Martin Breland will retire as president and CEO of Tower Federal Credit Union, Laurel, Md., on June 30, the credit union said Friday.
Breland has been at Tower for 28 years, 22 of them as president and CEO. The CU said Breland led Tower through a period of “sustained growth” to become the largest federal credit union in Maryland, with almost 160,000 members and $3 billion in assets. During this period of growth Tower reportedly built significant financial strength, increasing its net worth from $50 million to $328.9 million.
Breland is just the second CEO in Tower FCU’s history, which dates back to 1953.
Rick Stafford, currently executive vice president of member services at Tower, will assume the role of president and CEO on July 1.
During Breland’s tenure, Tower said it has been recognized by independent consumer, research and trade organizations as a leader nationally in the depth, breadth and loyalty of its member relationships, as well as for providing high-quality service.
Breland credited Tower’s board, management team and employees for the successes during his tenure. “Accomplishing all Tower has over the years has been a great team effort, with so many contributors,” he said. “I feel incredibly fortunate to have worked with such a tremendous group of people.”
In addition to his dedication to Tower, Breland has been an ardent supporter of expanding the role and impact of credit unions as member-owned financial co-operatives. His professional affiliations include leading, chairing or serving on the boards of multiple credit union organizations. He has spoken about industry trends and issues at numerous seminars, schools and conferences over the years.
Breland said of his successor: “Rick is a seasoned financial services leader with 28 years of extensive experience in community based financial institutions. He is a champion of our culture and will carry forward the mission and core values of Tower and the credit union community. I am confident that Rick, the rest of our management team, our exceptional employees and our board will successfully guide Tower in the future by taking advantage of opportunities that lie ahead to better meet our members’ needs and adeptly navigating any challenges that may arise. ”
“I am honored to follow Martin Breland in assuming the leadership of Tower as we start the next chapter of the credit union’s prestigious history,” Stafford said. “We look forward to continuing to provide extraordinary member service, financial security, innovative products and value to our members.”
Tower Federal Credit Union was established in 1953 and today is the largest federal credit union in Maryland. It serves more than 155,000 members worldwide. Tower serves its local-area members with 12 branches in Anne Arundel, Baltimore, Howard and Prince George’s counties, and four branches at Fort Meade, as well as online services and mobile banking at towerfcu.org.
