PENSACOLA, Fla.-David Tuyo, former interim CEO at the $1.2-billion Pen Air FCU, is moving on to Lending Solutions, Inc.
Tuyo, EVP/CFO, managed CEO duties for nine months following the departure of Ron Fields, who resigned last year. Last month Pen Air announced it had hired Stewart Ramsey, president of Tennessee's Fort Campbell FCU, to be its new CEO.
Tuyo told Credit Union Journal he is anxious to begin working with LSI founder Rex Johnson. "Rex was keeping his eye on the marketplace and had a short list of highly motivated and highly qualified candidates, and I was on that list. When I did not get the CEO job at Pen Air, Rex knew I was looking and called me."
As VP of solutions, Tuyo will be consulting with CUs, and he will continue to live in Pensacola. "I will be working with credit unions across the country, teaching various schools, running webinars, and working with them one-on-one. I am very excited about getting out into the movement and helping the credit union community on a much larger scale, binging many of the successful strategies we used at Pen Air to more credit unions."
Pen Air accomplished a great deal in a short period under Tuyo's direction. "We had a great run. The last nine months we broke just about every corporate record on Pen Air's books. On top of that we created a CUSO, the Pen Air Foundation, and also started a trust company."
During his three-and-a-half years at Pen Air, Tuyo saw monthly loan originations increase from $9 million to $22.5 million. "When I got there in 2008 we made $660,000 in income, $6.2 million the next year, $6.6 million the following, and $12.1 million in 2011. This year Pen Air should make well over $15 million. Those are the kinds of results I would like to bring to many more credit unions."
Tuyo is looking forward to helping CUs with leadership, risk management, and other matters. He also wants to help CUs stay focused, saying the difficult financial times are distracting some CUs. "Given the different tides and currents going on in the industry, we can sometimes forget our focus, which is to help people. Members are still hurting. We have to find more ways to lend them money. There is a lot of need out there now."
Tuyo joined Pen Air in 2009 after a two-year stint at First Florida CU in Jacksonville, Fla. He will begin his new role at LSI July 23.