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A Birmingham attorney, Douglas Key, has been named by the Alabama credit union regulator as the new president/CEO of the $195 million Mutual Savings Credit Union, which underwent conservatorship by the state last July. In a press release, T. Glenn Latham, Alabama credit union administrator, said Key, a partner and founding owner of Key, Greer, Frawley, Key & Harrison, headquartered in suburban Pelham, was picked for the job based on industry experience. He added that Key “will work to lead the credit union back to a healthy and growing state.” The state’s July 31 takeover of Mutual of Birmingham is being challenged in a lawsuit brought by its former CEO, Dale Dalbey, and members of the board ousted by Latham. A Shelby County Circuit judge is slated to hear the Dalbey challenge Oct. 26 in Columbiana. Key has a track record working with CUs in various roles for more than 35 years. He began his career in the finance industry and later earned his law degree from Birmingham School of Law. “It’s an honor for me to have the opportunity to contribute to the success of Mutual Savings Credit Union,” Key said in a statement. “I am excited about creating a dynamic workplace where the strategic vision of serving members is greatly expanded. I look forward to this new chapter in my career.”

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Peter Westerman

Credit Union Times

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