State Employees’ Credit Union Selects Russell Reynolds Associates to Find New CEO

February 23, 2021 – These are critical days for credit unions with leadership development, succession planning and employee retention becoming more important than ever. Russell Reynolds Associates was recently called in by State Employees’ Credit Union in North Carolina to lead its search for a new CEO. CEO Michael J. Lord is retiring effective Aug. 31 and will remain in his current role through the transition period to his successor. “Mike has been an integral part of the State Employees’ Credit Union leadership and family for nearly five decades,” said Bob Brinson, chairman of the board of director for State Employees’ Credit Union. “We are extremely grateful to Mike for his leadership and commitment, particularly throughout the COVID-19 pandemic, and wish him the best in his much-deserved retirement.”

“The board of directors’ CEO succession plan has us well positioned to find the right candidate who will understand and value the State Employees’ Credit Union culture of member-service and smoothly guide us through this transition and into the future,” said Mr. Brinson. “We look forward to the next chapter in the long history of State Employees’ Credit Union growth and success.” The credit union expects to have the new CEO in place at the time of Mr. Lord’s retirement.

State Employees’ Credit Union is a not-for-profit financial cooperative founded in 1937 that serves North Carolina state and public-school employees, retirees and their immediate families. It provides services to over 2.5 million members, has 7,200 employees and 3,200 advisory board and member loan review committee volunteers. With $47 billion in assets, State Employees’ Credit Union is the second largest credit union in the U.S. and the largest in North Carolina.

Russell Reynolds’ consumer and commercial practice works with consumer and corporate banks, credit card companies, mortgage companies, credit unions, peer-to-peer lenders, payments providers and other consumer and commercial finance organizations and their financial technology partners to recruit, develop and advise leaders. Robert Voth and Jane Bird co-lead the practice.

Turning to Search Firms to Find Talent

Credit unions have been coming to executive search firms in droves to fill senior leadership roles. Here are a few recent assignments found in the Hunt Scanlon Media archives.

CarterBaldwin Executive Search has assisted Christian Community Credit Union in the recruitment of Aaron Caid as chief marketing officer of this mission-driven credit union. “We are excited to have Aaron Caid join the Christian Community Credit Union family,” said Blair Korschun, CEO of the financial institution. “Aaron is a man of faith with vast experience in leading marketing and analytics for companies with millions of customers and accounts. He has chosen to use his talents to help us grow the credit union and to help us better serve our members.”

Major, Lindsey & Africa (MLA) has placed Rod Boddie as general counsel for Congressional Federal Credit Union in Oakton, VA. The assignment was led by Deborah Ben-Canaan, partner and senior practice leader; Christie Babinski, director; and Kimberly Hulsey, director, of MLA’s in-house counsel recruiting group in Washington, D.C. For over 65 years, Congressional Federal Credit Union has grown into a full-service financial institution with more than $1 billion in assets and 47,000 members across the country and around the world.

Providence, RI-headquartered KLR Executive Search Group has assisted Harvard University Employees Credit Union (HUECU) in the recruitment of Craig Leonard as its new president and CEO. Gene Foley, who has been with the credit union for four decades and led it for 25 years, is retiring in July. Partner Susan Pardus led the assignment for the recruitment firm. Founded in 1939, Harvard University Employees Credit Union is an $800 million credit union serving over 51,000 members from Harvard University and affiliated organizations.