MALVERN, Ark.—Diamond Lakes FCU here has named Tammy Passafiume as its new CEO.
She comes to the credit union with more than 23 years of experience in the credit union movement, having served previously at the helm of River Valley FCU in Camden, Ark. Additionally, she has held positions on CUNA's Community Credit Union Committee, the ARCUSO board of directors, and the Cornerstone CU League's CU Resources board of directors
Wayne Reynolds, chairman of the board at the $67 million credit union, hailed Passafiume's experience and strategic vision.
"With a proven track record for successfully leading lending initiatives and driving technical innovation, Tammy's leadership skills are well suited to lead Diamond Lakes," he said.
Diamond Lakes' most recent Call Report shows a net income of $33,000 through the first three quarters of the year and it earned $183,000 last year. But recent data from NCUA shows that small CUs continue to struggle, and Arkansas saw only median 0.1% member growth in the 12 months ending in September, though median loan growth in the state was at 3.9%.