Family Savings Credit Union in Rainbow City, Ala., has named Danny Varnon as its next president and CEO.
Varnon, who currently serves as executive vice president, will succeed the retiring Monte Hill in January, according to a press release on Tuesday. During Hill’s 16-year tenure as president and CEO, the credit union’s asset size tripled.
“Monte has been a tremendous asset to Family Savings CU during his 29 years and we are thankful for everything he has done,” L. Pat Williamson, chairman of Family Savings CU, said in the press release.
The credit union also named Robert Rayburn as chief lending officer and Debbie Gray as chief financial officer. The three newly appointed executives have served more than three quarters of a century at Family Savings CU combined.
Chartered in 1951, Family Savings CU serves about 63,000 members in northeast Alabama and northwest Georgia and has $525 million in assets. The credit union earned about $1.6 million during the first quarter, up roughly 33% from the same period last year, despite the coronavirus headwinds, according to call report data from the National Credit Union Administration.
