Mike Barton, president of the NCUA Asset Management and Assistance Center for the past 17 years, has announced he will retire at the end of September.
NCUA Region IV Director C. Keith Morton will assume Barton’s responsibilities for the immediate future, the agency announced.
“Mike Barton has held an important post in the agency during some of the most difficult days we have ever experienced, including overseeing the management of assets from the five failed corporate credit unions,” NCUA Board Chairman Rick Metsger said.
He said the NCUA has relied on Barton and his staff to ensure that the agency obtains the best asset recoveries and that credit unions receive timely payments from the Share Insurance Fund.
Barton joined the NCUA in 1990, as AMAC’s director of asset recovery. He served as deputy to then-AMAC President Leonard Skiles in 1993 and as acting president from 1997 to 1998. Before joining the NCUA, Barton was executive vice president of Sandia Federal Savings and Loan in Albuquerque, N.M.
He served in the U.S. Army and received a Bronze Star and a Purple Heart after being wounded in Vietnam.
Earlier this year, the NCUA Office of Inspector General released a self-initiated audit of the AMAC, which said that the AMAC’s reconciliation efforts with the Department of Justice puts the NCUA at risk for not collecting restitution payments in full.
