He Doesn't Work Here Anymore

It is embarrassing to call a company and ask for a person by name only to be told that that individual no longer works there. Not only is it personally embarrassing, but professionally it gives a poor impression and could potentially damage a client relationship.

 
 

It's embarrassing to call a company and ask for a person by name only to be told that that individual no longer works there. Not only is it personally embarrassing, but professionally it gives a poor impression and could potentially damage a client relationship.

Last Thursday, Bob Bream announced his resignation from the position of president/CEO at United Airlines Employees Credit Union. United Airlines Employees (IL), at $3.9 billion in assets, is the sixth largest credit union in the nation. Bream's resignation is just one of many personnel changes that have occurred within the credit union industry recently. Lisa Whitaker took over the top spot at Comstar FCU (MD, $134.1M) and Stan Hollen who left The Golden 1 Credit Union (CA, $4.1B) over a month ago was just replaced by Teresa Halleck, formerly of State Employees of MD (MD, $1.08B) In fact, during 2nd Quarter 2002, more than 600 credit unions reported changes in CEOs. More than 170 reported CFO changes.

Keeping track of this many changes is difficult enough, but given the fact that credit unions only report to NCUA four times a year, the lag time between a personnel change and the time the information is publicly available can create embarrassing situations for vendors trying to get in touch with specific individuals. Try looking up and calling the CEO of Provident Credit Union (CA, $1.1B). Your response will be ''Ludelle Morrow doesn't work here anymore.'' Morrow, who retired from Provident back in July, was replaced by Wayne Bunker, who most recently held the position of President and CEO with CommonWealth Central Credit Union (CA, $309.4M). The change will not be officially reported to NCUA, which still has Morrow listed as CEO/Manager in their online directory, until the end of the quarter.


Callahan & Associates, Inc. took note of Morrow's and Bream's announcements (along with all of the others) as soon as they were made, and immediately made the information available through its E-CONNECT software, which is updated daily as part of our ongoing contact/involvement with the industry. To find out more about how to keep up-to-date with personnel and other changes within the credit union industry, check out Callahan's E-CONNECT software by clicking here.

 

 

 

Sept. 9, 2002


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