KENSINGTON, Md. — The $296 million Lafayette Federal Credit Union 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 to convert to a mutual bank and a failed attempt to gather signatures for a meeting to recall board members has been without a CEO on site since roughly mid-March. The credit union has never confirmed that its previous CEO, Michael Hearne, had left the job but Hearne had sent messages to other CEOs saying he had.
There have been rumors that John Farmakides, currently treasurer of the CU's board has been named to the post.
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