New CEOs Named At Corporates

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ALEXANDRIA, Va.-More than 2,800 people logged into NCUA's Virtual Town Hall Meeting. Among the points made during the Q&A session after the hour-long presentation:

Diane Addington, formerly Genisys CU CEO, is heading up Southwest Corporate in Dallas, Charles Furbee is heading up Members United in Illinois, and Bill White has taken the reins at Constitution Corporate in Connecticut. White was formerly the COO at the corporate. Furbee previously worked at the Federal Home Loan Bank of Chicago.

Members of the conserved corporates will not be required to place additional capital in the bridge entities that will be established under the good bank/bad bank model.

The boards, supervisory committees and CEOs of all of the conserved corporates have been removed. NCUA is investigating whether it will take any legal action against the boards and CEOs of the newly conserved corporates.

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