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December 5, 2022

First female CEO at NorState FCU retires after 34 years

NorState Federal Credit Union announced President and CEO Susan G. Whitehead, the first woman to serve as CEO of the financial institution, has retired after a career that spanned more than three decades.

NorState Federal Credit Union
Susan G. Whitehead

Whitehead has dedicated 34 years to NSFCU; she was hired in April 1988 as a utility clerk. Whitehead has served in various positions, including member services, the visa and debit card department, and executive vice president. She has been president and CEO for the past nine years. 

"Sue has always kept our members' evolving needs as her highest priority," said board member David Mitchell.

Whitehead was appointed president/CEO in 2013 after the retirement of David Rossignol. The appointment also came with the distinction of being named the first female CEO in the company's history.

“It’s been a honor to have served our membership for 34 ½ years, with the last 9 ½ being entrusted to lead the organization as CEO," said Whitehead. "Our founders chartered the credit union in 1941 to provide financial services to people of modest means and I am proud to say that just as those before me, we have continued to do so until today. I’m excited to see NorState Federal Credit Union’s future.”

Leigh Smith, chair of NorState Federal Credit Union board of directors, said, "Sue's time in service to our credit union has brought a wealth of institutional knowledge and has been a key component in my ability to serve the credit union well. I wish her a relaxing and restful future."

The credit union will announce a successor at the end of the week.

NorState Federal Credit Union is a not-for-profit cooperative owned by its members. Based in Madawaska, NSFCU has six branch locations and more than 14,414 members and 78 employees. 

NorState Federal Credit Union was ranked No. 16 among the largest Maine-based credit unions in the 2022 Mainebiz Book of Lists, ranked on total assets of $237 million as of Sept. 30, 2021.

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