The $2.2 billion Alloya Corporate Federal Credit Union announced Tuesday that its board has named Todd Adams the corporate's new CEO.

Adams, who was previously senior vice president and president of subsidiary Balance Sheet Solutions, had been interim CEO since September following Bill Walby's resignation.

Adams will take over the permanent role effective immediately, Alloya said in a release. The move will mark the third CEO for Alloya in the past year; Walby was named CEO earlier this year after Alloya merged his Detroit-based Central Corporate Credit Union.

Charles Furbee, who the NCUA convinced in 2010 to come out of retirement to run Members United Corporate FCU following its conservatorship, was CEO before Walby. Furbee had been a senior vice president at the Federal Reserve Bank of Chicago and led the corporate through its recovery and recapitalization process.

“After a national search, we are delighted to have found Alloya's new CEO from within the corporate,” said Chair Amy Sink, who is CEO of the $670 million Interra Credit Union of Goshen, Ind.

“While we interviewed many talented individuals, we felt that Todd's skills and experience were the right fit for Alloya,” Sink said. “This appointment brings continuity to the corporate and best ensures that we will continue to build on the positive momentum of the past two years.”

Adams is a CPA and a member of the American Institute of Certified Public Accountants and received a bachelor's degree in business administration/accounting from the University of Iowa.

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