Forum Credit Union veteran Doug True has been promoted to CEO, the Fishers-based financial institution announced Thursday morning.
True replaces interim CEO Michael Peterson, who took the helm after Gary Irvin left late last year. Forum officials called the departure a planned retirement, but Irvin left without a successor in place. Peterson will remain with Forum as chief risk officer.
Forum lost $2.8 million in 2010, marking the second time since 2007 that the state’s fourth-largest credit union lost money.
True has held numerous positions in his more than 20 years at Forum. Most recently, he served as chief lending and technology officer. He also helped found subsidiary Forum Solutions, where he served as president.
“Doug True is eminently qualified to take the CEO reigns of Forum Credit Union,” John Dierdorf, chairman of Forum’s board of directors, said in a prepared statement. “He excelled at all stages of the selection process and was the consensus choice from a group of highly qualified candidates.”
Forum has 12 branches in the Indianapolis area, 100,000 members and about 300 employees.The credit union has about $975 million in assets.