Central One Federal Credit Union Names New CEO

Devon Lyon will become the new president/CEO of Central One Credit Union in Shrewsbury, Mass., at the end of August when David L’Ecuyer retires after 32 years of service, the board of directors announced last week.

L’Ecuyer joined Central One in 1990 as an assistant manager and was promoted to manager of operations a year later. By 1994, he was named CEO.

During his CEO tenure, the credit union grew assets from $110 million in 1994 to its current assets of $737 million, while loans increased from $67.3 million to $532 million, according to NCUA Call Reports. Central One’s membership also expanded from 14,132 to 37,435.

Lyon is joining Central One from the $806 million Direct Federal Credit Union in Needham, Mass., where he has served as COO and as vice president of strategic research and risk management.

He also worked as director of education for NAFCU and as director of compliance for the $2.6 billion State Department Federal Credit Union in Alexandria, Va.

“The board of Central One is very excited to have a strategic, results-oriented and personable leader like Devon join the organization,” Central One Board Chair Anthony Pini said in a prepared statement. “His enthusiasm for the industry will help drive Central One forward into the future, and we are looking forward to Devon stepping into this role. David will be missed by the board and the staff, but the credit union will remain in good hands with Devon at the helm.”