WINSTON-SALEM, N.C.–Allegacy Federal Credit Union has named a new president and CEO, who will be part of a year-long transition period.
The $2.22-billion AFCU has selected Nathanael Tarwasokono to lead the organization and succeed Cathy Pace, who will retire on Jan. 1, 2025, after serving the cooperative for more than 45 years. Pace and Tarwasokono, who will officially join Allegacy on Feb. 15, 2024, will be “working together closely to ensure a smooth transition over the coming months,” according to the credit union.
Tarwasokono has more than 20 years of experience in financial services, and for the last eight years has served as president/CEO of the $1.2-billion Firstmark Credit Union in San Antonio. Previously, he served for nearly eight years as President/CEO of Pima Federal Credit Union in Arizona.
‘Coming Home’
“I’m thrilled to be coming home to North Carolina and I’m humbled to be joining such a wonderful, well-respected credit union,” said Tarwasokono in a statement. “Allegacy has a dedicated board and leadership team, a great culture, and strong financials. Succeeding a visionary CEO like Cathy Pace is truly an honor, and I’m excited to continue her legacy of ‘doing the right thing’ for our members and communities.”
Tarwasokono has a Bachelor of Science in Accounting and Business Management. He is a Certified Public Accountant and a Chartered Global Management Accountant. He has a long history of community and industry involvement, including serving on both local and national boards.
Additional Background
Tarwasokono is married and has two boys. His wife grew up in North Carolina and is looking forward to returning home, the credit union said. In his spare time, he enjoys building Legos, a favorite childhood activity he rediscovered as an adult.
The placement was handled by DDJ Myers.