Steven Krauser was appointed interim president/CEO of the $1.9 billion Melrose Credit Union after the credit union got into some trouble due to a concentration in taxi medallion loans. The credit union is looking to diversify its loan portfolio, which is highly concentrated with troubled taxi medallion loans, leading to more than $180 million in net income losses over the last year.
Krauser (pictured) replaced 34-year CEO Alan Kaufman who left the Briarwood, N.Y.-based credit union two weeks ago.
Krauser joined Melrose CU in 2014 as its senior vice president of retail operations and earned a salary of $100,800, according to Melrose's 2014 IRS 990 document, the most recent filing publicly available.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
