Leadership Changes at American Share Insurance: CEO Retirement and Future Vision

In a significant organizational shift, American Share Insurance (ASI) has officially announced a planned leadership transition alongside a comprehensive succession strategy. This move aims to solidify ASI's commitment to strategic growth and innovation within the evolving landscape of the credit union industry. The announcement comes as the current CEO, Theresa Mason, prepares to retire in the spring of 2027 after a remarkable tenure.

The Board of Directors at ASI has unanimously selected Kurt Loose, who is currently serving as Senior Vice President and Chief Operations Officer, as the President and CEO Elect. Loose, a seasoned executive with a rich history at ASI, has been with the organization since 1998, assuming various leadership roles that have significantly contributed to its operational success. He will take on his new responsibilities officially on April 15, 2027.

Theresa Mason's leadership has been marked by tremendous progress for ASI. Under her guidance, the organization has developed a robust reputation for promoting strategic growth, diversifying revenue streams, and ensuring financial stability—especially crucial given the rising interest in private deposit insurance among credit unions. James Miles, Chairman of the Board, emphasized the profound impact Mason has had, stating, "We are incredibly proud of what has been accomplished under Theresa's leadership. ASI has gained strong momentum...to meet the evolving needs of credit unions and their members."

Kurt Loose's extensive involvement within the credit union community is well-documented. As a respected advocate, he has collaborated with industry leaders, legislative bodies, and credit union leagues to formulate initiatives that bolster the credit union movement. His work with the Advisory Council and the Board has been instrumental in guiding ASI's strategic direction. During his nearly three decades with the firm, Loose has not only showcased professional excellence but has also demonstrated a passionate commitment to community service.

Loose holds an MBA from Capital University and a Bachelor of Science degree from Bowling Green State University. Notably, he has also dedicated 18 years to serving on the Nationwide Children's Hospital Development Board, further highlighting his commitment to community and service-oriented endeavors.

With his impending appointment as President and CEO, Loose is prepared to continue the mission of ASI, which is to protect and empower credit unions in achieving their distinct goals. During the transition period ahead, he will closely collaborate with Mason to ensure a seamless leadership change.

"ASI has an incredible history, a solid foundation, and a significant role to play in the future of the credit union movement. I am honored by the confidence the Board has placed in me," stated Loose, expressing his enthusiasm for the role. He looks forward to working alongside the Board, employees, partners, and the credit unions ASI serves.

American Share Insurance is a member-owned share guaranty corporation, providing insurance coverage up to $250,000 for individual members of insured credit unions. Licensed by the Ohio Department of Insurance and dual-regulated by the Ohio Departments of Insurance and Commerce, ASI's initiatives promote financial security and confidence within credit unions. As they navigate this leadership change, ASI aims to maintain its trajectory towards providing exceptional service in the credit union sector, ensuring ongoing support for both the organizations and their memberships.