FAIRHOPE, Ala.--Leo Vaulin, founder and CEO of CU*SOUTH, has retired after 15 years as the company’s leader.
From Vaulin’s initial days in the credit union industry back in 1983 when he was hired to help build a credit union’s general ledger system, to 2006 when his vision came to fruition as he co-founded CU*SOUTH, he has served as the only CEO to date of the CUSO that provides a complete suite of software, as well as back office, collections, compliance, IT, and marketing services.
“In 2021, CU*SOUTH had its best year ever,” recounts Vaulin. “We grew to seventy credit unions serving more than 250,000 members, expanded our team by 25%, recorded $7.6M in gross revenues, and returned record net earnings to the firm. Our top strategic priority remains our focus on delivering outstanding customer service. My confidence in the Credit Union Movement, and my passion for it, have never been higher.”
Vaulin continues, “I’ve built my entire career working with credit unions, and I’ve never seen a time when the role of credit unions in their communities has been more vital. With CU*SOUTH well positioned to continue its mission, the time is right for me to further my own personal goals in serving the Credit Union Movement.”
Vaulin will remain with CU*SOUTH in a "consultative nature" for the next 6-months, working directly with the Board of Directors and Executive Council. CU*SOUTH’s Board of Directors has named the current Chief Operating Officer, Derrick Smith, as interim President as the Board looks to identify and seat a new CEO.