WOLF POINT, Mont. — Wolf Point Federal Credit Union said Lester Warby has been named to succeed Michelle Johnson as its CEO.
Warby told Credit Union Journal Johnson retired to spend more time with her family. "That being said, we were very fortunate in that we had an opening on our board of directors and Michelle was gracious enough to accept the position," he said.
The $12 million dollar institution serves more than 2,500 members in Wolf Point and surrounding areas. Its field of membership includes natural person members of the Farmers Union Lumber Company and The Farmers Union Oil Company of Wolf Point.
In its most recent call report, Wolf Point FCU had $17,681 in net income for the first six months of 2014. Its net worth ratio as of June 30 was 16.24%.
In 2013 it earned $97,129 from operations. After paying $7,570 to the Temporary Corporate CU Stabilization Fund, it posted $89,559 in net income. Its net worth ratio at the end of 2013 was 18.12%.
According to a statement from the CU, Warby brings more than 15 years' experience in the financial services industry, 13 of which at credit unions of all sizes. Most recently, he served in a $250 million dollar conserved credit union, "providing strong leadership and working to stabilize expenses and improve capital," Wolf Point FCU said.
"We welcome Lester to the Wolf Point community, and look forward to his leadership as we grow the organization and improve member satisfaction."
