TrueCore Federal Credit Union in Ohio names new CEO

TrueCore Federal Credit Union in Newark, Ohio, has promoted Jason Hall to be its next chief executive.

TrueCore announced that Hall officially stepped into the CEO role on Wednesday. The appointment comes almost two years after Hall became the $229 million-asset credit union's president. 

Hall takes over for Jay Young, who announced his retirement plans in 2021 and has transitioned into a part-time role as director of community relations for TrueCore, according to his LinkedIn profile.

In addition to his year tenure of over 15 years with the credit union, Hall is involved in several local organizations such as the Licking County Chamber of Commerce, the American Red Cross-East Central Ohio Chapter, the Newark Rotary, the Licking Memorial Hospital Developmental Council and the Licking County Foundation Finance Committee.

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The credit union recorded net income of $921,299 for 2022, more than double the $453,232 it reported for 2021. Net interest income grew more than 14% to roughly $6.1 million.

The National Credit Union Administration advanced a proposed rule on succession planning in January 2022 that would mandate federal credit unions develop and continually review processes for appointing next-in-lines.

The legislation was met with concern by industry professionals and trade groups such as the National Association of Federally-Insured Credit Union and the Credit Union National Association, which held that smaller credit unions would be disproportionately affected by formal regulatory requirements — instead suggesting that the NCUA offer institutions access to resources and tools to aid in the planning process.