PLANO, Texas – Catalyst Corporate FCU, the new corporate credit union formed by the combination of Southwest Corporate FCU and Georgia Corporate FCU, said this afternoon it hired Kathy Garner, the former president of Northwest Corporate FCU, as president and CEO.
Catalyst, which serves almost 900 credit unions and has about $4 billion in assets, has emerged as one of the four big surviving national corporates, along with Alloya Corporate, Corporate One and MidAtlantic Corporate.
Garner will succeed Dianne Addington, who has served as the Catalyst Corporate CEO while it was created from the combination of Georgia Corporate and Southwest Corporate. Addington was hired by the NCUA to run Southwest when it was conserved in Sept. 2010, after the failure of the one-time $12 billion corproate. Addington had long indicated her intent to return to retirement once Catalyst Corporate was on its feet and a new CEO was selected.
Garner worked for U.S. Central FCU from 1984 to 1995, primarily as a manager in the asset/liability department, then headed Northwest Corporate FCU until 2007, when it was merged into Southwest. Prior to that, she was the assistant manager of Corporate Central CU of Utah for more than a year. Most recently, Garner served as executive vice president of member relations and business development for Catalyst Corporate.
Garner will take over as CEO on March 5.
