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Who are the people responsible for making Allegacy a trusted resource for sound financial advice? They are an experienced group of professionals who know the industry, live in the area and have an immense amount of respect for the people they serve. Allegacy is led day-to-day by our executive management team. We also have a board of directors, comprised of volunteers with managerial and financial expertise, who provide guidance and strategic planning. Together, they bring you better ways to make smart financial choices.

Get to know the executive management team behind our credit union.

  • Cathy J. Pace
    Chief Executive Officer

    Cathy J. Pace is President and Chief Executive Officer of Allegacy Federal Credit Union, one of the largest credit unions in North Carolina, with over 600 member companies including the two largest medical organizations in the Southeast and three nationally prominent law firms.

    In her 35-year tenure at Allegacy, Cathy has held numerous positions of increasing responsibility and has led some of the Credit Unions most successful initiatives including the company's name change in 2001, brand audit study and credit card line of business evaluation that led to its sale. Cathy has been responsible for helping grow Allegacy's Investment Group and co-led the development of Allegacy's most recent long-range plan. Over the past three decades, she has played a critical role in Allegacy's growth from 17,000 members and nearly $50 million in assets in 1978 to 105,000 members and a $1.1 billion in assets today.

    Named "Marketer of the Year" by the Credit Union Executives Society, "Woman of the Year" by YMCA of Forsyth and a 2012 Women in Business honoree by the Business Journal, Cathy currently serves as the chairperson of the regional advisory group for Wake Forest Baptist Medical Center Comprehensive Cancer Center, and as a board member for Hospice Palliative Care of Winston-Salem, Co-operative Payroll Solutions, and WFBMC's Board of Visitors. She previously served as an advisory board member for the Sara Lee Center for Women's Health, Cancer Services Inc. and N.C. Triad Affiliate for Susan G. Komen.

    Cathy attended Salem College and is a graduate of Leadership Winston Salem. She is also a graduate of the Credit Union Executive Marketing Institute and Dale Carnegie Institute.

  • Cosby Davis
    EVP / Chief Finance Officer

    Cosby Davis is executive vice president and chief finance officer at Winston-Salem-based Allegacy Federal Credit Union, one of the largest credit unions in North Carolina, with over 650 member companies including the two largest medical organizations in the Southeast and three nationally prominent law firms. In this capacity, he is responsible for developing and implementing strategies for maintaining and enhancing the financial strength of the credit union. Responsibilities include enterprise risk management, deposit and product pricing, budgeting, forecasting, asset liability management, legal, and compliance as well as treasury operations.

    He joined Allegacy in May, 2011 as chief financial officer. Prior to that he served as President/CEO of Southern Health Services in Charlottesville, VA and Carelink Health Plans based in Charleston, WV.

    Davis earned his MBA from the Babcock Graduate School of Management at Wake Forest University and his two undergraduate degrees from Southern College in Tennessee. He completed executive education training at the Kellogg Graduate School of Management at Northwestern University and The Wharton School at the University of Pennsylvania.

    Davis has a certified enterprise risk management designation from CUNA and completed the University of Virginia Darden/SNL Executive program in Bank Financial Leadership.

  • Steve Franke
    Program Manager for Allegacy Investment Group

    Steve Franke serves as Program Manager for Allegacy Investment Group*. He is responsible for management and strategic planning of the financial planning and investment programs for members, to supervise licensed and administrative staff, coordinate all compliance and regulatory procedures including advertising and licensing, plan and administer the annual budget, marketing and business plan.

    Franke joined Allegacy in 2013 and is a member of the executive management team. Previously, he was President of Franke Professional Services Incorporated and offered financial management oversight for financial planning programs at twelve credit unions and/or banks, including Allegacy Federal Credit Union. During that time he was awarded Program Manager of the Year 2008 by Bank Investment Consultant Magazine and in 2012 was awarded Honorable Mention for Program Manager of the Year by the same publication for his work with Allegacy.

    Franke earned an Associate's Degree from Mount Aloysius College in Pennsylvania and a Bachelor's Degree in Accounting from Shepherd University in Shepherdstown, West Virginia. He is a Certified Financial Planner™ with Series 6, 7, 65, and 24 securities licenses through Allegacy's broker-dealer, CUSO Financial Services, L.P.

  • Annette Knight, SPHR®
    Chief Experience Officer

    Annette Knight is Chief Experience Officer at Allegacy Federal Credit Union, one of the largest credit unions in North Carolina. At Allegacy, she is responsible for the credit union's overall experience for employees and members. She oversees Organizational Development, Human Resources, Learning and Performance, Marketing, Facility Operations, IT and Project Management. Knight is a member of the executive management team and assists with planning, executing, and achieving strategic goals and initiatives.

    Knight joined Allegacy in 2013 and has 30 years of financial services experience. She spent most of her career in human resources serving in various capacities for North Carolina based financial organizations.

    She has experience in the entire human resource function including recruitment, benefits administration, payroll, training and development, employee relations, strategic and budget planning.

    She earned a Bachelor of Science degree in business management from High Point University and a Senior Professional in Human Resources (SPHR®) certification from the Human Resources Certification Institute. She is also a local and national member of Society of Human Resource Management (SHRM) from where she earned the SHRM Senior Certified Professional (SHRM-SCP). Knight completed executive leadership training through CCG in Greensboro and Wharton in Pennsylvania.

  • Ashley Kohlrus
    Chief Operations Officer

    Ashley Kohlrus is Chief Operations Officer at Winston-Salem-based Allegacy Federal Credit Union, one of the largest credit unions in North Carolina, with over 650 member companies including the two largest medical organizations in the Southeast and three nationally prominent law firms. In this role, she is responsible for Retail Banking Operations, Business Development, and also the enhancement of member experience and strategic planning.

    She has been with Allegacy since 2004 and most recently served as Chief Experience Officer (CXO).

    Kohlrus is active in the Winston-Salem community where she serves on the Komen Northwest North Carolina Board of Directors, the Center for Smart Financial Choices Board of Directors, Allegacy Benefit Solutions Board of Directors, and is the Credit Union Executives Society Carolinas Council Chair. She is also a 2010 recipient of the YWCA "Women of Vision" award and the 2012 Credit Union Executive Society (CUES) Next Top Credit Union Executive.

    She received her undergraduate degree in Speech Communications from East Tennessee State University and her master's degree in Leadership and Organizational Change from Pfeiffer University. She also received certifications as a Society of Human Resources Management Senior Certified Professional and in Global Customer Experience Management.

  • Brian Vannoy
    Chief Credit Risk Officer

    Brian Vannoy is Chief Credit Risk Officer at Allegacy Federal Credit Union, one of the largest credit unions in North Carolina. At Allegacy, Vannoy is responsible for the management, strategic planning, compliance, safety and soundness of the credit union’s $860 million dollar loan portfolio, which includes both retail and commercial. He oversees operations for credit administration, retail lending, and commercial activities.

    He joined Allegacy in July, 2015 with 23 years of financial experience, specializing in retail and commercial credit.

    Vannoy graduated Summa Cum Laude from Marietta College in Ohio with a Bachelor of the Arts in economics and finance, where he was also a McDonough Scholar. He is a 2009 graduate of Leadership Winston-Salem and also earned the prestigious Credit Risk Certification (CRC).

Board of Directors
Meet the volunteers who provide insights, expertise and guidance.

  • Thomas R. Adams
  • Tracey Beck
  • Jeff Blair
  • Simpson O. Brown, Jr.
  • Jacque Daniels
  • Bob Fly
  • Holli Gall
  • Ann A. Johnston
  • Ben King
  • Larry McGee
  • Henry Russ
  • Borgia Walker


*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Allegacy Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

Allegacy is federally insured by NCUA and is an Equal Housing Lender. © 2017 Allegacy Federal Credit Union
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