PORTSMOUTH, N.H.–New CEOs have been named by four credit unions.
The $3.4-billion Service Credit Union has named a new CEO. The credit union has selected David Araujo to lead the organization. Araujo most recently served as SVP and chief technology and innovation officer at Digital Credit Union in Massachusetts, and has more than 20 years’ experience in financial services.
In a statement, the credit union said Araujo brings a rare combination of business acumen and technological expertise. “Having run the operations at DCU, he has a passion for building and sustaining organizational culture focused on delivering an outstanding member experience,” the credit union said.
"I am incredibly excited to assume this new role and for the future of the credit union," said Araujo. "We have an exceptionally talented team at Service Credit Union that is focused on taking decisive actions to transform the business, continuing to innovate our products in new and diverse ways, and unlocking future growth opportunities."
Araujo, who is a Marine Corp veteran, is scheduled to join Service CU in January.
As CUToday.info earlier reported here, Service Credit Union remains in litigation with its former CEO, Gordon Simmons, who led the CU for 21 years and resigned in January of 2016 after admitting to a sexual relationship with his administrative assistant.
Liberty Bay Selects Matteson
In Braintree, Mass., Liberty Bay Credit Union has selected a new leader to replace its current CEO when he retires in 2019. The $690-million Liberty Bay has selected Lyndon Matteson as its president, with Matteson then also adding the CEO title when current CEO Edward Lopes retires in late 2019.
In his new role, Matteson, who is new to credit unions, will immediately assume all day-to-day operational responsibility for the credit union and gradually assume additional strategic, legislative and governance roles, the credit union said.
“I have now met the entire board of directors, most of the staff and several credit union members. The sense of family at Liberty Bay is exceptional,” Matteson said in a statement. “It will be a great privilege to serve as president. I also look forward to building on Ed’s legacy when the time comes.”
Matteson previously held executive positions at Upstate National Bank, Cobblestone Financial Group, Inc., Citizens Bank/Charter One Bank and Key Bank.
“Lyn brings 30 years of banking experience to his new position,” Lopes said in a statement. “He has a deep background in retail as well as business banking. He is a strong advocate for community involvement and financial literacy, both of which we believe are competitive differentiators.”
Liberty Bay Credit Union has nearly 27,000 members.
Asciolla to Lead Argent CU
Meanwhile, in Esterfield, Va., the $241-million Argent Credit Union has selected Jamie Asciolla as its new president and CEO. Asciolla is to succeed Rose Baggerly who is retiring in early 2019.
Asciiolla, who has more than 20 years’ experience in credit unions, was most recently COO at the $688-million 1st Advantage Credit Union in Virginia.
New Leader at Democracy FCU
Also naming a new leader: Democracy FCU in Alexandria, Va. The $149-million DFCU has selected Ken Cahoon as its new CEO, succeeding Kathleen Geary.
Cahoon most recently was VP-retail delivery at the $614-million national Institutes of Health FCU in Maryland, and has also held management positions with Unify Financial CU in California, American Spirit FCU in New Jersey, and Justice Federal Credit Union in Chantilly, Va.
Democracy FCU has nearly 15,000 members.