New CEO announced Source: Shutterstock.

Garden Savings Federal Credit Union in Parsippany, N.J., announced Monday that its CEO Lou Vetere will retire after 17 years as its leader at the end of this year. Garden Savings’ ($414 million in assets, 26,975 members) board of directors voted to make current Chief Sales Officer and Vice President of Lending and Marketing Michael Powers the next CEO as of Jan. 1, 2023.

“It has been an honor and a privilege to lead this wonderful team as we helped our members achieve their financial dreams,” Vetere said. “I have been fortunate to be supported by a professional board, excellent executive team and an amazing staff my entire career, which have all helped propel Garden Savings to a high level of success.”

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Michael Ogden

Editor-in-Chief for CU Times.

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