The first woman to be chief executive of NorState Federal Credit Union in Madawska, Maine, is retiring.
Susan Whitehead will step down from the $240 million-NorState after a nearly 10-year stint as CEO, the company said.
"Sue's time in service to our credit union has brought a wealth of institutional knowledge and has been a key component in my ability to serve the CU well. I wish her a relaxing and restful future," NorState Chairman Leigh Smith said in a press release.
Whitehead joined the credit union in April 1988 as a utility clerk. She was promoted to CEO in 2013 after
"In my 34 years of service to NorState FCU, I have been honored to work with many devoted and dedicated financial professionals throughout the state and within our organization. It has been a journey of learning, development and member service that I will forever cherish," Whitehead said in the release.
The company did not say when a replacement might be named.
Norstate earned $1.3 million in the first nine months of 2022, a 43% decrease from a year earlier, according to call report data from the National Credit Union Administration.
