AERO Federal Credit Union in Glendale, Ariz., has appointed Michael Moyes as its new president and CEO.
Moyes succeeds retiring CEO Preston Sanders, who has led the credit union since 2010.
Moyes was most recently CEO of Coloramo FCU in Grand Junction, Colo., where he served from 2016 to 2020. Prior to that he was chief financial officer at Arizona-based Pinal County FCU. He also spent time at the Michigan Credit Union League and Salt Lake Credit Union.
“We are confident that with his extensive experience within the credit union industry, Michael will be a great addition to our team and will be a vital component to the credit union’s future successes,” Dick Clauer, chairman of the AERO FCU board, said in a press release.
Aero FCU was chartered in 1957 to serve the aerospace industry. Originally known a Sperry Phoenix Employees FCU, the credit union underwent a series of mergers and acquisitions of its core sponsor, rebranding in late 1999 as Honeywell Aerospace FCU before becoming AERO FCU in 2009.
The credit union serves about 19,000 members with $250 million in assets. It posted a loss of more than $226,000 during the first quarter, compared with net income of about $158,000 during the same period last year. Many credit unions saw their first-quarter revenues drop as a result of the coronavirus.
