WASHINGTON–Marsha King, the president and CEO of Library of Congress FCU has announced plans to retire effective Sept. 1. The credit union has announced a search for a replacement.
During her 32-year career, King oversaw growth to $300 million in assets from $32 million, and“introduced many innovative products and services embraced by their members such as online banking, a content-rich website, and remote deposit,” the credit union said.
In a statement, King attributed her success to her team’s “absolute commitment to providing personalized service to our members.”
Named Professional of the Year
In 2017 the Maryland/DC Credit Union Association named King as its Professional of Year in recognition of her success at “making Library of Congress FCU one of the region’s strongest credit unions, and for her numerous contributions as a leader in the Washington area credit union movement.”
Gary Mandelkorn will serve as interim president/CEO while the board completes a search for King’s replacement. Mandelkorn has worked alongside King as vice president of operations for 26 years.
“It has been my honor and pleasure to guide Library of Congress Federal Credit Union with the support of our dedicated employees as we helped our member/owners achieve financial success,” King said. “The credit union industry is a testament to the value of offering affordable financial services designed to support the success of our members.”
Other Roles
In addition to her years with Library of Congress FCU and US Postal Service FCU, King has served the credit union community for more than 50 years.
King advanced to executive vice president and interim president with U.S. Postal Service FCU, served as president of the D.C. League and on the first advisory board of the Credit Union Executive Society.
She served on Maryland and DC Credit Union Association board for many years as DC Chapter Association director and as treasurer and secretary.