ALEXANDRIA, Va. (Nov. 16, 2020) – Municipal Credit Union today reported completing the next step in its recovery plan with the appointment of Kyle Markland as the permanent Chief Executive Officer. Municipal Credit Union has operated under the conservatorship of the National Credit Union Administration since May 2019.
“The placement of Kyle Markland as the permanent CEO is a key step in the credit union’s recovery and lays the groundwork for its continued financial health and safety and soundness,” said John Kutchey, Regional Director for the NCUA’s Eastern Region.
Markland has an extensive credit union career. He joins Municipal after most recently serving as Chief Operating Officer for Bethpage Federal Credit Union in Long Island, New York. In this role, Markland led several functional areas and strategic planning for the largest credit union in New York. Previously, he served as President/CEO for Affinity Plus Federal Credit Union in St. Paul, Minnesota, and Executive Vice President/CFO for Bellco Credit Union in Greenwood Village, Colorado. Markland also held roles with GTE Federal Credit Union and Suncoast Schools Federal Credit Union.
Markland earned a Master of Business Administration from Regis University in Denver, Colorado, and a Bachelor of Science in Accounting from the University of South Florida in Tampa, Florida.
Municipal Credit Union has improved financial results, reporting a year-to-date net income of $30.2 million through September 30, 2020.
Credit union member deposits remain protected by the National Credit Union Share Insurance Fund. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.
Municipal Credit Union is the oldest credit union in New York and one of the oldest in the country. Established in 1916 and headquartered in New York City, Municipal Credit Union has assets of more than $3.7 billion and more than 500,000 members, according to its most recent Call Report. For more information about Municipal Credit Union, visit www.nymcu.org.