Allegacy FCU bolsters government group


Allegacy Federal Credit score Union in Winston-Salem, N.C., has named Michelle Salvadore its new chief monetary officer.

Michelle Salvadore, chief financial officer at Allegacy FCU

Michelle Salvadore, chief monetary officer at Allegacy FCU

A 24-year veteran of the $1.8 billion-asset credit score union, she succeeds Cosby Davis, who not too long ago took over as CFO of nearby Truliant FCU.

Salvadore most not too long ago served as interim CFO following Davis’s departure, in addition to senior vp of finance, accounting and enterprise threat administration. In additional than twenty years at Allegacy she has served in quite a lot of roles, together with assistant controller, inner auditor and extra.

“Michelle is a confirmed monetary chief with a broad understanding of credit score union rules, operations, inner controls and threat administration,” Cathy Tempo, Allegacy’s president and CEO, stated in a press launch. “She has been an instrumental member of the Allegacy finance group enjoying an integral function in our success all through the years. Her work as CFO shall be very important to sustaining Allegacy’s monetary integrity and supply us quite a few alternatives for continued development.”

Timothy Moore, president of Allegacy Services

Timothy Moore, president of Allegacy Providers

Timothy Moore was additionally appointed president of Allegacy Providers, LLC, a for-profit arm of the credit score union that features divisions associated to payroll, advantages, fraud and extra. He’ll oversee strategic planning and imaginative and prescient for the group whereas increasing new initiatives and entrepreneurial improvement throughout the firm, Allegacy stated within the launch.

“Tim has been a constant voice urging Allegacy to search out methods to develop and improve our member providers,” stated Tempo. “His background in enterprise and his business data coupled together with his entrepreneurial spirit will add to development and innovation at Allegacy Providers and its subsidiaries. Tim’s affect will positively have an effect on the credit score union by permitting us to additional construct upon our core strengths whereas reaching Allegacy’s monetary objectives.”

Moore has a authorized background and joined the credit score union’s group in 2016 as its first basic counsel. Late in 2019 he started overseeing inner auditing and governmental affairs.

Allegacy earned $11 million in 2020, down from practically $15 million the 12 months earlier than as mortgage earnings contracted and bills rose.


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