HADLEY, Mass.–Two credit unions in the Northeast have named new leadership.
In Massachussetts, as part of a planned leadership transition, UMassFive Credit Union has named a president and CEO to succeed the retiring Richard Kump, who will be exiting following a career of more than 40 years in credit unions.
The $712.4–million UMassFive said it has selected Lauren Duffy, who currently serves as EVP and COO, to lead the organization effective June 1. Kump will continue to support UMassFive as a senior advisor to Duffy through the end of 2026, the credit union said.
“On behalf of everyone at CCUA, I want to congratulate both Lauren and Rich on this exciting leadership transition at UMassFive. Lauren’s vision, dedication, and deep commitment to members have been evident throughout her career, and she is exceptionally well positioned to lead the credit union into its next chapter,” Ron McLean, president/CEO of the Cooperative Credit Union Association,said in a statement. “Rich’s leadership and lasting impact on UMassFive have helped shape a strong foundation for continued success. We wish them both all the best during this transition and look forward to seeing UMassFive continue to thrive under their leadership.”
New President Named in Maine
In Freeport, Maine, Midcoast Federal Credit Union has selected Christina M. Carter as president, as part of a sucession plan for the retiring Joseph R. Gervais, who plans to step down in mid-2027 as CEO, after which Carter will also assume that title.
According to the $267-million Midcoast FCU, Carter brings more than 25 years of credit union leadership experience and has served Midcoast FCU in senior executive roles since 2018. The credit union said she is widely recognized for her operational expertise, collaborative leadership style, and commitment to cooperative values.
“This transition is deliberate, well-structured, and focused on continuity,” Gervais said in a statement. “It provides stability for our members and our employees, while ensuring strong leadership well into the future.”
Added Carter in a statement, “I’m honored by the Board’s trust and grateful for the opportunity to step into this role. Joe has built a strong, values-driven foundation, and I look forward to building on that legacy as we continue to serve our members, support our employees, and strengthen our communities.”
Retiring CEO Honored
Midcoast said Gervais has more than 30 years of credit union experience, including over a decade as president & CEO of Midcoast FCU. Since 2013, he has guided the organization through growth, technological advancement, and increasing regulatory complexity while maintaining a strong focus on member service and community impact.
“Joe’s leadership has positioned Midcoast FCU for long-term stability and success,” Chair Rick Hart said in a statement. “This transition builds on that foundation while preparing the organization for its next chapter.”
Below, from left, Christina Carter and Joseph Gervais.
