CSCU, the payments processing association, announced that Robert Hackney, president and CEO, will retire at the end of the year after having served for 19 years.
Under CSCU’s long-time succession plan, Tom Davis, currently SVP of finance and technology, will assume the role of president and COO, effective immediately, and become CEO effective January 1, 2018.
CSCU explained Davis and Hackney will “remain working side by side” until year end to “ensure that CSCU members continue to grow their revenues and member services in this ever-changing payment technology landscape.’
CSCU noted that Davis has been with the company for more than 10 years and is a “recognized subject-matter expert” in finance, technology, payments and strategic planning. Over his tenure as SVP, he has implemented, managed and built “many new business initiatives to grow the company and better serve” the credit union industry. Davis also currently serves on the Federal Reserve’s Faster Payments Task Force and the CUNA Payments Advisory Committee.
Davis is a graduate of Missouri State University and earned his MBA from the University of South Florida.
“Tom’s expertise in payments and technology are exactly what CSCU and our credit unions need to position us for growth,” said Barry Shaner, chairman of the board of directors for CSCU, in a statement.
Speaking of Hackney, Shaner commented that “Bob was CSCU’s very first employee, and his leadership and contributions to the company are beyond measure.”
CSCU further said that under Hackney’s nearly two decade tenure, the credit union service organization has “grown extensively to become the nation’s largest card processing association.”