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Timothy Mackay will become president/CEO of Landmark Credit Union in Brookfield Wis., on Oct. 13, the board of directors announced Thursday.
He will succeed Jay Magulski, who announced his planned retirement in January. Magulski joined the credit union in 2003 and was named its president/CEO in 2013. During his 12-year tenure, the credit union increased assets from $2.2 billion to its current assets of $7.1 billion while loans grew from $1.7 billion to $5.8 billion and membership expanded from 212,003 to 402,078, according to NCUA Call Reports.
Mackay joins Landmark from the $18.5 billion First Merchants Bank in Muncie, Ind., where he served as president of mortgage banking and bank operations. Prior to that, he was president of Level One Bank and Level One Bancorp in Michigan, leading the organization until its sale to First Merchants. He also held previous senior leadership positions including EVP of consumer banking at Level One Bank and SVP and retail executive at Fifth Third Bank.
"We set out to find the right leader – someone who could drive growth, implement strategic change as needed, support and evolve the member experience and uphold the culture, mission and values that make Landmark Credit Union so special,” Landmark Board Chair Brian Dorow said. “We feel confident that Tim is the ideal candidate with the right style of leadership to fill the president and CEO role."
In its prepared statement, Landmark noted that Mackay has understood the importance of supporting the community personally and professionally. He has been a leader or board member for nine organizations, and his community-driven values align with Landmark's mission and culture of building lasting relationships and strengthening community connections.
"Landmark is a truly unique organization, rooted in strong values, genuine care for its members and a deep commitment to the communities it serves," Mackay said. "I am honored and excited to join the team and to build upon Landmark's strong financial foundation and clear sense of purpose. My focus is on ensuring a smooth transition while continuing to empower dreams, strengthen relationships and embrace the credit union's philosophy of people helping people."
To ensure a smooth leadership transition, Magulski will remain as senior advisor until his retirement on Dec. 31.
"On behalf of the board, associates and members, we are sending a sincere thank you to Jay for his years of leadership," Dorow said. "He will be remembered for his dedication to people and positioning Landmark for growth. We wish him all the best as he begins this new chapter."
Landmark’s 1,072 employees operate 34 locations throughout east-central Wisconsin.
Peter Strozniak can be reached at pstrozniak@cutimes.com.
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