Donna Young has been appointed president of Cornerstone Financial Credit Union in Nashville, Tenn.
She succeeds Joe Spivey, who retired from the credit union earlier this year, having led the $468 million-asset institution since 2016.
Cornerstone Financial said Young has spent 42 years in the credit union movement, starting as a teller at ORNL Federal Credit Union. She has held a variety of roles at Cornerstone Financial since joining it in 1989, including training manager, assistant vice president of marketing and vice president of human resources. Before being promoted to president she was executive vice president.
Young is a Tennessee native and holds a degree in finance from the University of Tennessee Knoxville.
Cornerstone Financial serves more than 42,000 members and has six branches in and around Nashville.
Along with Young’s appointment as president, several other staffers were also promoted to new roles. Among them was Laura Williamson, formerly the credit union’s chief operating officer, who was promoted to executive vice president, the role Young held before her promotion. Other employees were promoted to C-level positions, including oversight of lending, information technology and more.
Call report data from the National Credit Union Administration shows Cornerstone Financial earned nearly $2.8 million last year, down from $3.1 million in 2019. Charge-offs and recoveries both improved in 2020, but interest and noninterest income both declined as noninterest expenses and allowances for credit losses rose.
This story was updated at 11:02 A.M. on Jan. 29, 2021.
