NEW BEDFORD, Mass.–New Bedford Credit Union has named a new president and CEO. The $140.6-million CU has named Berta Varao to lead the organization and to succeed David Borges, who is retiring at the end of January.
Varao has more than 34 years of credit union experience, including the past 11 with NBCU, and the last eight as EVP and CFO.
“I am very excited and honored to be promoted to president and CEO,” said Varao, as first reported by the Cooperative Credit Union Association. “I look forward to building on NBCU’s foundation of financial strength and exceptional member service, and leading the credit union to continued success and growth.”
Before joining NBCU, Varao was a senior consultant at Buckley Technology Group for three years assisting credit unions and banks with regulatory compliance, disaster recovery, vendor management and information security. She also just spent 20 years with Fall River Municipal Credit Union as VP-operations and information technology.
Borges Recognized for Contributions
Meanwhile, the CU’s board chair recognized Borges for his career at the credit union of more than 40 years.
“The local community has benefited from David’s financial expertise and commitment to the credit union,” said Chairman James W. Allen. “On behalf of the board, senior management, and the entire staff, it has been a privilege to have worked with David, and we are enormously grateful for his hard work and dedication over the past 40 years.”
Added Borges, “It has been my great honor and privilege to have been part of the NBCU organization for 40 years. I am proud of the credit union we are today and the impact we have had in the financial wellbeing of our members and their families. NBCU today represents the collective efforts of a dedicated board of directors and a remarkably talented and innovative staff who have inspired all to think creatively and explore new products and services to meet the needs of our members. I am very excited about the future of NBCU.”
New Bedford Credit Union has approximately 10,355 members.