Banking

Truliant finds new CFO close to home

The former chief financial officer at Winston-Salem, N.C.-based Allegacy Federal Credit Union has moved to Truliant FCU, where he will hold the same position.

Truliant announced Friday that Cosby Davis III had moved over from Allegacy. He will report to Todd Hall, the credit union’s president and CEO, and guide Truliant’s chief planning team, as well as lead financial administration, accounting and budgeting initiatives, and other areas.

Davis has spent over two decades in the financial services sector, according to a press release, including the last nine years as executive vice president and CFO at Allegacy. He is also a member of the VIZO Corporate Credit Union’s enterprise risk committee.

At $3.2 billion of assets, Truliant is North Carolina’s third-largest credit union, while Allegacy is its fifth-largest, with nearly $1.8 billion in assets.

“Cosby has a deep understanding of our market areas and an accomplished career leading member-centric initiatives in the finance space,” Hall said in the press release. “His experience steering high-quality financial and accounting teams will play an important role in the next chapter of Truliant’s growth.”

Call report data from the National Credit Union Administration shows Truliant earned $21.6 million during the first three quarters of last year, the most recent data available, compared to $17.5 million during the same period of 2019.


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