Northrop Grumman Federal Credit Union in Gardena, California, named Mark Rabinowitz as its next president and CEO, effective April 1.
Rabinowitz was formerly executive vice president and chief administrative officer for the $1.5 billion-asset credit union.
He replaces Matthew Herbert, who stepped down from the position March 31, after serving in the role since April 2016, the company said in a press release Monday.
"Mark's election as our incoming president and CEO enables a seamless transition for this important leadership position for our organization," said Heather Crofford, board chairperson, in the press release.
Rabinowitz joined NGFCU in 2016 and also previously served on the credit union's board of directors for nine years. Prior to joining the credit union, Rabinowitz held executive roles for Northrop Grumman Corporation, where he retired as corporate vice president and treasurer.
NGFCU was established in 1946 to serve Northrop Aircraft Corporation employees. Today it serves employees of Northrop Grumman Corporation, as well as employees from the Los Angeles Metropolitan Transit Authority and Metrolink.
Northrop Grumman FCU earned $5.5 million in 2022, a 10% decrease compared with a year earlier, according to call report data from the National Credit Union Administration.
