Business

SECU promotes long-time CFO to chief executive

The State Employees Credit Union has named Michael Lord, the organization’s chief financial officer for the past 30 years, as its new CEO.

Lord, 64, will succeed Jim Blaine, who announced in May that he planned to retire, as of Sept. 1.

Lord has worked at SECU for 41 years. In addition to being chief financial officer since 1986, he worked as a loan officer in Raleigh and Fayetteville and was a branch manager in Elizabeth City.

“Mike is a strong leader with institutional experience and future vision, and we are fortunate to have him lead SECU during this next phase in our organization,” Blaine said in a prepared statement.

A graduate of N.C. State University, Lord is a certified public accountant.

Blaine has led the credit union since 1979. During his watch, the credit union’s assets grew from $300 million to more than $33 billion and its network of branches increased from eight to 257.

Today SECU is the second-largest credit union in the United States with more than 2 million members and 5,800 employees.

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