that, you get a great person [for the creditunion]," Tippets said.

Tippets said it is too early to say whether Owens will becomeboth president and CEO upon his retirement.

Founded in 1936, AA Credit Union is one of the 10 largest in thecountry with more than 209,000 members.
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