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Retail services exec to take over as CEO at SouthPoint Financial CU

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Richard Nesvold, president and CEO of SouthPoint Financial Credit Union in Sleepy Eye, Minn., will retire during the first quarter of 2020.

Jay Gostonczik, the institution’s vice president of retail services, was named as Nesvold's successor. Gostonczik was promoted to executive vice president as part of the transition plan and will assume the role of president and CEO upon Nesvold’s retirement, the $358 million-asset SouthPoint said in a press release on Tuesday.

“I am pleased our board has selected Jay to continue to build on SouthPoint’s success in strategic and innovative ways,” Nesvold said in the press release.

Gostonczik spent the past six years as a member of the SouthPoint leadership team and has over 20 years of credit union experience.

Nesvold spent 30 years with the credit union and was appointed CEO in 1996. He was inducted into the International Executive Volunteer Corps by the World Council of Credit Unions in 2012 for his work on the CENCOPan Paraguay initiative.

He also was a former board chair for the state trade association for Minnesota CUs and the Minnesota Credit Union Network. Additionally, Nesvold was the Minnesota Credit Union Network Professional of the Year in 2012. Most recently, he was inducted in the Credit Union House Hall of Leaders in Washington, D.C.

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