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July 28, 2022

Central One credit union tabs Needham executive as new CEO

Photo | Courtesy of Central One Federal Credit Union Devon Lyon, as of Aug. 22, will be president & CEO of Central One Federal Credit Union.

Shrewsbury-based Central One Federal Credit Union has selected Devon Lyon, COO of Direct Federal Credit Union of Needham, to succeed long-time president and CEO David L’Ecuyer on Aug. 22.

L’Ecuyer started with Central One as an assistant manager in 1990 and was named to his current position in 1994. He announced his retirement in February and will retire at the end of August, according to a Wednesday press release.

Lyon joined Direct Federal Credit Union in 2018 after working as director of education for the National Association of Federally-Insured Credit Unions. Direct Federal Credit Union has $750 million in assets and 28,421 members, according to a March 31 National Credit Union Association call report. 

“The board of Central One is very excited to have a strategic, results-oriented, and personable leader like Devon join the organization. His enthusiasm for the industry will help drive Central One forward into the future, and we are looking forward to Devon stepping into this role. David will be missed by the board and the staff, but the credit union will remain in good hands with Devon at the helm,” Anthony Pini, chairperson of the board of directors, said in a press release.

The new CEO selection comes after a number of changes to the credit union’s board. Pini was named board chair on July 21, replacing Robert McLaren. Jeffrey Pond was tapped as vice chair replacing Pini. Charles Giacoppe was named as board secretary, replacing Pond.

Central One Federal Credit Union has $738 million in assets, up from $701 million at the same time last year, and 37,435 members, according to its June 30 NCUA call report.

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