Mendivil to serve as AEA's interim CEO
A new interim chief executive officer for AEA Federal Credit Union was announced in an email letter to members of the financial institution.
Brian Mendivil, who served as AEA's executive vice president for the past two years, has assumed the interim CEO position. He succeeds Tom Martin, who held the position since December 2010 when AEA was placed in conservatorship by the National Credit Union Administration.
A native Arizonan, Mendivil brings more than 21 years of financial management experience to the position. As executive vice president, he has been actively involved in AEA's re-emergence as a strong financial organization serving residents of Yuma and La Paz counties.
“It has also allowed me to meet many AEA members, community leaders and business partners,” he said in the email. “I have enjoyed getting to know the warmhearted and spirited city I now call home.”
He also pledged “my commitment is to continue steering AEA Federal Credit Union on its positive course, while maintaining a members-first philosophy.”
Because AEA remains in conservatorship, Mendivil said he was unable to comment further on his promotion.
In January, NCUA reported on AEA's improved financial performance for the year ending Dec. 31, 2012, in its fourth-quarter call report. The progress was attributed to several new services for members and more efficient operations.
The progress has NCUA officials hopeful the credit union can emerge from conservatorship this year.