Who’s In Charge Of The 3 Closed Corporate Credit Unions?

On Monday we noted that three corporate credit unions - Southwest Corporate Federal Credit Union, Members United Corporate Federal Credit Union and Constitution Corporate Federal Credit Union - had been closed and placed into conservatorship by the National Credit Union Administration at the end of last week. We now know who the NCUA has put in place to oversee these credit unions’ remaining operations. 

Dianne Addington is managing the operations of Southwest Corporate Federal Credit Union, in Plano, Tex. She recently retired after serving 22 years as president/CEO of Genisys Credit Union and has a total 37 years of credit union experience. Addington served on multiple boards and committees within and beyond the credit union community. Her experience includes serving on the Board of Regents for the Auburn Hills Campus of Baker College, National Board of Directors for Credit Union Shared Branching, National Board of Directors for Co-op Network, the Community Impact Committee for United Way of Southeastern Michigan and the Oakland County Committee for United Way. Addington is a business graduate of Cleary College and holds an MBA from Central Michigan University.
 
Charles W. Furbee, current CEO at Members United Corporate Federal Credit Union, in Warrenville, Ill., had been retired after serving 27 years with the Federal Reserve, most recently as senior vice president at the Federal Reserve Bank of Chicago (Seventh District). Furbee previously held positions with Chicago Title and Trust Company, Pittsburgh National Corporation, LaSalle Bank, and Bank of America, and he founded and managed a payment systems consulting practice.
 
Furbee also retired as a colonel in the United States Marine Corps Reserve. He taught at the Command and Staff College for the United States Marine Corps and also taught at the university level. Furbee has a past or current board affiliation with the Opportunity Centers of Chicago, Northbrook Jaycees, Chicagoland American Institute of Banking, Bank Administration Institute, and West Virginia Wesleyan College.
 
Furbee holds an economics degree from West Virginia Wesleyan College and a master’s degree in industrial relations from Loyola University of Chicago. He is a graduate of Harvard University’s Advanced Management Program.
 
The NCUA is currently pursuing a purchase and assumption or merger partner for Constitution Corporate Federal Credit Union, in Wallingford, Conn. In the interim, former Constitution Corporate Executive Vice President William White is serving as the CEO.