California Credit Union Replaces Fired CEO
The new CEO joined CoastHills in 2015 as chief information officer.
CoastHills Credit Union said Thursday it has picked a new chief executive from within its ranks five months after firing its CEO.
CoastHills ($1.1 billion in assets, 67,443 members) chose Paul Cook as president/CEO of the credit union based in Lompoc, on the Pacific Coast about 150 miles northwest of Los Angeles.
The board of CoastHills fired Jeff York as president/CEO March 16 after an internal investigation into alleged “inappropriate management behavior.” Dal Widick, who had retired from the credit union in 2015 as a senior vice president, then agreed to return as interim CEO.
His replacement, Cook, joined the credit union in 2015 as senior vice president and chief information officer. He had spent the previous 10 years serving in similar roles with banks and credit unions.
York had been an executive vice president of CoastHills when he was promoted to president/CEO in 2004.
Under York, CoastHills surpassed $1 billion in assets in 2016, and last year announced plans to build a $27 million headquarters in Santa Maria, 30 miles north of Lompoc. Work is expected to be finished by year’s end on the three-story, 91,000-square-foot building. In June, CoastHills surpassed $1 billion in loans.
CoastHills had net income of $1.3 million for the six months ending June 30, down from $3.9 million in 2017′s first half.