MONTVALE, N.J. – Paragon FCU CEO Richard Rays announced he will be retiring at the end of this year, after 16 years of service at the $400-million CU.
During his tenure at Paragon, Rays helped develop Tellagent, LLC, a company providing high-tech ATMs, Paragon Services, LLC, an online loan participation exchange, and Memberville, LLC, a social networking portal for credit unions.
Rays has held a number of different positions within the credit union industry, including CEO of Sandia Laboratory FCU, Albuquerque, N.M., where he also served as chairman of the New Mexico Credit Union League, and EVP at Eastern Financial in Miami.
Outside of credit unions, Rays held finance positions at Hughes Tool Company and Electro-Gas Dynamics, Inc., and also served in the New Jersey Air National Guard and the U.S. Air Force.
