Workers Credit Union announces Doug Petersen’s retirement, selects Jay Champion as Interim President/Chief Executive Officer
LITTLETON, MA (July 13, 2023) — Workers Credit Union’s ($2.6B, Littleton, MA) President/CEO Doug Petersen, who has served the cooperative since 1995, will retire on July 14. During Petersen’s tenure, the credit union grew to be one of the largest in the state with $2.6 billion in total assets, approximately $1.7 billion in loans, and more than 124,000 members. Earlier in his career, Petersen also served as Senior Vice President of Finance for the nation’s first credit union, St. Mary’s Bank.
“We’d like to thank Doug for his 27 years of service to Workers,” says Mary Heafy, Board Chair. “We wish him a happy retirement and appreciate his long-term commitment to the credit union movement.”
The Board of Directors has selected Jay Champion to serve as Interim President/Chief Executive Officer. Champion will join Workers on July 18 and guide the credit union during this transitional period as the Board searches for a permanent replacement.
“Workers is firmly focused on empowering members to achieve financial wellness and we’re confident in Jay’s ability to provide the leadership needed to continue fulfilling this mission,” says Mary Heafy, Board Chair. “As a seasoned financial institution leader, Jay understands the industry and has the skills needed to maintain our team’s delivery of top-notch member service.”
Champion brings 30 years of experience developing high performing, engaged teams to his new position and was placed by DDJ Myers, the well-known leadership development firm. He most recently served as President/Chief Executive Officer of the $2.2B Westerra Credit Union in Denver, Colorado. Prior to that, he served as Chief Operating Officer for the $3.5B Elevations Credit Union in Boulder, Colorado.
“I’m excited to lead an organization with a 114-year legacy of service and a core purpose of improving the daily lives of our members,” says Champion. “This purpose truly resonates with me, and I believe we can make an even bigger impact on the communities Workers serves.”
Throughout his extensive experience serving as a Board member and in multiple c-suite roles for various financial institutions, Champion has become highly skilled in nurturing healthy and engaged team cultures, enhancing business process management, and driving organizational performance.
Champion obtained his Master of Business Administration with Management and Finance concentrations from Texas A&M University – Commerce and his Bachelor of Science in Economics from East Texas State University. As a lifelong learner, he has continued his education and graduated from the Southwestern Graduate School of Banking at Southern Methodist University.
Jay Champion, Interim President/Chief Executive Officer
About Workers Credit Union
Workers Credit Union, a member-owned and member-focused $2.4 billion credit union, is building the financial wellness of its more than 120,000 members through coaching, products and support that empowers them to build a better life for themselves and their families. Headquartered in Littleton, MA, Workers Credit Union has been serving communities in Massachusetts for more than 100 years. Workers Credit Union recently adopted a national charter that enables it to serve a broader set of members wherever they live. Workers Credit Union is a Community Development Financial Institution and Low-Income Designated Credit Union.
About DDJ Myers, An ALM First Company
DDJ Myers specializes in leadership success through executive recruitment, strategic organization, and board development for financial institutions. In addition, they offer a broad range of online assessments to help companies optimize their greatest assets – their people. DDJ Myers joined forces with ALM First, a strategic partner that offers depositories an array of financial advisory services, in 2022 to provide expanded educational opportunities and solutions to help clients optimize both people and financial performance. Learn more at www.ddjmyers.com or visit our parent company www.almfirst.com.