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Corporate America Accepts Thomas Bonds’ Resignation to Pursue Other Ventures
Industry veteran and SVP of Risk Management Dan Buckley will serve as Interim President/CEO
Irondale, Ala. (July 3, 2012) – The Board of Directors of Corporate America Credit Union (CACU) and President/CEO Thomas Bonds announced today that the Board has accepted Bonds’ resignation.
Bonds joined the staff of CACU in 1998 and was President/CEO for the past 11 years. He was the recipient of Credit Union Times’ Trailblazer Award for 2011 CEO of the Year, largely based on his steady guidance of the $3.3 billion corporate throughout the financial crisis. Under his leadership, CACU members suffered no losses – either to their membership capital shares or paid-in capital. Prior to CACU, Bonds served with the National Credit Union Administration as an Examiner for corporate credit unions and Principal Examiner for natural-person credit unions. He is licensed as both a CPA and Attorney at Law in Alabama.
“It is clear that the corporate credit union industry is changing. As such, I believe that I can better use the skills I have acquired over the past 25 years to assist credit unions with brokerage services,” Bonds said. “I hand-selected the senior staff in place at Corporate America and have the very highest level of confidence in their abilities to lead the credit union to even greater successes in the future.”
“Thomas will be missed by the members and employees of Corporate America, and his contributions toward the growth and success of the Corporate cannot be overstated,” said Dan Buckley, Acting President/CEO. “We all join in wishing him success in his new ventures.”
Board Chairman Steve Nix agreed noting, “Corporate America has many sustainable advantages that uniquely position it among corporate credit unions.” Nix went on to say, “the Board recognizes this change in leadership may be unexpected news for some members; however, Corporate America like most organizations was prepared for a change in leadership with a management succession plan that has worked exceptionally well.”
Regarding Corporate America’s continuing leadership, Nix said “the Board appointed Buckley Interim President/CEO while a search begins for a replacement for Bonds.” Buckley joined CACU in 2010 as Senior Vice President of Risk Management. Before coming to CACU, he was Corporate Field Supervisor for NCUA, where he worked for 25 years.
“The Board has complete confidence in Dan,” said Nix. “In accordance with Corporate America’s succession plan, Dan filled the role of Acting CEO while Mr. Bonds was on personal leave. The transition to his leadership was seamless, and he’ll serve in the interim position until the Board selects a permanent President/CEO.”
Board Member Merrill Mann said, “The combination of Dan’s lengthy NCUA experience and his time at Corporate America make him uniquely qualified to lead that organization.”