Chief Operating Officer Rich Kump has been named the next president and CEO of UMassFive College Federal Credit Union, a $469 million institution based in Hadley, Mass.
As reported, UMassFive’s former president and CEO, Kathy Hutchinson, is retiring.
Kump has 34 years of credit union experience, including the past 17 years at UMassFive, where he has served as vice president of member service and chief operating officer. He also worked for 12 years at St. Mary’s Bank of Manchester, N.H., the nation’s first credit union.
“Our goal in choosing a new president and CEO for UMassFive College Federal Credit Union centered around finding someone who will remain constant to Kathy Hutchinson’s longtime promise of providing a full range of the best financial products and services to meet our members’ needs now and into the future,” said Robert Harrison, UMassFive’s board chair.
During his tenure at UMassFive, Kump helped create specialty loan products like the credit union’s Farm Share loan, Teacher Licensure loans and Credit Builder loan.
“UMassFive has made a difference in the financial lives of so many people, and to be the one to carry on that tradition is awe-inspiring,” Kump stated. “Fortunately, we have a staff that is second to none. I’m confident that our mission of service will continue unabated.”
The credit union posted net income of about $1 million in the first quarter of 2018, after recording net income of about $3.3 million in 2017