Worth Noting

Register now

Fahnestock Retires From VolCorp

NASHVILLE, Tenn.-Volunteer Corporate Credit Union announced the retirement of CEO A. Bruce Fahnestock after 15 years of service.

Albert P. Veach, currently Volcorp's CFO, has been tapped to serve as acting CEO after Fahnestock departs April 28. Volcorp's proposed merger with Western Corporate has been held up by state regulators, but the Volcorp board will not begin a search for a permanent replacement for Fahnestock until the merger's fate is definite.

EECU CEO Rogers To Retire

FORT WORTH, Texas-EECU CEO Robert Rogers will retire May 1 after nearly 30 years of service in the CU industry.

Rogers' got his start in credit unions as a Texas State Examiner in 1977, and served as deputy commissioner for the state in 1988. He has also held positions at Hughes Employees CU, Houston Area Teacher's CU and the University of Arkansas CU.

Lonnie Nicholson, currently serving as EECU's Chief Operating Officer, has been named Rogers' successor.

Diamond CU OK'd To Expand FOM

Pottstown, Penn.-Diamond CU has won approval from the Pennsylvania Department of Banking to serve those who live, work, worship, regularly conduct business or attend school in Berks County and the tri-county region.

Diamond's new community charter will also allow it to continue serving its 200 SEGs.

Moving forward, the $240-million CU said it plans to launch its "Fresh Start Loan," a complement to the CreditCare Service Diamond unveiled last year to help educate members about the value of building healthy credit and how to improve a credit score.

Visit The Credit Union Journal Website at www.cujournal.com

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER