Richard Simonton, who has served as president/CEO of AOD Federal Credit Union for nine months, said he is not sure why the cooperative’s board of directors denied his request for a commitment for future employment.

Simonton was hired in December 2012 to lead the $262 million credit union in Bynum, Ala. He had been working as a conservatorship CEO for the NCUA. He said it now appears he will be leaving AOD FCU at the end of October.

“The crux of this is I came here without a contract with the intent of staying but I needed assurance that I had a job in order to move my family,” Simonton told Credit Union Times on Tuesday.

“After nine months, I thought I was doing pretty well so I asked the board to provide me with a commitment for future employment and they wouldn’t provide it.”

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