WASHINGTON, N.H.—Peter Kavalauskas, CEO of Northeast Credit Union, was killed Saturday when he lost control of his snowmobile and crashed it into the shoreline at the north end of Millen Lake here.
According to a published report, the CEO, 62, was riding with his son and a friend near Camp Morgan Lodge at approximately 1 a.m. Kavalauskas was pronounced dead at the scene.
The CEO had just announced he would retire from the Portsmouth, N.H.-based credit union when a search committee names a replacement.
Kavalauskas led the CU for nearly 30 years. He joined Northeast in 1978 as the assistant general manager, was promoted to general manager in 1984 and was named president and CEO the following year.
Under his direction, the credit union expanded from three branches in southern New Hampshire to 15 throughout the state, and assets have grown from $102 million in 1985 to over $957 million today.
