To help increase its membership base throughout the northeastern region of the country, Wings Financial Credit Union has created a new position: manager of business development.
The $2.2 billion credit union said it has hired Anthony Alesci for the new job. Alesci will also be responsible for increasing Wings Financial's membership within the aviation community centered around New York's JFK International Airport.
Prior to joining Wings Financial, Alesci was district sales manager for Northwest Airlines where he managed the company's largest sales district in the eastern region of the United States, according to the credit union. He also served as the Americas director of market development, marketing and sales for All Nippon Airways and held a variety of positions at America West Airlines. Alesci started at Wings Financial at the end of August.
Members of Apple Valley, Minn.-based Wings Financial recently voted to approve converting to a state credit union charter.
Red Rocks CU Appoints
Dalke as New CFO
Red Rocks Credit Union has appointed Russ Dalke as its new chief financial officer.
"The addition of Russ to the Red Rocks team is very exciting for all of us," said Patrick Ahern, President/CEO. "With more than 22 years of analytical experience, we are confident he will deliver a fiscal strategic vision for our organization that will positively benefit the credit union."
Prior to joining Red Rocks, Dalke served as vice president/CFO at Kansas City, Mo.-based Mazuma Credit Union. At Mazuma CU Dalke was responsible for overseeing the accounting system and financial reports, as well as ensuring compliance and regulatory requirements. Prior to Mazuma CU, he served on the board of directors of Pacific Oaks Federal Credit Union in Camarillo, Calif. He also was the operations/production manager at Weldlogic Inc. and worked for SRS Technologies Inc., both located in Ventura County, Calif.
Dalke graduated with an accounting certificate from the University of California at Santa Barbara Extension, he received a bachelor's degree in business administration from the University of LaVerne and an MBA from Webster University.
Lowe Named CEO at
Kennedy Space Center
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Kennedy Space Center Federal Credit Union has found its new president/CEO in former Executive Vice President Maureen Lowe.
Lowe replaces Janice Hollar who stepped down as president/CEO in June 2009.
Lowe has been with the credit union for some 28 years and has experience in nearly every department since her early days as a teller in 1981. She has a bachelor of science degree in accounting from Florida Southern University and is a NAFCU certified compliance officer.
"I've had the great opportunity to have built my career with one of the strongest credit unions in the state. We have an exceptionally experienced and dedicated staff. I am excited to be working with a progressive board of directors and supervisory committee that is committed to providing quality service to our members," said Lowe.
Kennedy Space Center FCU is a full service community credit union with 12 branch locations throughout Brevard and Volusia counties
Indiana CUs See Deposit
Uptick After Failure
The first bank failure in Indiana in 2009 created a windfall last week in deposits and consumer inquiries for central Indiana credit unions following the FDIC takeover and asset sale of the $2.7 billion Irwin Union Bank of Columbus.
Nan Morrow, vice president of corporate development at the $850 million Centra CU of Columbus, called the Irwin Union collapse unfortunate, considering the bank has long been a financial pillar in the community though its serious mortgage troubles had been in the news for quite a while.
On Sept. 18 the FDIC, citing previous cease and desist orders and calls to increase capital, seized Irwin Union along with its Louisville, Ky., affiliate and sold the assets to First Financial Bank of Hamilton, Ohio. It was the nation's 94th bank failure of the year.
Irwin Union's troubles began receiving media coverage in Indianapolis and central Indiana outlets last summer. In recent weeks Centra "increased our safety and soundness in radio and print ads, stressing that we have money to lend and member eligibility," said Morrow.
"I certainly would not call our advertising efforts huge, but we do want to tell consumers that we're here to lend," said Morrow.
Irwin Union, with 27 Indiana and Kentucky branches, had, according to news reports, tried for months to refocus its business from mortgage and home-equity lending and equipment leasing to community banking.
Previously, according to CUNA, Irwin Union had links to credit unions through a holding company subsidiary, Irwin Mortgage Corp, selling mortgage loans to 50 CUs. In 2005, Irwin Union sold its CU lending business to American Home Mortgage, a subsidiary of American Home Mortgage Investment Corp.
Irwin also sold 17 branches and its Carson, Calif.. loan operation to Pinnacle Financial Corp., said CUNA. Two years ago American Home Mortgage Investment filed for bankruptcy.
'Ask Adam' Targets
Small Businesses
Coventry Credit Union is ready for more hand holding for budding entrepreneurs.
Adam Quinlan, vice president of commercial services at the Coventry, R.I.-based cooperative, is the resident expert in the "Ask Adam" campaign. The $270 million credit union has launched a series of free sessions for established small businesses and hopefuls seeking advice on such topics as navigating through finances, qualifying for SBA or other loans and general business and financial advice.
The first of three sessions was scheduled to kick off Sept. 25 at Coventry's North Kingstown branch. Additional meetings are planned at the credit union's other branches.
Coventry launched its business services division in late 2008. Prior to joining the new department, Quinlan owned and operated a local firm that specialized in financing deals across Rhode Island, Massachusetts and Connecticut ranging from multiunit apartment buildings to a $150 million specialty-use facility.
Pen Air Signs
Brokerage Deal
Pen Air Federal Credit Union has partnered with PRIMEVEST Financial Services in a three-year brokerage services deal.
The $937 million Pen Air FCU in Pensacola, Fla. will privately label PRIMEVEST's investment program under the Pen Air Investments and Insurance moniker. The program will be staffed by financial professionals Scott Mann, Rodney Randle and Steve O'Reilly who will serve in a dual role as financial professional and program manager. PRIMEVEST is a self-clearing broker-dealer serving the clients of nearly 600 financial institutions in 50 states and Guam.
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