KENSINGTON, Md. — The $296 million Lafayette Federal CreditUnion expects to announce its choice for a new CEO within a week,the credit union said.

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The CU, which has been struggling since its failed attempt toconvert to a mutual bank and a failed attempt to gather signaturesfor a meeting to recall board members has been without a CEO onsite since roughly mid-March. The credit union has never confirmedthat its previous CEO, Michael Hearne, had left the job but Hearnehad sent messages to other CEOs saying he had.

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There have been rumors that John Farmakides, currently treasurerof the CU's board has been named to the post.

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