ROCHESTER, N.Y. – Credit unions in two states have named new leadership in the wake of retirements or retirement announcements.
In New York, Faheem Masood, president and CEO of ESL Federal Credit Union, has announced plans to retire on April 1, 2026. The credit union has named Chief Operating Officer Tom Rogers to succeed Masood.
Masood began his career at ESL FCU in 1991 as a senior financial analyst and has been president and CEO since March 2016.
During his tenure, ESL FCU has grown from $5 billion to $9.8 billion in assets, from 700 to 1,000 employees, and from about 330,000 to 433,000 members.
According to ESL FCU, other milestones it has achieved during Masood’s term include the launch of ESL Trust Services LLC in 2017, the purchase of Cooper/Haims Advisors in 2019, almost half a billion dollars returned to the Greater Rochester community since 2017, and the opening of six new branches.
“ESL has been my professional home since 1991, and I have been consistently amazed by the exceptional work accomplished by my fellow employees throughout my time here,” Masood said in a statement.
New CEO at Landmark Credit Union
In Wisconsin, the $7-billion Landmark Credit Union has named Timothy Mackay as its president and chief executive officer effective Oct. 13.
Mackay succeeds Jay Magulski, who announced earlier this year he would be retiring.
Mackay joins Landmark from First Merchants Bank in Muncie, Ind., where he served as president of mortgage banking and bank operations. Prior to that, he was president of Level One Bank and Level One Bancorp in Michigan, leading the organization until its sale to First Merchants.
He also held previous senior leadership positions including executive vice president of consumer banking at Level One Bank and senior vice president – retail executive at Fifth Third Bank.
‘The Right Leader’
“We set out to find the right leader – someone who could drive growth, implement strategic change as needed, support and evolve the member experience and uphold the culture, mission and values that make Landmark Credit Union so special,” Chair Brian Dorow said in a statement. “We feel confident that Tim is the ideal candidate with the right style of leadership to fill the president and CEO role.”
According to the credit union, Mackay brings to the role three decades of financial industry experience and a track record of exceeding growth objectives, improving operational efficiencies, embracing emerging technologies and evolving products and services to stay at the forefront of the industry.
‘Truly Unique’
“Landmark is a truly unique organization, rooted in strong values, genuine care for its members and a deep commitment to the communities it serves,” Mackay said in a statement. “I am honored and excited to join the team and to build upon Landmark’s strong financial foundation and clear sense of purpose. My focus is on ensuring a smooth transition while continuing to empower dreams, strengthen relationships and embrace the credit union’s philosophy of people helping people.”
Three Decades at CU
Mackay succeeds Magulski, who has led Landmark Credit Union for the past 12 years as president and CEO, and been with the credit union for a total of 23 years.
“On behalf of the board, associates and members, we are sending a sincere thank you to Jay for his years of leadership,” Dorow said in a statement. “He will be remembered for his dedication to people and positioning Landmark for growth. We wish him all the best as he begins this new chapter.”
To ensure a smooth leadership transition, Magulski will stay on as a senior advisor until his retirement from Landmark on Dec. 31, the credit union said.
