Baylor Health Care System Credit Union in Dallas named Andy Reed as its president and CEO.
The appointment will be effective May 1, according to a press release on Wednesday from Credit Union Resources, which conducted the search for the new CEO. Reed joins Baylor Health Care from the $24 million-asset Texas People Federal Credit Union of Fort Worth, where he has served as president and CEO.
A spokesman for Credit Union Resources told Credit Union Journal by email that Karl Kouns is retiring as CEO of the $75 million-asset Baylor Health Care.
In Reed’s first year at Texas People, the credit union turned a profit by growing income by about 5 percent and cutting expenses by more than 11 percent, according to the press release. Before his tenure at Texas People, Reed served as the manager of business development at the $7.3 billion-asset American Airlines Federal Credit Union, also based in Fort Worth.
Baylor Health Care posted net income of about $865,000 in 2018, an almost 44 percent increase from the prior year.
Credit Union Resources is a unit of the trade group Cornerstone Credit Union League, which represents credit unions in Texas, Arkansas and Oklahoma.
