Michael Leonard Appointed President & Chief Executive Officer of Atlantic Central and League Savings and Mortgage Company
Michael S. Leonard has been named President & Chief Executive Officer of Atlantic Central and League Savings and Mortgage Company effective March 1, 2013. The appointment was announced today by Dave MacLean, Chair of the Board of Directors of Atlantic Central. His appointment was the culmination of an extensive national search that attracted the interest of more than 75 highly-qualified candidates from across Canada.
Michael Leonard is an experienced executive in the credit union system and has served most recently as Senior Vice-President, Relationship Management & Strategy, with responsibilities as a member of the joint Atlantic Central and League Savings and Mortgage Executive Management Team. He brings to the position his extensive experience with CUMIS Insurance, Credit Union Atlantic and Credit Union Central of Nova Scotia.
“Michael’s in-depth knowledge of the issues facing the financial services sector and the Atlantic credit union system combined with his experience in the credit union system represents the leadership style the Board is seeking at this crucial time”, says Dave MacLean, Chair of the Atlantic Central Board of Directors.
Atlantic Central (AC) is the trade association for the region’s 58 autonomous credit unions. As prescribed by the Nova Scotia Credit Union Act, AC manages liquidity reserves, monitors credit-granting procedures, and provides financial and other services to credit unions including banking, treasury, corporate governance, representation and advocacy, and government relations. As well, credit unions have access to payment and settlement systems, human resources, research, communications, marketing, planning, product and service R&D, lending and business consulting, and sound business and financial policies and procedures through AC. Atlantic credit unions jointly own AC and twelve representatives from the four provinces sit on its Board of Directors. AC is financed through assessments and fee income derived through its operations.
Jim MacFarlane, Chair of the League Savings Board of Directors, expressed his appreciation of the experience that the new CEO of both companies will bring to the role. “I am pleased that Michael Leonard will continue with us in this new role. He has a strong commitment to the success of the credit union system in Atlantic Canada.”
League Savings and Mortgage Company is a wholly-owned subsidiary of AC. All credit unions in Atlantic Canada are shareholders of League Savings and Mortgage Company which provides services and products through credit unions to assist them meet the financial needs of their members. League Savings and Mortgage Company is therefore an integral component of the credit union system in Atlantic Canada.
Chair of the Board