NCUA official seal. (Source: NCUA)
The NCUA announced Thursday that Cory Phariss has been selected as the new president of the Asset Management and Assistance Center (AMAC). Phariss has been serving as deputy to the president at AMAC and will take over the new leadership position on Feb. 12.
The decision came after the NCUA board voted by notation on Dec. 1 to approve moving the management and oversight of the AMAC out of the Southern Region to an independent office. Keith Morton, who serves as regional director for the Austin, Texas-based Southern Regional office, has been serving double duty as president of the AMAC, until now.
According to the NCUA, Phariss will serve as key advisor to the NCUA board "on matters like implementing liquidation payouts, managing assets acquired from liquidations, and managing recoveries for the National Credit Union Share Insurance Fund."
Cory Phariss NCUA Board Chair Todd Harper said, "Cory has already played a significant role in several large, complex credit union resolutions while serving as Deputy to the president of AMAC. With his extensive experience, exceptional business acumen and strong management skills, Cory is well-suited to lead the Asset Management and Assistance Center and will hit the ground running. I look forward to working with him in support of AMAC's mission of promoting confidence in the credit union system and minimizing insurance losses."
Vice Chairman Kyle Hauptman added, "Few jobs at the NCUA are as crucial as President of AMAC, so I'm pleased we've promoted a high performer like Cory to this position. I look forward to working with Cory to accomplish the agency's top priority, which is protecting the Share Insurance Fund."
"Cory is a proven leader who will excel as the president of the Asset Management and Assistance Center," Board Member Rodney E. Hood said. "He is knowledgeable, trustworthy and studious. The NCUA significantly relied on Cory as he successfully managed the agency through the taxi medallion crisis, so I know he will be able to face any challenge that comes his way. We are lucky to have Cory on our executive management team."
Phariss joined the NCUA in 1999 and has served in a number of roles including supervisory examiner and director of supervision in the former Region IV, according to the NCUA.
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Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
