The $174 million WestStar Credit Union has a new CEO.
The Las Vegas based institution's board voted to replace long-time President/CEO Dan Paulson, and replaced him with former NCUA supervisor Andy Baumann as of this past Monday. Paulson also served as Chairman of the Nevada Credit Union League in 2008.
Baumann said he's not sure if the board fired Paulson or if he resigned, but did say his own role is only temporary, and that volunteers are searching for a permanent replacement.
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"This isn't a case of a CAMEL 4 credit union," Baumann said of WestStar, which he said reported 8.5% net worth as of August 31.
"Loan losses are up from previous years, but capital is still strong," he said
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