A small Colorado-based credit union is on the hunt for new leadership.
Emily Ter Maat, president and CEO of Southwest Colorado Federal Credit Union, based in Durago, Colo., has announced her intention to retire in December. The $55 million-asset institution has selected Credit Union Resources Inc. to conduct a search for a new chief executive.
Ter Maat has led the credit union for the last 36 years, growing it from $900,000 in assets to $55 million today.
Marcus Cotton, vice president of executive recruiting at Credit Union Resources, will lead the search. Credit Union Resources is a unit of the Cornerstone Credit Union League.
The credit union, which serves more than 3,600 members, posted net income of about $559,000 in 2018, a 23 percent increase from the prior year.
