WALNUT CREEK, Calif. – Pacific Services CU yesterday announced Steve Punch, its former chief of operations, will return to the $1 billion credit union to become its CEO. Punch will succeed Tom Smigielski, who is retiring after 17 years. Punch worked for Pacific Service from 1991 to 1995, when he left to run First City CU in Los Angeles. Prior to 1991 he worked as an executive at Alaska USA FCU for 13 years.
The $736 million Orange County bank had faced a smattering of enforcement actions over the years, including for concentration risks, governance issues and questionable insider transactions.
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