U.S. Credit Union CEO Steps Down After Posting 'Lake America' Photo

[Financial News]  

The CEO of U.S. credit union Family First was ultimately replaced after posting a photo on social media of a shirt labeled "Lake America" rather than "Lake Ontario," sparking controversy. It is not known whether the CEO resigned voluntarily or was fired.
According to CNBC on the 25th (local time), Family First said in a statement posted on its website on the 23rd that its chief operating officer, Jason Acosta, would serve as interim CEO in place of Jane Smith. The statement emphasized that Smith had left the company immediately.
Family First did not directly disclose the reason for the CEO change. However, in a statement the following day, it said, "We sincerely apologize for causing concern, disappointment and hurt to our members and the local community."
Family First is headquartered in Michigan, which shares a border with Canada.
Earlier, Smith posted a photo on Facebook on the 11th with the caption, "Do you like our shirts? Canada probably won't like them. Haha." The shirt in the photo bore the name "Lake America," the name given to the lake by President Donald Trump.
Earlier, President Donald Trump signed an executive order last month changing the lake's name, drawing strong opposition from Canadians, including Prime Minister Mark Carney.
In an interview with Michigan's WJRT-TV on the 17th, Smith said, "I wasn't trying to make a political statement," but added, "I just posted it because I thought it was funny that the name of one of the Great Lakes had been changed." Before that, however, the company had told the broadcaster that it "clearly opposes and does not condone" the content of the social media post associated with CEO Smith.

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