Credit union collaboration takes a new turn this week as two Washington-area credit unions begin sharing a single CFO.

Karen Gouldmann will split her time as CFO between the $68 million Department of Labor Federal Credit Union in Washington, D.C. and the $57.7 Destinations Credit Union in Baltimore, Md.

Good utilization of resources was the driving reason behind the move, according to Joan Moran, CEO of DOLFCU.

“Both Destinations and DOLFCU were looking for a highly qualified CFO candidate in the DC/Baltimore area,” Moran said. “As similarly sized institutions, it made sense for us to collaborate in order to attract and retain top talent.”

Gouldmann has a strong financial background and was most recently employed by Tower Federal Credit Union in Laurel, Md. Throughout her 16 years of management experience with financial institutions, she has held positions including CEO for U.S. Coast Guard Credit Union, vice president of audit and compliance for MECU in Baltimore, and senior auditor for Provident Bank.

DOLFCU serves employees and retirees of the U.S. Department of Labor and their families. Destinations Credit Union was originally founded as Baltimore Transit Employees Credit Union in 1935 and has since expanded to include a number of other eligible organizations in its field of membership.