Erasmo Ramos will take over as president and CEO of $350 million-asset Security First Federal Credit Union on June 24, the Edinburg, Texas-based institution said this week.
Ramos currently is the chief executive at $129 million-asset Laredo Federal Credit Union, Laredo, Texas, about 150 miles from Edinburg. Both cities are along the U.S.-Mexico border in the southern tip of Texas.
At Laredo FCU, Ramos was credited with leading the credit union from troubled status with the National Credit Union Administration to a healthy CAMEL (capital adequacy, asset quality, management, earnings, and liquidity) rating.
During his time at Laredo FCU, Ramos was responsible for developing operational policies and practices for each department function while maintaining a management information system connecting all departments, the credit union said in a statement.
According to Security First FCU, Ramos’ credit union management experience “will be a valuable asset” to the credit union. “His passion for developing strategic direction and executing tactical plans will help Security First continue to provide exceptional service to its members,” the credit union said.
He replaces interim CEO Christine Dawe. Credit Union Resources, Inc. conducted the executive search that found Ramos.
Prior to Laredo FCU, Ramos served as president and CEO at La Joya Federal Credit Union in La Joya, Texas.
Ramos earned a master’s degree in business administration and holds a bachelor of business administration in finance from the University of Texas Pan American in Edinburg, Texas.
In its most recent call report, Security First Federal Credit Union had $680,717 in net income for the first quarter of this year, down 40% from the $1.13 million in net income it reported in Q1 2018. Its net worth ratio as of March 31, 2019 was 8.97% (“well capitalized”).
