Hanscom Federal Credit Union Names CEO

Peter Rice has been named president/CEO of Hanscom Federal Credit Union on the Hanscom Air Force Base in Massachusetts, the board of directors said.

He succeeds David P. Sprague, who announced his retirement plans to the board last year after leading the credit union for 25 years.

During his CEO tenure, the credit union’s assets grew from $184 million and 25,444 members in 1997 to $1.8 billion in assets and 91,577 members in 2021, according to Hanscom Call Reports. Sprague has been appointed to fill a vacant seat on the credit union’s board of directors effective Feb. 1.

Before accepting the Hanscom CEO position, Rice served as SVP and chief banking officer at the $2.3 billion Workers Federal Credit Union in Littleton, Mass.

He previously worked as SVP for Berkshire Bank, SVP of retail banking at Eastern Bank and as a branch manager at Fleet Bank, according to Rice’s LinkedIn page.

“Peter’s years of senior-level experience in the banking industry, his sharp mind and his forward-thinking ideas are the ideal fit for the vision of where we want to be in the coming years,” Hanscom Board Chair John A. Delcore said in a prepared statement. “He has demonstrated the ability to guide organizational change while delivering results that our member-owners expect with their credit union.”

Hanscom’s 246 employees operate 22 branches.