BETTENDORF, Iowa–Two credit unions have named new CEOs.
At R.I.A. Federal Credit Union here, Jim Watts has been tapped to lead the organization effective April 27. Watts will replace the retiring Larry Coverstone as president/CEO.
Watts is joining the $396-million R.I.A. FCU from Muscatine, Iowa-based Central Bancshares, Inc., where he served as senior vice president and chief operations officer for two years. He has also previously held positions with West Texas National Bank as chief operating officer and as executive vice president and chief information officer at the $2.2-billion Royal Credit Union in Wisconsin.
"I am happy to have been offered such a fantastic opportunity at R.I.A. Federal Credit Union and I am very much looking forward to joining the organization," Watts said.
The credit union has approximately 42,000 members.
Meanwhile, in Chadds Ford, Penn., the $1-billion Franklin Mint Federal Credit Union has named Michael B. Magnavita as president and CEO effective immediately.
Magnavita previously served as executive vice president and chief financial officer at FMFCU since 1993. He started his FMFCU career in 1987 as assistant vice president and controller.
Magnavita succeeds John Unangst as CEO. As CUToday.info reported here, Unangst died in January of this year after having been with the credit union for more than 40 years.
"I am incredibly excited and humbled to accept this new challenge," commented Magnavita. "Our commitment to offer market-leading products and services to help members achieve their financial goals remains unwavering."