CSCU said Friday its President/CEO Robert Hackney will retire at the end of the year after nearly two decades of service.

Tom Davis, formerly senior vice president of finance and technology for the Tampa, Fla.-based payments processing CUSO, has already taken the position of president/COO and will become president/CEO on Jan. 1, 2018.  

“Bob was CSCU's very first employee and his leadership and contributions to the company are beyond measure,” said Barry Shaner, CSCU board chair and president/CEO of the $708 million Directions Credit Union in Sylvania, Ohio. “Although he will be sorely missed, he leaves a legacy behind.”

Under Hackney's leadership, CSCU grew to become one of the nation's largest payments processing organizations.

In 2006, he was named to the VISA board of directors to represent the credit union industry.  More recently, Hackney and his team ushered in a new era of payments technology and growth for credit unions as the payments industry evolved rapidly because of risk mitigation and emerging payments platforms.

“The highlights of my career at CSCU will forever be the incredibly talented and dedicated people I have met and the deep relationships that I have developed over the years,” Hackney said. “From credit union employees to our business partners, the CSCU staff and the board, we've all passionately served with a focus on growing an important segment of the financial services industry. It's been an incredible 19 years, and I feel very honored and privileged to have been CEO.”

Davis joined CSCU more than 10 years ago.  He previously worked for Software Architects where he managed development projects for various industries, including financial services. 

 During his tenure as SVP, he built, implemented, and managed new business initiatives that grew CSCU. Davis currently serves on the Federal Reserve's Faster Payments Task Force and the CUNA Payments Advisory Committee.

“My history with CSCU has allowed me to be very tuned into the future of growth for credit unions,” said Davis.  “The industry is changing rapidly and credit unions continue to be asked to do more with less resources.  I'm committed to bringing the next level of services and solutions to help credit unions assist their members and continue to serve their communities.”