Michael Sauer has been named the new president/CEO of $1.8billion Texans Credit Union effective immediately after serving inan interim role since January.

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Sauer succeeds David Addison, who resigned on Jan.31 after sixyears of service. A member of Texans' board since 1992, Sauerserved as chairman from 2002 to 2006 and has held other boardpositions such as vice chairman, treasurer and secretary. Inaddition to his career at Texans, Sauer served as the executivevice president and chief operating officer for a commercialproducts company and earlier as a vice president for a globalmanufacturing company.

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Texans said it considered "several other, very well qualifiedindividuals" before determining that Sauer was the bestcandidate.

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"With his long and distinguished service to Texans Credit Union,and extensive business experience, Mike Sauer is eminentlyqualified to lead the organization going forward," said JudithMoore, chairman of the Texans' board of directors.

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Sauer said he is up to the challenge of heading Texans, which istrying to emerge from a $46 million loss in 2008.

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"We have a seasoned management team and staff in place toimprove and grow Texans in a direction that will meet theexpectations of our members and the communities we serve," Sauersaid. "I'm looking forward to meeting today's challenges and futureopportunities."

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