NEW YORK–Municipal Credit Union has named a new CEO. The $2.9-billion MCU said it has selected Mark A. Ricca to lead the organization.
Ricca was previously president and CEO of First American International Bank.
Municipal Credit Union had been operating with an interim CEO since firing Kam Wong, who has been charged with embezzling more than $3 million from the credit union by the U.S. Attorney’s Office for the Southern District of New York. According to prosecutors, Wong, 62, allegedly used the money to buy New York State lottery tickets. More on that story can be found here.
“Municipal Credit Union provides a vital service to its members, offering competitive and affordable financial services products,” said Ricca. “My focus will be providing our members across New York City excellent customer service and competitive financial products that help our members have financial opportunity and security.”
Prior to his position with First American International Bank, Ricca held a series of leadership roles at other community banks, including CFO and chief administrative officer at Carver Bancorp; EVP and general counsel at New York Community Bank, and senior vice president and general counsel at CFS Bank.
Municipal Credit Union said former acting president/CEO Norman Kohan will remain with the credit union as chief credit officer.