Lampco Federal Credit Union in Anderson, Indiana, has named Migual Patterson its chief executive.
Patterson, formerly a vice president at the $481 million-asset Community First Bank of Indiana in Kokomo, succeeds Chief Financial Officer Jennifer Cobb. Cobb had been interim CEO of the $69 million-asset Lampco since Willie Hendricks left in September 2019.
Patterson said he could not comment on Hendricks’s departure. Cobb has now resumed her role as CFO.
Patterson said in an interview that his priorities for this year are to increase the credit union's engagement with members and the community.
Patterson has more than 20 years of experience in the financial industry. Before his stint at Community First Bank he was finance/credit and cash manager at Teays River Investments, an agriculture private equity firm.
Lampco reported a loss of nearly $64,000 in the first quarter, after reporting a loss of nearly $111,000 in a year earlier, according to call report data from the National Credit Union Administration.
