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News Now

CU System
Alabama-based CU placed in conservatorship
BIRMINGHAM, Ala. (8/7/09)--The senior staff of Mutual Savings CU, Birmingham, Ala., is working with the Alabama Credit Union Administration(ACUA) to get the credit union out of conservatorship, Sonja Purvis, senior vice president of marketing and development, told News Now. The state-chartered credit union was placed into conservatorship by ACUA July 31. Its board, supervisory committee, and CEO have been relieved of their duties at the credit union. Members of the senior staff remain, Purvis said. Tom Tatum has been named acting CEO of the $191 million asset credit union. Tatum has more than 40 years of experience in the credit union industry and is the former CEO of Jefferson County Teachers FCU.


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