Think Federal leader moves to Wisconsin

By Bob Freund

MADISON, Wis. -- Paul Kundert, chief operating officer for Think Federal Credit Union since 1998, has left the Rochester-based institution to lead the staff of a Wisconsin credit union.

Kundert, 39, was named president and chief executive officer last month for the University of Wisconsin Credit Union. The institution is the state's second-largest credit union, with 90,000 members and nine locations.

Paul Mackin has succeeded Kundert as president and chief operating officer at the local Think Federal Credit Union, which was known as IBM Mid America Employees Federal Credit Union until earlier this year.


Kundert worked as an accountant for McGladrey &; Pullen in Rochester before taking a position as internal auditor at Think. He climbed the ladder at the credit union through branch management into headquarters. While handling daily operations as chief operating officer, he was promoted from senior vice president of member services through executive vice president to president in 2001, working with top-ranking chief executive officer Paul Horgen.

Kundert, a Winona State University graduate, holds a master of business administration degree from the University of St. Thomas in St. Paul, Minn.

"Paul Kundert brings to us solid financial management and analytical experience and excellent strategic planning ability and vision," said UW Credit Union chairwoman Ann Hoyt.

The credit union, based in Madison, Wis., holds close to $700 million in assets. That is less than Think's $1.1 billion, but the Wisconsin institution has about 4,000 more members, according to its announcement.

UW Credit operates six offices in Madison as well as branches in Milwaukee, Green Bay and Whitewater, all in Wisconsin.

Officials at Think did not respond to requests for comment this week.

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