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Steven Krauser was appointed interim president/CEO of the $1.9 billion Melrose Credit Union after the credit union got into some trouble due to a concentration in taxi medallion loans. The credit union is looking to diversify its loan portfolio, which is highly concentrated with troubled taxi medallion loans, leading to more than $180 million in net income losses over the last year.

Krauser (pictured) replaced 34-year CEO Alan Kaufman who left the Briarwood, N.Y.-based credit union two weeks ago.

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Peter Strozniak


Credit Union Times

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