Leominster Credit Union said Wednesday its president and CEO will retire at the end of November and be replaced by its chief operating officer, its first female to hold the top position.
Barbara Mahoney will become the credit union’s new leader, succeeding John O’Brien, who has been in the position for seven years. O’Brien has been with Leominster Credit Union for 13 years in all and is retiring after 41 years in the banking industry.
Leominster Credit Union’s board of directors appointed Mahoney as the new president and CEO at a virtual annual meeting Sept. 15.
Mahoney joined LCU in 2003 as vice president of human resources and has been promoted since: first to senior vice president of human resources and later senior vice president and chief operating officer, the latter role giving her oversight of operations, information technology and risk, human resources and facilities. Before joining the credit union, she was the director of human resources for Allmerica Financial, and prior to that worked for Bank of Boston.
Leominster Credit Union has $752 million in assets and 48,717 members, according to the National Credit Union Administration. It has nine branches and is the sixth largest credit union in Central Massachusetts, as ranked by assets.
Mahoney becomes one of a small number of top female executives in the banking industry in Central Massachusetts. Others include Southbridge-based Savers Bank’s Rosemary Picard, North Brookfield Savings Bank’s Donna Boulanger, Millbury National Bank’s Kathleen Marcum, Gardner-based GFA Federal Credit Union’s Tina Sbrega, Southbridge Credit Union’s Kate Alexander, Worcester Credit Union’s Lisa Perrin, and Athol Credit Union’s Courtney Fifield.
