Rhamy resigns as CEO of Silver State Schools Credit Union

Dave Rhamy, president and chief executive officer of Silver State Schools Credit Union for 10 years, resigned from the financially struggling financial institution, sources said today.

Silver State board chairman Mitch Fox confirmed the report but said he could not comment immediately beyond a statement. The statement had not been received by deadline today.

Rhamy reportedly intends to return to the practice of law but didn't respond to a call for comment.

One credit union industry source said a temporary CEO has been hired to replace Rhamy. Attempts to reach George Burns, commissioner of the Financial Institutions Division, were unsuccessful this afternoon.

Silver State Schools is the largest credit union in Nevada in terms of its $883 million in assets. It has 80,000 members, including many school teachers.