Cornerstone Community FCU



FOR IMMEDIATE RELEASEFor more information contactSuzanne Kennedy, VP of MarketingCornerstone Community Federal Credit Union(716)434-2290Cornerstone CFCU Announces Retirement of President/CEO, Ann HoodLOCKPORT, NY – Cornerstone Community Federal Credit Union announced today that President/CEO Ann M. Hood will retire effective February 28, 2018 concluding a career that has spanned more than three decades with the credit union.Hood was hired by Cornerstone CFCU in 1983 and began by working in the Accounting Department as the credit union’s bookkeeper. Shortly thereafter she was promoted to Accounting Manager. She then held the positions of Assistant General Manager and Interim General Manager prior to becoming President/CEO of the credit union in 2000.“Ann has been instrumental in the success of our credit union over the last 35 years” said David Nemi, Chairman of the Board. “Her leadership has allowed us to keep up with the needs of our members through safe growth, cutting edge technology, and excellent member service. Her commitment and dedication to Cornerstone have been remarkable.”Under Hood’s leadership Cornerstone’s assets have grown from $167 million to $425 million and membership has increased from 38,000 to over 48,000. The organization converted to a community charter, experienced a name change, completed a data processing system conversion and added 3 new branches during her tenure. “I am honored to have had the opportunity to lead this credit union for the past 18 years,” said Hood. “I am very proud of what we have been able to accomplish, and that we have met every challenge we have faced with determination. Though my time with Cornerstone is coming to an end, I know the credit union is financially sound and well positioned for this transition. I am confident that Cornerstone will continue to be a leader in the Western New York community. Even though I will miss the employees, volunteers and members, I am looking forward to a little relaxation and spending time with my family.” To find a successor to Mrs. Hood, the Cornerstone Board of Directors has enlisted John M. Floyd and Associates to assist with a nationwide executive search. A replacement is expected to be named in early 2018. In order to make the transition a smooth one, the Board has changed the structure of leadership, implementing a new Chief Operating Officer position. The COO will be in charge of day-to-day operations allowing the CEO to focus on the strategic planning and future direction of the credit union.Established in 1957, Cornerstone Community FCU is a full service financial institution serving all of Niagara County. For more information visit . ................
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