NCUA Shifts Management At Arrowhead CU
SAN BERNARDINO, Calif. – NCUA said Steve Becker, chief operating officer at Arrowhead CU, will move up to CEO of the troubled credit union next month upon the departure of Kay Woods, who has been serving as head of the one-time $1 billion credit union since it was taken under conservatorship by NCUA last year.
Becker, former CEO of Arizona’s Credit Union West, was brought in by NCUA last June as part of a work-out team.
Arrowhead, which is in the process of shuttering eight branches, trimmed its losses from $47 million in 2009 to $4.5 million in 2010, while net worth hovered at just 3.3%.
Woods has more than 20 years executive experience at credit unions, including stints at WestStar CU in Las Vegas, Westmark CU in Idaho, Memphis Area Teachers CU and Georgia Heritage FCU.