When Mike Hambrick arrived at Envision Credit Union in April 2011 as senior vice president/CFO, the $260 million Tallahassee, Fla., institution was still struggling under the weight of the previous administration’s mismanagement. 

The subsequent steps taken by Hambrick and Darryl Worrell, the new president/CEO hired in 2010, put the credit union on a stable course while setting the stage to better manage interest rate risk in preparation for what will one day be a changing rate environment.

At the time, Envision was burdened with high overhead and had too many 30-year fixed-rate mortgages on its books. Long-term assets topped out at 43% of the overall portfolio with little to balance the risk on the short-term side.

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