KEY WEST, Fla.-NCUA said it is looking for a new manager for troubled Keys FCU after the departure of Bob Watson, who has headed the one-time $200 million credit union for more than a year.
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Watson, who became CEO after 2008, survived the September take-over of the troubled credit union by NCUA, which ousted the board. Keys FCU, now just $174 million, reported a $2 million loss for the third quarter and a $4.4 million loss for the first three quarters of the year. The credit union still faces a lawsuit brought by its former president, John Dolan-Heitlinger, who was fired in November 2007 after 16 years with the credit union.
