Longtime Aux CUSO CEO to Retire, New Leadership Named

Doug Burke, the CEO of CUSOs Aux and InNetwork, announced on Thursday that he will retire after 31 years as its leader.

According to a statement from Aux and InNetwork, once Burke officially steps down on March 31, 2023, the organization’s current CFO, Diane Parham, will succeed him.

Burke started his CEO position at the organization, then named CU Service Network, when it was formed in 1992 as a shared branching CUSO. Over the years as the CUSO added back-office services in accounting and compliance, the decision was made in 2020 to rebrand and split the CUSO into two organizations: Aux for the back-office services and InNetwork for the shared branch network services.

According to Thursday’s statement, Burke has grown the CUSO significantly under his leadership and the organization now serves more than 200 credit unions in 38 states.

“After 37 years of helping credit unions across the country succeed and excel, it is time to start a new life chapter in retirement,” Burke said.

He added, “And I have had the great pleasure to work with an awesome team of people over the years who also embrace the credit union mantra of ‘people helping people.’ I couldn’t have chosen a better career or group of people to do it with!”

While board members for Aux “considered a range of candidates” to take over the leadership position, Parham was “the best choice to lead the CUSO forward,” according to a statement.

Parham joined Aux in 2019 as its CFO and has led its accounting services team. Prior to Aux, Parham was CFO at the $730 million, Houston-based Member’s Choice Credit Union.

“I am excited to take the reins from Doug and know that I have big shoes to fill,” Parham said. ”Doug has created an awesome organization with incredible momentum that continues to have huge potential for growth. Aux and InNetwork provide much-needed services for all types of credit unions who seek to save time and money and add competitive expertise by outsourcing essential back-office functions or choosing shared branch advantages. I look forward to leading these organizations to help even more credit unions succeed.”

Aux’s board chair and the CEO of Zing Credit Union ($448 million, Denver), Tessa Bonfante, said, “Aux and InNetwork are in a great position to serve credit unions who need back-office support and shared branch services, especially in today’s competitive environment. Changes in leadership at critical times can sometimes make or break an organization. The Aux board of managers believe the best way to continue the great momentum at Aux and InNetwork was to appoint Diane as CEO upon Doug’s departure. Transitioning from one great leader to another will insure the CUSO’s success for years to come.”

Parham will become CEO of Aux and InNetwork on April 1 upon Burke’s retirement.