In 2007, the year before the economy crashed, Cindy Konich became executive vice president and chief financial officer of Federal Home Loan Bank of Indianapolis.
She survived the chaos, and this month Konich was promoted to president and CEO, succeeding Milton J. Miller, 57, who retired July 1.
“Cindy helped navigate the bank through the financial crisis, and the board and I are confident that she will effectively lead FHLBI through the persistent challenges of the evolving financial services and mortgage product marketplace,” Chairman Paul Clabuesch said in a written statement.
Konich, 56, a certified public accountant, has a degree in economics and an MBA in finance from Indiana University. She’s worked at the bank since 1984. She’s also been treasurer and chief operating officer.
FHLBI is one of 12 regional banks that make up the Federal Home Loan Bank System. The government-sponsored banks give financial institutions access to low-cost funding. The Indianapolis bank is owned by Indiana and Michigan financial institutions.