Illinois CUSO Picks Earthmover CU CEO as New Chief
Calderone to join the ICUL Service Corporation as its leader by year's end.
The Illinois Credit Union System has hired a credit union CEO to run its CUSO providing products nationwide.
The system announced Wednesday that it has chosen Libby Calderone, president/CEO of Earthmover Credit Union in Oswego, Ill., to become president of its ICUL Service Corporation (LSC). Both the LSC and the system are based in Naperville, Ill., about 30 miles west of Chicago and 12 miles east of Oswego.
Calderone joined Earthmover in 1987, and has been its president/CEO since 2007. Earthmover is a long-time LSC customer and Calderone has been member of its board since 2009. A news release from the system described her as “a strong and dynamic leader with a “keen business sense.”
She will join the CUSO at the end of this year, reporting to Tom Kane, President/CEO of the system. In 2015 Kane was named president/CEO of both the system and LSC, after serving the previous 12 years as LSC’s executive vice president.
“I’ve had the good fortune to know and work with Libby as an LSC partner and Director for a number of years,” Kane said. “Libby will be a great addition to our executive team as we work to expand our services for the benefit of credit unions.”
Earthmover, started in 1958 by Aurora, Ill., Caterpillar plant workers, is not federally insured and does not report its results to NCUA. Its website reported that the credit union had $3.9 million in net income in 2017 and ended the year with nearly $260 million in assets.
The Illinois Credit Union System is comprised of LSC and the Illinois Credit Union League, the trade association for more than 260 state and federal credit unions in Illinois serving 3.4 million members.
LSC serves more than 2,300 credit unions in 50 states, providing credit, debit, pre-paid debit, portfolio development assistance, ATM services, mobile applications, and debt collection.
Calderone said her experience with LSC built her trust in the organization. “They always look out for the best interest of their credit union clients and I look forward to being a champion for the excellent work they do,” she said.