KENSINGTON, Md. — The $296 million Lafayette Federal CreditUnion expects to announce its choice for a new CEO within a week,the credit union said.
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.
There have been rumors that John Farmakides, currently treasurerof the CU's board has been named to the post.
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