Kathy Garner to Retire as President/CEO of Catalyst Corporate Federal Credit Union
September 24, 2018
After a successful credit union career spanning nearly four decades, Kathy Garner will retire as President/CEO of Catalyst Corporate Federal Credit Union in March, 2019.
Garner has served in the top job at Catalyst Corporate since 2012, when a merger of Georgia Corporate Federal Credit Union and Southwest Bridge Corporate Federal Credit Union created the new entity. Prior to becoming CEO, Garner served five years in executive positions at Southwest Bridge Corporate.
She will leave Catalyst Corporate in a sound financial position with a total capital ratio of 10.54 percent, a retained earnings ratio of 3.48 percent, and an operating efficiency ratio of 87 percent – well ahead of NCUA’s capitalization requirements. The Corporate protects $2.6 billion in financial assets and represents nearly 1,400 member and client credit unions, providing them with core financial services and “back office” support.
Garner’s 37-year tenure in the Credit Union Movement also includes 12 years of service as CEO at Northwest Corporate Credit Union. She’s remained committed to committee and board service in the Movement throughout her career. Though she relocated from the Portland area to Texas to be closer to her Catalyst office in 2012, she maintained her Northwest connections and continued to serve in the Community position on the Northwest Credit Union Foundation (NWCUF) Board of Directors.
“Credit unions have been my life’s work and it has been extremely rewarding,” Garner said. “People put heart in the credit union movement, and on the journey, I’ve had the opportunity to work shoulder-to-shoulder with so many passionate and dedicated credit union supporters.”
Lin Hodges, Catalyst Corporate’s Board Chairman, applauded advances the Corporate has made on Garner’s watch.
“Member credit unions give Catalyst Corporate a superior NPS score year after year – underscoring the trust and respect the organization has created in the industry,” Hodges said. “Kathy and her senior staff have created the most member-centric organization I’ve ever been involved with.”
Part of that member-centric focus is undoubtedly due to Garner’s emphasis on relationships and engagement with the member credit unions. She noted in an Anthem article celebrating her fifth anniversary as CEO that members were always comfortable providing feedback on ways to improve services, and that she was always willing to make necessary changes for improvement.
Chairman Hodges noted that the mission will be to carry Garner’s vision and business model forward. Accordingly, the Board’s succession plan is to promote from within. Bruce Fox, currently Executive Vice President and Chief Investment Officer, will take the reins upon Garner’s retirement.
Posted in Around the NW.