Indiana’s FORUM CU Promotes CFO To CEO

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INDIANAPOLIS – FORUM CU announced that Jeff Welch, its chief financial officer, has been named president and CEO of the $950 million credit union.

Welch is succeeding Bill Daily, who served 29 years with the credit union and retired Jan. 18.

Welch, who joined the credit union in 1998, has held the positions of controller, vice president of finance, senior vice president of finance and CFO. He has 25 years of experience in the credit union industry, having worked for two other credit unions prior to his employment with FORUM.

FORUM sunk into the red for 2010, with a loss of $2.8 million, $1 million of it due to the NCUA charges. It had net worth of almost 10% at year-end.

 

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