SAN DIMAS, Calif. (4/20/11)--The Western Bridge Corporate Charter Committee Monday elected a seven-member board of directors and three supervisory committee members to govern the new corporate entity while it pursues approval of a new charter from the National Credit Union Administration's (NCUA). The corporate plans to submit its new charter application within two weeks. In addition to board director criteria mandated in NCUA's new Corporate Regulation 704, the committee established asset-size criteria that reflect the corporate's broader membership. Two directors must be from credit unions with assets greater than $1 billion, two from credit unions with $100 million-$1 billion assets, and two with assets less than $100 million. There also will be one “at large” director. At least one director must be from a credit union outside of California. The board and supervisory committee will meet within the next two days to elect their respective leadership. Members of both groups will be listed as official sponsors on the new corporate’s charter application, which is on track to be submitted to NCUA within the next two weeks, said Western Bridge Corporate. Elected to the board of directors are:
* Bill Before, chief financial officer (CFO), Spokane (Wash.)Teachers CU, $1.46 billion assets; * Matt Davidson, CFO, Kern Schools FCU, Bakersfield, Calif., $1.35 billion; * Jim Aley, CFO, Honda FCU, Torrance, Calif., $540 million; * Shane Berger, CEO, Beehive FCU, Rexburg, Idaho, $160 million; * Paul Lewis, CEO, San Diego Medical FCU, $71 million; * Elizabeth Lipke, CEO, Bourns Employees FCU, Riverside, Calif., $43 million; and * Charles Papenfus, CEO, Inland Valley FCU, Fontana, Calif., $38 million.
Supervisory Committee members are:
* Francisco Nebot, CFO, SchoolsFirst FCU, Santa Ana, Calif., $8.5 billion; * Mike Harden, chief operations officer (COO), F & A CU, Monterey Park, Calif.,$1.13 billion; and * Donna Young, COO, Vons CU, El Monte, Calif. $372 million.
“These credit union leaders were elected because of their technical capability, and strategic experience," said Mendell Thompson, CEO of America’s Christian CU, Glendora, Calif., and member of the Charter Committee. "Having representation from CEOs, CFOs, and COOs will provide the new corporate the right balance of credit union talent," he said. The Charter Committee will continue to work with the new corporate’s initial board of directors throughout the chartering process. “There is still much work to be done and we will continue to work with the new board as we set a solid foundation on which to build our new corporate,” Ken Burns, CEO, Patelco FCU, Pleasanton, Calif., added. The Charter Committee has more than 50 members representing credit unions in California, Hawaii, Idaho, Oregon, and Washington. It is actively soliciting more members. “We encourage our member credit unions to join the Charter Committee to help us launch this new corporate credit union. We truly value our member input, and seek their advice and council as we continue on the path to a new future,” said Western Bridge CEO Phil Perkins.