Allegacy FCU Selects Next CEO for 2025
Nathanael Tarwasokono takes over the leadership helm for Cathy Pace, who will retire after over 45 years of service.
Nathanael Tarwasokono has been selected as the next president/CEO of North Carolina’s Allegacy Federal Credit Union, the board of directors said Wednesday.
He will succeed current CEO Cathy Pace, who plans to retire on Jan. 1, 2025, after serving the Winston-Salem-based cooperative for more than 45 years. She was appointed CEO in May 2013.
During Pace’s tenure, the credit union’s assets grew from $1 billion in June 2013 to its current assets of $2.2 billion, while loans increased from $744 million to $1.7 billion and membership expanded from 117,697 to more than 178,000, according to NCUA financial performance reports.
Allegacy, which is North Carolina’s fifth largest credit union by assets, has 406 employees who operate 28 locations.
Tarwasokono, who will be joining Allegacy on Feb. 15, 2025, will be working with Pace to ensure a smooth transition.
He has served as president/CEO for the $1.2 billion FirstMark Credit Union in San Antonio, Texas since 2015. Tarwasokono also served as president/CEO of the $1.1 billion Pima Federal Credit Union in Tucson, Ariz., for nearly nine years.
“We’re excited to welcome Nathanael to Allegacy,” Lisa Marshall, Allegacy’s board chair, said in a prepared statement. “His proven experience as a credit union CEO and ability to focus on forward-looking strategies, along with his personal desire to be rooted in North Carolina make him the best fit as we plan for our cooperative’s purpose-filled future.”
Tarwasokono is married and has two boys. His wife grew up in North Carolina and is looking forward to returning home. In his spare time, he enjoys building Legos, a favorite childhood activity he rediscovered as an adult.
“I’m thrilled to be coming home to North Carolina and I’m humbled to be joining such a wonderful, well-respected credit union,” Tarwasokono said. “Allegacy has a dedicated board and leadership team, a great culture and strong financials. Succeeding a visionary CEO like Cathy Pace is truly an honor, and I’m excited to continue her legacy of ‘doing the right thing’ for our members and communities.”