Cooperative Savings and Loan Association

Cooperative Savings and Loan Association, Wilmington, N.C., has named Frederick Willetts 3d president and chief executive officer.

He succeeds his father, Frederick Willetts Jr., who will continue as chairman of the board and remain active in the company in a variety of areas.

Mr. Willetts 3d joined Cooperative in 1972, where he has held a variety of positions. Before assuming his new position, he had been executive vice president, chief operating officer, and a director.

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