PARSIPPANY, N.Y.–Lou Vetere, president and CEO of Garden Savings FCU, has announced his retirement effective at year-end.
As his successor, the $425-million credit union has selected its current chief sales office and VP of marketing and lending, Michael Powers, to lead the organization effective Jan. 1, 2023.
Vetere has served as president/CEO of Garden Savings FCU since 2005 and has overseen asset growth from $135 million.
“It has been an honor and a privilege to lead this wonderful team as we helped our members achieve their financial dreams” stated Vetere. “I have been fortunate to be supported by a professional board, excellent executive team and an amazing staff my entire career which have all helped propel Garden Savings to a high level of success.” Vetere will be continuing with the credit union in a Board of Directors capacity.
The CEO in waiting, Powers, is a 29-year veteran of credit unions who spent the first 16 years of his career at Pinnacle Federal Credit Union of Edison, N.J., before moving to Garden Savings just over 13 years ago.
‘Honor to be Chosen’
“It is an honor to be chosen as the next president and CEO of Garden Savings Federal Credit Union,” Powers said. “Lou Vetere’s legacy here is outstanding and I look forward to continuing to build upon that legacy while insuring that Garden Savings is well positioned for future growth and success.”
As part of the management changes, the credit unions said current VP/CFO Lynn Dockrill is being promoted to executive vice president. Dockrill has served as the CFO at the credit union for a decade after previously serving on its board for seven years, and brings experience from the private sector via her previous employer.
The Very Best in CU Reporting. For You. For Free
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.