CSE Federal Credit Union announces succession plan
Matt Koch has been named as the next CEO of CSE Federal Credit Union in Lake Charles, La., succeeding Clark Yelverton, who plans to retire later this year.
Koch, who will assume his new duties on Oct. 1, has been CSE’s chief financial officer for the last five years and has over a decade of experience in the financial services sector, including having served as director of accounting at Aneca FCU in Shreveport, La.
“We are very excited for Matt to continue his tenure at the credit union as president and CEO,” CSE Chairman Leo Blackmer said in a press release on Wednesday. “We greatly value Matt’s role in our success and have been impressed with what he has achieved during his time at CSE Federal Credit Union. After performing an extensive nationwide search, we are confident that he is the right individual to lead CSE Federal Credit Union.”
The executive search was facilitated by D. Hilton Associates, a Texas-based firm that regularly works on credit union succession issues.
Blackmer also thanked Yelverton for “28 years of inspirational leadership and service,” including more than two decades as CEO.
“I am honored to be able to continue my service to the CSE Federal Credit Union membership and community as president [and] CEO,” Koch said in the press release. “I look forward to this next chapter in my career and am grateful that the board has the confidence in me to take on this most important role.”
CSE Federal Credit Union serves over 32,000 members with more than $365 million assets. It has a community charter open to consumers in three different parishes. The credit union earned about $788,000 during the first half of 2020, down about 43% from the same period last year, driven in part by a 9% increase in staffing costs and a rise in its allowance for loan losses.