Sweet-McGregor retires from troubled AEA Federal Credit Union

January 24, 2011

Sweet-McGregor retires from troubled AEA Federal Credit Union

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Yuma, AZ January 24 – Denise Sweet-McGregor, Executive Vice President of AEA Federal Credit Union, has announced plans to retire effective February 18, 2011. 

"Being a contributor to AEA Federal Credit Union's growth from a small teachers' credit union to a full service community chartered financial institution, has been a true labor of love," McGregor said. 
McGregor's career at AEA Federal Credit Union began in 1975 as a teller when the asset size
was just $8 million.  Throughout her career, McGregor was responsible for overseeing marketing, personnel, operations and administration.  For the past 24 years, McGregor served in a senior management capacity, most recently as Executive Vice President. 

In early 2010 McGregor stepped up to the position of Interim CEO following the retirement of Ken Bredemeyer.  She resumed the position of executive vice president when the National Credit Union Administration took control of AEA in December due to its deteriorating financial situation brought about largely by big losses in its real estate loan portfolio.

Criminal charges have since been filed against AEA's former business lending official and others for an alleged kickback scheme

 "The challenges we faced over the past year, while difficult, have contributed to building a greater level of personal and professional confidence.  I am proud of my accomplishments and am certain I am leaving AEA Federal Credit Union in capable hands," McGregor stated.  

Civic involvement has been an important part of McGregor's contribution to her Credit Union and community.  During her career, she was elected Chairman of the Yuma Chamber of Commerce Board and President of the Yuma Rotary Club.  McGregor served on both the Yuma Regional Medical Center Community Advisory Council and the Yuma Community Foundation's Advisory Council.  She continues to serve on the Education Foundation of Yuma County's Board of Directors, a personal passion for 22 years.  She is also currently President Elect for the Arizona Western College Foundation Board and she dedicated 10 years of service to the Yuma School District #1 Board of Directors.  Within the Credit Union industry, McGregor is a graduate of the Western CUNA Management School, CUNA's Financial Management School, and the CUNA Marketing Institute.  She is past chair of CUNA's National Youth Involvement Council and was President of the Yuma Chapter of the Arizona Credit Union League for 10 years. 

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