State Employees' Credit Union in Raleigh, N.C. has announced that Michael Lord will succeed longtime CEO Jim Blaine as president and CEO of the $33 billion CU.
In May, SECU
As it turned out, the search took slightly less than three months because Lord was right down the hall from Blaine. Lord has been an employee of SECU for 41 years and has been the chief financial officer of SECU since 1986. His experience includes serving members as a loan officer in Raleigh and Fayetteville and as a branch manager in Elizabeth City.
Lord will take the helm on Sept. 1.
Cynthia Jolly, chair of SECU's board of directors, said Lord's experience, leadership and participation in providing services to members over many years of dramatic growth led to him being chosen.
"Mike has been involved at a senior leadership level over many years of change and rapid growth at SECU," Jolly said in a statement. "The board is excited to have him as our next CEO. His experience combines the knowledge of where we have been with where we want to be in the future in meeting our members' financial needs."
SECU said Lord provided leadership for the credit union during a period of "dynamic changes" in the financial landscape. He currently serves as an officer of the SECU affiliated companies, which include a broker/dealer, a registered representative holding company, a property-management company and a life insurance company.
According to Blaine, "Mike is a strong leader with institutional experience and future vision, and we are fortunate to have him lead SECU during this next phase in our organization."
"I am honored that the board has selected me to continue the important work of serving our members," said Lord. "We will continue helping members improve their lives by serving as the trusted provider of financial services at fair and reasonable rates and terms."
Lord is a graduate of N.C. State University and is a Certified Public Accountant. His community service activities have included participation in Community Workforce Solutions, Raleigh Host Lions Club, United Way, Habitat for Humanity and the Jaycees. He has served on many credit union-related committees and boards. He and his wife, Jo Conroy, have lived in Raleigh since 1982.
SECU is the second-largest credit union in the United States. In April it re-affiliated with the Credit Union National Association (CUNA), citing the organization's "new vision" and "new direction." SECU had disaffiliated from CUNA and the Carolinas CU League on Jan. 31, 2014.
