CEO of Alltru Credit Union in Missouri to retire

Carol Minges, chief executive of Alltru Credit Union in St. Louis, is retiring as head of the institution.

The $318 million-asset credit union announced that Minges, who was appointed as CEO in 2014, will retire April 1 as part of succession planning that began in early 2019. The current chief lending officer, Michelle Rosner, was appointed by Alltru’s board to succeed Minges.

“Through her years at the credit union, Carol led us through strategic evolution, a global pandemic, technology innovations, a rebrand and helped develop many accessible products and services for our community … the board is grateful to Carol for her devotion and wishes her nothing but the best as she retires and builds a new home in Indiana with her husband,” Gina Hakenewerth, chairwoman of Alltru, said in a press release Wednesday.

Minges commutes from Indiana, where her husband has held a leadership role at Financial Center First Credit Union in Indianapolis since the beginning of last year and was recently appointed as its CEO.

“When I began my career, we had over 12,000 credit unions" in the United States and "today we have just over 5,000 credit unions remaining,” Rosner said in the release. “At the center of everything we face, one thing remains; the people deserve a not-for-profit financial institution which cares about creating financial stability versus making stockholders wealthy.”

Alltru rebranded last year. It was formerly known as 1st Financial Federal Credit Union.