The ailing $317 million Chetco FCU located at the very tip of Oregon's southwest coast has hired Tom Glatt Sr's wife to take the helm.
"We're glad to have Diane Johnson as our CEO and we see a positive future," declared James Nelson, the chairman of Chetco based in Brookings Harbor.
The CU did lose $16.9 million last year and has been operating at just above 5% net worth "as a result of delinquencies which is what many other credit unions have also experienced," said Nelson in discussing the board's formal hiring of Johnson in May.
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