Joseph Garay will retire as president and CEO of Ocean Financial Federal Credit Union in Oceanside, N.Y.
The $305 million-asset institution said on Tuesday that it has retained D. Hilton Associates, a credit union consulting and recruitment firm, to identify Garay’s successor.
“We would like to thank Joe for all he has done for our credit union and our community over the past 27 years,” Donald Maresca, chairman of Ocean Financial, said in a statement.
Oceanside Financial noted that Garay’s father founded the credit union in 1969, handing off the reins to his son in 1991.
“I was lucky enough to grow up in the credit union and be given an incredible opportunity to have a deeply rewarding career helping people with their financial needs,” stated Garay.
Ocean Financial posted net income of $915,183 in the first nine months of 2018, compared with a loss of $109,826 for the same period of 2017.
