Michael B. Magnavita, Franklin Mint Federal Credit Union executive vice president and chief financial officer, has been named president/CEO of the CU's CUSO State Financial Network Inc. SFN provides mortgage lending products and services to 17 credit unions and their over 200,000 members across the country. “Mike's appointment to president/ CEO is well deserved. He's been involved with SFN since 1987, and has been an integral part of the company's success. On behalf of the SFN board of directors, I would like to congratulate Mike on his appointment and thank him for his years of service,” said Jack Sullivan, former SFN Board chairman and current treasurer/secretary.

Former SFN President/CEO John D. Unangst will serve as SFN board chairman.

Magnavita, who began his career with SFN and Franklin Mint FCU in 1987, is a member of the Pennsylvania Institute of Certified Public Accountants and the American Institute of Certified Public Accountants.

Formed in 1986 as a wholly owned subsidiary of Franklin Mint FCU, SFN has a mortgage loan servicing portfolio in excess of $500 million.