After a long and distinguished career, our President and Chief Executive Officer, Mary Madden, has notified the Board she intends to retire January 2, 2023. Mary’s career with HVCU began over 25 years ago and after leading almost every area of the credit union, including Operations, Marketing, Lending, and Human Resources, she was named President and CEO in 2002.
Under Mary’s leadership, our credit union became the largest locally-based financial institution in the Hudson Valley, currently with assets of $6.5 billion and more than 318,000 members. In 1995 when she arrived, we were still an employer-based credit union serving just over 100,000 members with $817 million in assets. Mary’s tenure with us has seen the creation of a true winning team, including her strong senior leadership group, our volunteers, and the entire staff of more than 800. Mary has always shared the Board’s belief that nothing we achieve comes from just one person or group, but she has been instrumental in leading us all to such great heights. As she leaves the team to carry on, we know she has placed us on a firm path for future growth.
And we are not the only ones who benefited from Mary’s leadership. For decades, she exemplified our core value of community service, holding key positions with a variety of organizations including most recently Central Hudson, Nuvance Health, and Hudson Valley Patterns for Progress. For over 30 years, Mary has been a tireless advocate for our industry, educating people on the value of belonging to a not-for-profit financial cooperative. We will miss her leadership, but wish her all the very best as she moves on to what we know will be an equally impressive retirement. Knowing Mary, she’s not slowing down any time soon.
The Board will conduct a national search to find Mary’s successor, and as we have more information to share, we will do so. Until then, please join me in wishing Mary the very best. We are forever grateful for her leadership.
Chairman of the Board