Municipal CU taps outsider to replace ousted CEO

Municipal Credit Union in New York has appointed Mark Ricca as its president and CEO.

Mark A. Ricca is the new CEO at MCU

Norman Kohn has been serving as acting president and CEO since the credit union’s former chief, Kam Wong, was terminated after being arrested and charged with various financial crimes, including fraud and embezzlement, earlier this year.

Kohn will stay on as chief credit officer, the $2.9 billion-asset credit union said on Monday.

Ricca, who took over on Monday, most recently served as president and CEO of First American International Bank. Before that, he held a series of leadership roles at other banks, including chief financial officer and chief administrative officer at Carver Bancorp and general counsel at New York Community Bank and CFS Bank.

“My focus will be providing our members across New York City excellent customer service and competitive financial products that help our members have financial opportunity and security,” Ricca said in a statement.

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