An employee at Texans CUSO Insurance Group LLC told Credit Union Times today that Mike Haselden, the CUSO's CEO, will be leaving the company.
Credit Union Times contacted the CUSO and asked to speak to Haselden. An employee who answered the phone referred the reporter to Jeff Ellis. The employee said Haselden "will be leaving the company." According to a tip, Haselden resigned this morning. Another manager with the insurance group resigned Oct. 26.
A comment was not immediately available from the credit union's public relations managers or Mike Sauer, president/CEO of $1.7 billion Texans Credit Union, the CUSO's owner.
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Texans CUSO Insurance filed for Chapter 11 bankruptcy protection in September to resolve its operational and liquidity issues, the CUSO said at the time. On Sept. 10, a bankruptcy court judge granted the CUSO approval to pay pre-petition commissions owed to its independent agents, approval to remit all insurance premiums to insurance carriers, approval to honor pre-petition wages and benefits of its employee and interim approval to utilize cash collateral.
Earlier this week, Texans CU spokeswoman Jo Trizila told Credit Union Times that the insurance group also received all that it asked for at a final cash collateral hearing on Oct. 8. She did not provide details on what was requested during that hearing.
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