Mike Walrod will be the new CEO of Mazuma Credit Union subsidiary CU Holding, which has multiple credit union service organizations under its umbrella.
Walrod was scheduled to start on Monday, according to a press release on Friday. CU Holding currently has insurance and payday lending alternative CUSOs and a partnership in a mortgage CUSO. It is a subsidiary of the $661 million-asset Mazuma Credit Union in Overland Park, Kan.
Walrod has 25 years of experience in driving increases in market share, profitability and brand awareness for various companies. Most recently, he founded Incite Business, a consulting firm that assists business owners with developing strategic goals. Prior to that, Walrod served as vice president of operations at QCHI, which provides alternative credit to consumers and small businesses.
“I’m looking forward to continuing to develop the great foundation that’s in place,” Walrod said in the press release. “We’ve got a strong team in place at CU Holding, and I want to support them and the initiatives that they’re excited about. Together we’ll be able to create some diversified opportunities that will allow us to support Mazuma and other credit unions.”
Mazuma CU earned $6.5 million for the year to date, up nearly 64 percent from the same period in 2017, according to its call report.
