FORT WORTH, Texas—Former American Airlines FCU executive Andy Reed has been installed as the new CEO at Texas People FCU here.
Reed formerly served as Business Development Manager at AAFCU, retiring from that position in October of last year. But retirement was short-lived, as Reed accepted the leadership position at Texas People last month.
Moving up the C-suite chain and down the asset ladder will mean plenty of work for Reed. Texas People has just $21 million in assets compared to the $5.6 billion at American Airlines FCU, and it lost more than $102,000 last year. While its delinquencies are relatively low, 2014 saw more than $50,000 in chargeoffs. Its December 2014 Call Report lists just less than $13 million in loans on the books, concentrated primarily in new and used auto lending.