Securityplus FCU’s CEO Steps Down

After two years as president/CEO of the $579 million Securityplus Federal Credit Union, Tricia Szurgot has resigned to “pursue a new opportunity within the credit union industry,” according to a statement from the credit union on Tuesday.

In the statement, the Baltimore-based credit union’s board of directors said Securityplus Chief Information and Technology Officer Ray Ragan has been named as interim CEO.

As of this announcement, and with Szurgot’s resignation, the credit union has had two interim CEOs due to departing leaders in the past three years. In July 2021, Mike Keener, Jr. was appointed interim CEO until the arrival of Szurgot in March 2022. According to Securityplus, Ragan’s appointment as interim CEO is “in line with the organization’s strategic succession plan.”

In a prepared statement concerning Szurgot’s departure, Board Chair Barbara Cuffie said, “Tricia’s strong leadership and unwavering dedication have guided us through a period of remarkable transformation, growth and operational improvement. She leaves behind a solid strategic foundation and a talented team poised for continued success. We wish her all the best as she embarks on this new chapter.”

Of his new position, Ragan said, “Stepping into the role of Interim CEO at Securityplus is both an honor and a profound responsibility. I care a great deal about the membership and this credit union. Together, we will continue to innovate, serve and strengthen the financial health of our members and communities. Over 20 years in banking, technology and military leadership prepared me well for this role and a seamless transition.”

Szurgot said she was thankful for the opportunity to serve as the credit union’s leader. “Together, we set a strong strategic course and operational foundation for the future, achieved historic milestones, and transformed the organization into a leading community-centric regional financial institution. Ray is an exceptional leader and I’m confident he will continue the great work we started,” she said.

Cuffie added, “We are confident that the future of Securityplus will continue to shine brightly, deepening our commitment to our valued members and the communities we proudly serve. We look forward to having Ray as our interim CEO, as this marks an exciting new chapter for our organization.”

Szurgot did not indicate where her next credit union industry opportunity might be.