Tricorp Federal Credit Union Announces Billy LaFavoras Successor to Steve Roy
The Board of Directors of Tricorp Federal Credit Union announced today that Billy LaFavor has been named President/CEO to replace Steve Roy when he retires in September of this year.
Mr. LaFavor joins Tricorp from Credit Union Investment Solutions LLC, a corporate credit union CUSO. Founded in 1998, CU Investment Solutions provides broker dealer and investment advisory services exclusively for corporate credit unions and for natural person credit unions through its Corporate Agent Program. Billy has been working directly with Tricorp since 2008 providing ALM strategy and modeling and has assisted with the management of the investment portfolio for Tricorp. Because of his involvement in working with Steve and Tricorp’s ALCO he has an excellent understanding of the financials of Tricorp and how it operates.
In addition to working closely with not only Tricorp but several other corporate credit unions across the country, Billy oversaw the firm’s brokerage service which included 40 sales representatives assisting over 400 credit unions with their investment needs. He has a wealth of experience working with credit unions and corporate credit unions educating them on investments, formulating their investment strategies, and reviewing policies for investment, credit and asset liability management.
“The Tricorp Board is extremely excited about Billy becoming the next CEO at Tricorp,” said Ryan Poulin, Tricorp’s Board Chair. “We are confident that he is absolutely the right candidate for this position to continue to move this organization forward. Even though he may be from “away”, his personality and mindset make him a great fit for our staff and credit unions. We got the whole package with this one”.
“I’m grateful to be selected by the Board to join a very dedicated and member focused team, and I look forward to building lasting relationships with them and all the members and partners of Tricorp”, shared LaFavor. “Tricorp remains committed to its members needs, has a very safe and sound balance sheet, and has a tradition of excellence in member service, and I look forward to continuing that tradition”.
Billy will be joining Tricorp later this Spring and will be working closely with Steve Roy to ensure a smooth transition through the remainder of the year. Billy brings a lot of critical knowledge, investment and ALM experience, and people skills to Tricorp. He looks forward to carrying on all of the ways that Tricorp serves its members and ways to continue to grow the value of Tricorp for its members.