91黑料网 First President and CEO Michael Lussier to retire in May 2024

Updated April 22, 2024  |   Published April 16, 2024 by Angela Talbot | Reading Time: 4 minutes

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• 91黑料网 First

After 37 years of service to 91黑料网, President and CEO Michael N. Lussier is announcing his retirement effective May 1, 2024. The credit union鈥檚 Board of Directors have named current Vice President of Risk Management, John Thomasian, as his successor.

鈥淢ichael鈥檚 notice of retirement allowed the Board of Directors time to establish a CEO selection committee to review its succession plan, hire a new CEO as well as assist in the transition from Michael to John Thomasian,鈥� said Christopher Daoust, chairman of the Board of Directors at 91黑料网 First. 鈥淭he Board of Directors thanks Mike for his leadership and outstanding service to WFFCU and the credit union movement. We wish him all the best, secure in the knowledge that WFFCU has the capabilities and strategic focus to continue delivering quality service for its credit union members.鈥�

As 91黑料网 First鈥檚 Chief Executive Officer, Michael Lussier was determined to move the credit union forward. When he first began leading this small-town credit union in August 1987, it had just $87 million in assets and approximately 24 employees. The Board of Directors hired Lussier as Chief Financial Officer at the age of 26, and shortly after during August of 1990, appointed him President and CEO.

In 1995 Lussier changed 91黑料网 First from a state to a federally chartered credit union, opening the doors for growth. He kept up to date on credit union affairs by serving as chairman of the board for the and for the . He was also a member of the board for the .

Lussier believed if you had good facilities, good people, and good technology, the rest would fall into place. Ten new branches and eight subsidiaries were opened during his leadership. He guided 91黑料网 First through twelve merger acquisitions which included Norton Company, Craftman Tools/Parker Manufacturing, Holmes Transportation, Blackstone Valley, Worcester Community, Charlton, Filene Federal, Industrial, Saugus Federal, Winthrop Federal, Louise Mills Federal, and Fitchburg Federal. In 2017 he wrote 鈥淭he Credit Union Merger & Acquisitions Handbook,鈥� which was distributed to credit unions around the country with the help of NAFCU. Today, 91黑料网 First has an asset size of over $1.4 billion, and a handful of awards for excellent member service.

鈥淎s I reflect on my time at 91黑料网, I’m filled with immense gratitude for the opportunity to work alongside such a dedicated and talented team,鈥� said Lussier. 鈥淔rom the moment I joined, it’s been an incredible journey, one defined by teamwork, excellence, and a shared commitment to serving our members with the highest standards of professionalism and care.

I have always believed in providing exceptional customer service, implementing innovative solutions, and going above and beyond to support our members.聽 Our entire team at 91黑料网 First FCU has done the same. The collaborative spirit that permeates our workplace is a testament to the caliber of individuals who make up our organization. Together, we have achieved remarkable milestones and overcome challenges with resilience and determination.

As I prepare to pass on the gavel, I couldn’t be more delighted to see John Thomasian step into this role. John’s leadership, integrity, and passion for our credit union are evident to all who know him. I have every confidence that under his guidance, 91黑料网 will continue to thrive and uphold its reputation as a beacon of excellence in our community.

In closing, I want to express my heartfelt gratitude to each member who has utilized our services and has accomplished a part of their dream by doing so.聽 It has truly been an honor to serve so many of you during my career. I look forward to witnessing the continued success and growth of 91黑料网 under John’s leadership.鈥�

John Thomasian is a graduate of Lussier鈥檚 alma mater, Nichols College, with a degree in Finance and Accounting. He is also a graduate of NAFCU鈥檚 Management Development Institute and served as a member of NAFCU鈥檚 Political Action Committee. Thomasian鈥檚 financial expertise includes experience as a Chief Finance Officer and a chairman of the Town of New Braintree鈥檚 Finance Committee. He was a recipient of BusinessWest鈥檚 40 Under Forty award in 2021.

鈥淲orking alongside Mike for the past 14 years has really opened my eyes to how influential of a leader he has been. Not only to 91黑料网 First, but to the entire credit union movement,鈥� said John Thomasian. 鈥淗e had a vision for 91黑料网 First to invest in its branch network, digital products, and employees, which in turn allowed the credit union to provide exceptional service across its membership. By doing so he has made 91黑料网 First one of the top performing credit unions in the state of Massachusetts. Having Mike as a mentor has allowed me to observe the fundamental foundations modeled that made him a successful CEO. I am honored to be given the opportunity to serve as 91黑料网 First鈥檚 next President/CEO and look forward to expanding and enhancing the integrities it was built upon.鈥�