LA HABRA, Calif. American First CU yesterday said it named Jon Shigematsu, its chief financial officer, the new president and CEO of the $510-million credit union.
Processing Content
Shigematsu came to American First in 2011 after the credit union had suffered four straight years of big losses. Since then, the credit union has recovered and reported positive income for three straight years, most recently a $2.8 million net for 2012.
He succeeds Pamella Easley.
Shigematsu is the third CEO at American First in the past three years. Bob Street retired in 2010 after 20 years of service there and after the credit union had reported almost $40 million in losses from 2007 through 2010.
