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President/CEO Pete Pritts announced some major changes at the $2.2 billion Corporate America Credit Union in a July 18 letter to members obtained by Credit Union Times. Since taking the helm of the Irondale, Ala.-based corporate in November 2012, Pritts has put together an almost entirely new senior and middle management team, revamped the balance sheet, and in October will implement a new fee structure. The changes will net the corporate more than $4.4 million in annual operating expense reductions.

“We were structured for a different economy and different regulatory environment,” Pritts said in an interview. “Today’s income opportunities are very different.”

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Peter Westerman


Credit Union Times

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