HARBOR, Ore. – NCUA said it has hired Gary Jester, a work-out specialist who headed troubled Rapid City Telco FCU from August 2010 to June 2011, to run troubled Chetco FCU as conservator.
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Jester also was CEO of Advancial FCU in Dallas from 1982 to 2006, building its assets from $25 million to more than $650 million during that time. Jester replaces Diane Johnson, who was CEO at Chetco since June.
NCUA Friday night took over Chetco, which lost $16 million last year and saw its net worth decline to 5% and assets to $33 million at mid-year.
Chetco serves Oregon’s Coos and Curry counties, and Del Norte County in Northern California.
