Suffolk Federal Credit Union names first-ever female CEO

Michele Dean has been named the next president and CEO of Suffolk Federal Credit Union in Medford, N.Y., the first time in the credit union’s 52-year history a woman has held that role.

Dean, who will take the helm on June 15, succeeds retiring CEO Ralph D. Spencer, Jr., who has led the credit union since early 2017.

“I am honored to be joining Suffolk Federal and appreciate the board of directors’ confidence in me to lead this dynamic organization as we move towards the future,” Dean said in a press release. “I am excited to work with the board and the Suffolk Federal team to effectively serve our members and community, building upon a solid foundation to achieve continued success, growth and expansion.”

Prior to joining the $1.3 billion-asset credit union, Dean was the chief strategy officer at Jovia Financial – previously known as Nassau Educators Federal Credit Union – and she spent more than 19 years at Bethpage Federal Credit Union. Dean holds a business administration degree from SUNY Oswego and an MBA in Corporate Finance from Dowling College.

Suffolk Federal Credit Union serves over 60,000 members across 10 branches. Data from the National Credit Union Administration shows the credit union earned $987,740 in net income during the first quarter of 2020, down 18.6% compared to the same time one year prior.'

Many other credit unions have also announced female leadership in the top job over the last six months, including San Antonio Citizens FCU in Florida, and Maine’s University Credit Union. Additionaly, America’s Christian CU in Glendora, Calif. announced a new female chief executive during the winter, as did Wayne-Westland FCU in Michigan.