After months of unsuccessfully trying to find a new CEO, Presidents Federal Credit Union faced a choice of either merging or outsourcing its top spot.
The $11 million, 2,200-member credit union in Cleves, Ohio, opted for a management agreement that took effect March 1 with Emery Financial Services, a wholly owned CUSO of the $141 million, 13,400-member Emery Federal Credit Union in nearby Cincinnati.
Presidents FCU's four employees will remain in their current positions while other staffing, information technology and back office support will be provided by Emery Financial Services, the credit unions said.
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