DENVER — In a follow-up to its plan to take over the failed $230 million Norlarco Credit Union of Fort Collins, Public Service Credit Union of Denver said last week it has selected high-profile industry figure Bob Hoel, formerly of the Filene Research Institute, to serve on the PSCU board and revamp operations.
The appointment of the retired executive director of the Madison-based think tank is subject to final approval from NCUA on the PSCU acquisition, a formality expected to take place at the end of February.
Hoel, currently a Filene Fellow in Residence, has long-standing ties to the old Norlarco CU that were in place well before the CU got into big financial trouble on out-of-state loans to Florida home developers last year and ended up under NCUA conservatorship and sale.
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