On Feb. 3, Alabama Gov. Robert Bentley appointed former APCO Credit Union CEO Larry Morgan as Administrator of the Alabama Credit Union Administration (ACUA). Morgan brings a wealth of credit union experience to the office including running the Birmingham based APCO CU, which is the largest state chartered credit union in Alabama with more than $1.8 billion in assets and more than 60,000 members, as well as serving on the Advisory board of the ACUA from 2005 to 2011 and working for the Alabama Credit Union League, now the League of Southeastern Credit Unions.
“Gov. Bentley’s appointment of Larry Morgan as Administrator of the ACUA gives great confidence to Alabama credit unions,” said LSCU President/CEO Patrick La Pine. “Larry understands credit unions in Alabama and the regulatory issues facing them which means that he will provide a steady and fair hand with the ACUA. The LSCU looks forward to working with Larry to improve the operating environment for credit unions.”
The ACUA is the regulator for credit unions chartered under the laws of the State of Alabama. The Administrator of this agency is the Chief Executive Officer of the Administration, and is appointed by the governor’s office and confirmed by the senate. Earlier this year, current Administrator Glenn Latham informed Gov. Bentley that he would not seek a reappointment.
“The League would also like to recognize and thank outgoing ACUA Administrator Glenn Latham for his years of service to credit unions in Alabama,” added La Pine.
In the letter of appointment to Morgan, Gov. Bentley pointed out that the position comes with great responsibility and that he will be making decisions that affect the citizens of Alabama. Gov. Bentley wrote that he hopes Morgan will be a good steward of the taxpayer’s money and that he will work to maintain the trust that the citizens and the governor have in him. His term runs through Feb. 1, 2015. He now awaits confirmation by the Alabama Senate before beginning his duties as Administrator.