ST. LOUIS–Alltru Credit Union has named a new president and CEO to succeed the retiring Carol Minges.
The $300-million credit union said it has selected Michelle Rosner, who is currently chief lending officer, to lead the organization effective April 1.
Minges was named CEO in 2014 as has been with Alltru for 14 years, including previously serving as chief information officer. According to the credit union, for nine of those years Minges has been commuting between Indianapolis and St. Louis as her husband was named CEO of Financial Center First Credit Union in Indiana.
“On behalf of the board of directors and the employees of Alltru, we want to thank Carol for her guidance and influence as she loyally served our community as CEO,” said Chairwoman Gina Hakenewerth. “Through her years at the credit union, Carol led us through strategic evolution, a global pandemic, technology innovations, a rebrand and helped develop many accessible products and services for our community. The board is grateful to Carol for her devotion and wishes her nothing but the best as she retires and builds a new home in Indiana with her husband.”
Years of Development
The credit union said Rosner’s selection as CEO follows years of leadership development and planning led by Minges and the board.
“Supported by a united leadership team, a strong balance sheet and growing membership, Michelle Rosner is positioned for success in this role change to CEO,” added Hakenewerth. “After 25 years in leadership at the credit union, the board unanimously voted for her as the right choice to lead Alltru into the next phase of service to our community”.
Rosner joined Alltru Credit Union in 1997 when it was known as Aerospace Credit Union and has held several senior roles, including chief lending officer and VP-marketing. Rosner was hired as the credit union’s first marketing manager and during her time leading the lending and collections departments “she has implemented many initiatives that have resulted in the deployment of millions of dollars in safe and accessible loans to people experiencing low credit and low income,” the credit union said.
“During her tenure, the credit union reached record net yields and lowered delinquency to align with industry peers,” Alltru continued in a statement. “Michelle has proven she understands how to implement solutions which help the credit union and the community.”
‘I Am Grateful’
“I am grateful for Carol Minges and the Alltru board of directors for this incredible opportunity to continue making a positive difference in the communities we serve and to expand to help more people,” said Rosner. “When I began my career, we had over 12,000 credit unions in the US. Today, we have just over 5,000 credit unions remaining. There continues to be fewer choices for people of modest income, and we are being challenged daily by non-traditional fintech companies, compliance regulations, and economic conditions never seen before.
“At the center of everything we face, one thing remains; the people deserve a not-for-profit financial institution which cares about creating financial stability versus making stockholders wealthy,” Rosner said.
‘A Great Honor’
Added Minges, “It was the great honor of my life to serve this credit union, our employees, our members, and our community. I am blessed to be able to retire with the credit union in a strong financial position and with such a talented and passionate team of leaders and employees ready to continue the good work. I’m looking forward to seeing the continued success of Alltru with Michelle at the helm.”
Alltru Credit Union has more than 36,000 members and was chartered in 1968 as District 837 Credit Union by the International Association of Machinists.
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