ELGIN, Ill. Kane County Teachers CU announced this morning it hired Mike Lee, a senior executive at Alloya Corporate FCU, as president and CEO of the ailing privately insured $182 million credit union.
Lee, vice president of member relations at Alloya Corporate, is succeeding Craig Bradley, who served as Kane County Teachers CU CEO for 35 years.
The credit union, which is privately insured by ASI Inc., reported a $178,000 loss for the first six months of 2013, after a $297,000 loss for 2012, but has strong net worth of more than 11%. It serves DeKalb, DuPage, Grundy, Kane, Kendall, McHenry, and Cook County west of Rt. 83, with three branches in Illinois.
Lee has been head of member relations at Alloya Corporate the past two years and worked at its forerunner, Members United Corporate FCU, for seven years before that. He serves on the boards of the Illinois CU Foundation, and Ministry Partners and is chairman of Ministry Partners Securities.
