The $277 million Heartland Credit Union in Springfield, Ill., said Tuesday that President/CEO Ed Gvazdinskas will retire next February after 38 years of service.
He will be succeeded by current COO Tom Lex, who has been with Heartland CU for 33 years, the Illinois credit union said in an announcement.
Gvazdinskas joined the former Sacred Heart Credit Union as an assistant manager in 1975 and named president/CEO in 1983 when it stood at $18.5 million in assets. He has led the organization through four mergers and growth from 9,000 to its current 26,800 members, the announcement said.
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"I feel extremely fortunate to have worked at Heartland Credit Union for so long. Working with so many dedicated volunteer board directors and extremely talented employees for nearly four decades, to help our members financially succeed, has been very gratifying," Gvazdinskas said
Gvazdinskas has been active in the industry, serving as a board member for the Illinois Credit Union League and Sangamon Valley Chapter of Credit Unions, as well as chairman of the Illinois Credit Union Executive Society, chairman and vice chair of the former Mid-States Corporate Federal Credit Union, and on a task force for the state Department of Financial Institutions and treasurer.
He also has been active with other civic and community organizations, and as a coach who has been inducted into the Western Illinois University Sports Hall of Fame and the Springfield, Illinois Sports Hall of Fame.
"I hope what we have accomplished over the last 38 years, has served our members well and brought value to them and their families," said Gvazdinskas, adding that he plans to spend more time with his wife, Jan, their three sons and grandchildren.
"By all measures, Ed embodies all of our core values, not only as an executive, but as a person. His visionary leadership has truly been instrumental in the success of the credit union. The board wants to thank Ed for his dedication and we wish him the best in his retirement," said Jay Boor, chairman of Heartland CU's Board of Directors.
Boor added in the statement, "The board is confident that Tom will continue to lead the credit union with the vision of growth and continued success."
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