A street sign at a branch of the North Carolina State Employees' Credit Union. (Source: Shutterstock)
State Employees' Credit Union in Raleigh, N.C. announced Wednesday that its President/CEO Michael J. Lord plans to retire on Aug. 31.
Lord was appointed CEO in 2016 after serving as chief financial officer for North Carolina's largest credit union for more than 30 years. He joined SECU in 1975.
During his CEO tenure from 2016 to 2020, SECU's assets have grown from $35 billion to $47 billion, while its membership has increased from 2,210,212 to 2,547,942. Lord also expanded the credit union's number of employees from 6,135 to 7,040.
Michael J. Lord "Mike has been an integral part of the SECU leadership and family for nearly five decades. He has shared a wealth of knowledge and made many contributions over his tenure, which have helped us anticipate and better meet the needs of our members," SECU Board Chair Bob Brinson said in a prepared statement. "We are extremely grateful to Mike for his leadership and commitment, particularly throughout the COVID-19 pandemic, and wish him the best in his much-deserved retirement."
SECU has initiated a nationwide search and expects to name a new CEO when Lord retires.
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