Banking

ValleyStar names interim leader after CEO takes new position in Fla.

ValleyStar Credit Union in Martinsville, Va., has appointed Lisa Lambrecht as its interim CEO.

Lisa Lambrecht, interim CEO of ValleyStar Credit Union

Lambrecht was previously CEO of Entrust Financial Credit Union in Richmond, which merged into ValleyStar in 2019. She has spent 20 years in the credit union movement, most recently serving as ValleyStar’s executive vice president. She replaces Delbert Lee Morgan, who was recently named president and CEO of Pen Air Federal Credit Union in Pensacola, Fla.

“ValleyStar will benefit from Lisa’s proven track record of strengthening the financial health of organizations and improving both employee and member engagement,” Douglas Nunn, ValleyStar’s chairman, said in a press release Friday. “ValleyStar takes service and the trust of its members seriously and Lisa continues to strengthen the credit union’s ability to meet member needs.”

ValleyStar’s news was part of a slew of CEO changes announced by credit unions last week.

“Cultivating meaningful relationships provides the strength and flexibility for ValleyStar to grow into the future. We have heard our members — their needs and expectations — and we are committed to bring the technology banking offers while remaining passionate about reinforcing the relationships we have built here at ValleyStar,” Lambrecht said in the release.

The credit union, which was previously known as Martinsville Dupont Employees CU, earned just over $1 million last year, compared with $2.5 million in 2019, according to call report data from the National Credit Union Administration.



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