Centricity Credit Union, a $138 million institution based in Hermantown, Minn., has named Doug Ralston its next president and CEO, succeeding Scott Lundgren, who is retiring.

Since joining the credit union in 2002, Ralston has served numerous roles, most recently as chief operations officer.

Doug Ralston, Centricity CU
Doug Ralston, incoming CEO of Centricity CU

Lundgren had a 33-year career within the credit union industry and joined Centricity CU, previously called Hermantown Federal Credit Union, in 2001.

“We are all extremely appreciative to Scott for the tremendous leadership he provided to guide us where we are today, and we wish him the very best in retirement,” Ralston said. “I’m looking forward to this new opportunity and continuing to serve our members and their financial needs.”

Ralston also serves on the board of directors for Minnesota Credit Union Network Foundation and Arrowhead Chapter of Credit Unions.

With nearly 18,000 members in St. Louis, Carlton, and Douglas Counties, Centricity CU posted net income of about $863,000 in 2017, down from about $1.13 million in 2016.

From 2016 to 2017, its total loans and leases rose from about $93.1 million to almost $97 million.

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