Hearne No Longer With Lafayette

Mike Hearne, the controversial CEO of the $314 million Lafayette Federal Credit Union is no longer with the institution, according to sources familiar with the situation.

By David Morrison | August 03, 2007 at 12:22 PM

KENSINGTON, Md. — Mike Hearne, the controversial CEO of the $314 million Lafayette Federal Credit Union is no longer with the institution, according to sources familiar with the situation.

The sources said Hearne places responsibility for his removal on NCUA pressuring the credit union to remove him in the wake of the failed conversion attempt. NCUA has steadfastly not commented on the matter.

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