The $267 millionInfinity Federal Credit Union in Westbrook, Maine, hasnamed Liz Hayes its new president/CEO, the cooperative saidTuesday.

She replaced Kenneth Williams, who served as president/CEO ofInfinity FCU from 1990 to Sept. 9, 2013, when he was firedafter an audit found he was not submitting expense receipts inaccordance with policy, according to a lawsuit the credit unionfiled against Williams last year. Sandra Cloutier, the creditunion's vice president of operations, had been named actingpresident.

As the former EVP and chief administrative officer of the $1.6billion AffinityPlus Federal Credit Union, Hayes played a critical role ingrowing the St. Paul, Minn.-based cooperative's assets andmembership, according to a statement from Infinity FCU.

“We believe she has the right mix of expertise and leadership tolead our credit union to new levels of success,” Richard Powell,Infinity's board chair, said. “Infinity has a solid history ofserving our members well, and Liz will build on that foundationwith new strategies to serve current members and compel new membersto join Infinity in the future.”

Hayes started her new job Oct. 6.

Established in 1921, Infinity FCU serves more than 14,297members.