UMassFive College Federal Credit Union’s President and CEO, Katherine Hutchinson, will retire once the Board of Directors selects a new leader, the credit union announced on Feb. 2.
The board plans to have Hutchinson’s replacement by no later than the third quarter.
Hutchinson has been the $460 million-asset institution’s president and CEO since Jan. 1997. She joined the credit union in 1975 as a part time teller, became operations manager in 1981, assumed the role of interim president and CEO in 1995 and officially became the head of the credit union two years later.
Hutchinson oversaw the building of a new main branch in 2001 and a new branch at Northampton in 2007. She also coordinated a merger with the Credit Union of Providence Systems. Under Hutchinson, the credit union refurbished many of its branches to include new technologies such as interactive teller machines and lobby check-in systems.
“I am grateful to have spent 42 years serving the members of UMassFive College Federal Credit Union, and deeply honored to have had the opportunity to lead it for the last twenty. I am very proud of what my UMassFive colleagues have accomplished together during two decades of both successes and challenges,” Hutchinson said in a press release. “The work we have done together gives me great confidence about the Credit Union’s future success.”