Securityplus Federal Credit Union announces leadership transition with resignation of CEO Tricia Szurgot and appointment of Interim CEO Ray Ragan

BALTIMORE, MD (April 17, 2024) — The Board of Directors of Securityplus Federal Credit Union is announcing a leadership transition within the organization. Tricia Szurgot, who served with distinction as the Chief Executive Officer since early 2022, announced her resignation to pursue a new opportunity within the credit union industry.

During her tenure, Szurgot has been instrumental in steering Securityplus to new heights, leaving behind a legacy of innovation, growth, and enhanced member services. Under her visionary leadership, Securityplus Federal Credit Union experienced remarkable growth, success, and transformation.

Board Chair, Barbara Cuffie expressed her deepest gratitude to Szurgot for her dedication, leadership, and the extraordinary impact she has made on both the credit union and its community stating, “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.”

In line with the organization’s strategic succession plan, the Securityplus Federal Credit Union Board appointed Ray K. Ragan, Chief Information & Technology Officer of Securityplus, as the Interim CEO upon Szurgot’s departure. Ragan is an expert in strategy and a proven executive leader in the credit union and technology industries, with over 20 years of experience.

Since joining the Securityplus team in August 2022, Ragan partnered closely with Szurgot in developing and executing the strategic roadmap for the future and has become a cornerstone of the organization’s strategic transformation. His extensive knowledge of Securityplus, exceptionally broad professional expertise, coupled with his human-centric leadership style make him uniquely ready to transition seamlessly into the critical role of Interim CEO.

“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 twenty years in banking, technology and military leadership prepared me well for this role and a seamless transition,” remarked Ragan.

He is a graduate of the National Association of Federally Insured Credit Unions’ (NAFCU) Management & Leadership School. He is also a Lieutenant Colonel in the Army Reserve, where he serves as a Brigade Deputy Commander. Ray holds a master’s degree in administration and several certifications in project management, technology, and banking. He did advanced study on strategy and risk at Stanford University and the U.S. Army Command and General Staff College.

“We are immensely proud of the many milestone achievements realized under Tricia’s leadership of Securityplus, including achieving the highest award in our Credit Union’s history being named the top credit union in Maryland on Newsweek’s 2024 America’s Best Regional Banks & Credit Unions list. It is with great enthusiasm that we acknowledge Ray’s collaborative role in this journey,” said Cuffie.

Szurgot expressed gratitude for the opportunity to serve as CEO of Securityplus during a time of great transformation and challenge, saying, “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.”

“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,” concluded Cuffie.

Ray Ragan

About Securityplus Federal Credit Union

Securityplus Federal Credit Union is a not-for-profit financial institution dedicated to serving the community and its members since 1935. With a focus on delivering exceptional service and value, Securityplus Federal Credit Union offers a wide range of financial products and services, striving to empower its members to achieve their financial goals. For more information about Securityplus Federal Credit Union and its services, please visit


Caitlin Stibitz
Senior Vice President, Corporate Communications & Media
C: 610.657.9185

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