SLEEPY EYE, Minn. — SouthPoint Financial Credit Union has announced the retirement of its CEO and the appointment of a successor.
The $358-million Southpoint Financial said CEO Richard “Dick” Nesvold plans to retire and will be succeeded by VP-Retail Services Jay Gostonczik, who is being promoted to executive vice president as part of the transition plan.
Nesvold, who has been with SouthPoint since 1989 and CEO since 1996, will be involved with Gostonczik and the leadership team in support of the transition, the credit union said.
Southpoint Financial noted Nesvold has had a distinguished credit union career. In 2012, the World Council of Credit Unions (WOCCU) inducted him into its International Executive Volunteer Corps (IEVC) for his work on the CENCOPAN (Paraguay) initiative. He is a former board chair of the Minnesota Credit Union Network, was the Minnesota Credit Union Network Professional of the Year in 2012. Nesvold currently represents Minnesota credit unions as a member of the Cooperative Network Board of Directors and most recently was inducted in the Credit Union House Hall of Leaders in Washington,
‘Pleased’ With Selection
“I am pleased our board has selected Jay to continue to build on SouthPoint’s success in strategic and innovative ways,” Nesvold said in a statement. “As a member of SouthPoint’s leadership team for the past six years and with over 20 years of credit union experience, Jay believes in putting our member-owners, employees and communities first. I am confident that his leadership will keep SouthPoint on a trajectory of steady growth, while continuing to maintain the credit union’s safety and soundness far into the future.”
As part of the cooperative’s transition plan, Gostonczik will first serve as Executive Vice President, assuming day-to-day operations, then transition to president and CEO upon Nesvold’s retirement in the first quarter of 2020, the credit union said.
In CUs Since 1999
Gostonczik has been with SouthPoint since 2013 and has held prior management positions with other credit unions since 1999. Southpoint Financial said he has been instrumental in the expansion of mortgage and indirect lending, as well as the vision behind the retail member experience in SouthPoint’s six branches and call center.
“Dick deserves credit for growing the organization to provide exceptional value back to member-owners,” Gostonczik said. “SouthPoint’s organizational accomplishments, particularly expanding products and services and a member service focused culture, have developed during his tenure. He is highly regarded nationally within the credit union industry and I am humbled and honored to be afforded this opportunity. I look forward to serving SouthPoint’s members, employees and board of directors as we carry out our mission to improve our members’ financial lives.”