>Brookings Oregon News, Sports, & Weather | The Curry Coastal Pilot

News Classifieds Web
web powered by Web Search Powered by Google

News arrow News arrow Business arrow CFCU hires Johnson as new CEO

CFCU hires Johnson as new CEO Print E-mail
Written by The Curry Coastal Pilot   
June 01, 2011 04:00 am

Chetco Federal Credit Union (CFCU) recently announced it has hired Diane Johnson, a nationally recognized credit union consultant, as its new president and CEO.

The announcement was made by Board Chairman Jim Nelson. “Diane is one of the best known experts in this industry and we are very fortunate that she is available and likes the coast. Many of our staff have already worked with Diane, or her husband Tom Glatt, over the past few years when they have worked with CFCU as consultants. There’s no other way to put it, the board is thrilled!”


CFCU recently announced the retirement of Stan Baron and his return to his native New Jersey. “More than a decade ago we faced some challenges and we found the right person then, Stan Baron. Since that time we have more than doubled in size, added Coos County to our membership base, added two new branches including the impressive new Crescent City facility, and for most of that time we maintained an ROA far in excess of our peers,” continued Nelson. “But over the last three years the entire financial industry has seen tremendous change. Now we find ourselves facing a new set of challenges, and, once again, we’ve found the right person to lead us.”

“The current economic environment is unlike anything economists have ever seen,” Ms. Johnson told the board. “Coupled with increased regulatory scrutiny and market uncertainty, credit union leadership faces challenges at every turn.”

According to Nelson, “Diane has more than 30 years of financial and entrepreneurial experience. She joins an experienced team of service professionals to continue the distinguished heritage of CFCU. Having someone with Diane’s background, contacts and skill set will be just what Chetco needs to be able to continue providing world class service to its members.”

Johnson, originally from California, has been in the financial services industry since she was hired as a teller in 1965. In 1977 she was founding partner of her own consulting firm which served hundreds of clients throughout the financial community. Diane sold her firm in 2001 and has been a resource to her credit union clients, including CFCU, since that time. Most recently she was CEO of CUMAnet, LLC. CUMAnet, LLC provided mortgage services to more than 50 financial institutions nationwide.

Between them, Diane and her husband have four grown children. Diane and Tom are newcomers to southern Oregon, but have spent many years on the Pacific Coast. Nelson concluded, “We hope our members will join us in welcoming Diane and Tom to CFCU family.”

 

Business News by Yahoo Finance

  • China shares lead Asia higher, dollar buoyed
    Asian stocks shrugged off a drop in Wall Street and hovered near three-year highs on Monday, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world's second-largest economy. The two-day Federal Reserve policy review ending on Wednesday was also in focus but expectations were for Chair Janet Yellen to deliver the usual dovish message.
  • JP Morgan questioned on private bank impropriety: WSJ
    As a result of the questioning regarding potential conflicts of interest, the New York-based bank has sharpened its disclosures to clients, the newspaper said, citing sources. The Office of the Comptroller of the Currency, one of JP Morgan's regulators, has been in discussions with the bank regarding the potential conflicts of interest in recent months, according to the report. "Being transparent is part of our normal course of business and it's what drives our client communications," Darin Oduyoye, a spokesman for JP Morgan's asset-management unit, told Reuters on Sunday. If brokers push clients to buy the in-house brand of financial product, rather than provide impartial financial advice, the bank could stand to benefit at the expense of the client.
  • Obama could curb corporate 'inversions' on his own: ex-U.S. official
    President Barack Obama could act without congressional approval to limit a key incentive for U.S. corporations to move their tax domiciles abroad in so-called "inversion" deals, a former senior U.S. Treasury Department official said on Monday. By invoking a 1969 tax law, Obama could bypass congressional gridlock and restrict foreign tax-domiciled U.S companies from using inter-company loans and interest deductions to cut their U.S. tax bills, said Stephen Shay, former deputy assistant Treasury secretary for international tax affairs in the Obama administration.

Follow Curry Coastal Pilot headlines on Follow Curry Coastal Pilot headlines on Twitter

© Copyright 2001 - 2014 Western Communications, Inc. All rights reserved. By Using this site you agree to our Terms of Use