South Dakota League Picks New CEO

SIOUX FALLS, S. D. – The South Dakota Credit Union League, which more than a year ago courted a failed consolidation with the North Dakota League, has hired Peter Henthorn, a Boulder, Colo. businessman, as its new president/CEO effective June 5. Henthorn, owner of a consulting firm which has been serving both CUs and banks on pricing and product strategies, fills a vacancy left open since last November following the retirement of 64-year-old Donald Couch. Serving as interim CEO has been Leon Swenson, a long-time League consultant. “We’re ecstatic about finding Peter and we are looking forward to his coming on board,” said Floyd Rummel III, the League chairman and president of Dakota Territory FCU in Deadwood. Henthorn is owner of Profit Motivators International, a firm he has run since 1979 and is now selling to members of his family, said Rummel. Henthorn is to be introduced to the League membership at its annual meeting May 19-20 in Aberdeen. “Peter has an excellent background working with independent banks and credit unions in helping to bring on new products, pricing strategies and on streamlining operations which is one reason we felt strongly about him,” said Rummel. Rummel said the South Dakota League continues to work closely with its North Dakota counterpart on education and training meetings but discussions on any consolidation “is down the road.” “Right now we want to get South Dakota back up and running and moving forward,” said Rummel noting also the League would likely be increasing staff in Sioux Falls after paring it back in preparation for the merger with North Dakota That combination had been set to start last January but was called off suddenly in a dispute over representation and economics. Rummel said the South Dakota League headquarters here is still up for sale as the League plans on finding smaller, less expensive housing. [email protected]