OSWEGO, NY – Compass Federal Credit Union has announced that its long-time manager and CEO, Thomas O’Toole will retire in the spring of 2020.
O’Toole started his tenure with Compass Federal Credit Union, then Alcan Employees Federal Credit Union, in January of 1989, following six years in the banking industry with Syracuse Savings Bank, Moravia National Bank and Key Bank.
“I’ve had a lot of support and a great staff over the years. Compass has been a great place to come to work,” said O’Toole. “It has been truly rewarding to be able to provide services that affect people’s lives in a positive way, because we care about them and we can help them. It has been our mission to help support and guide our members.”
Through his 31 years with Compass FCU, O’Toole oversaw the credit union’s growth from just one branch location, with three full-time employees and one part-time employee, to its current map of seven branches with nearly 20 full-time employees and more than 7,000 members.
In that time, Compass FCU was granted a Community Charter through the National Credit Union Administration, helping to ensure the success of the credit union for many years to come.
This growth also saw expansion through mergers with both Oswego Heritage Credit Union and the Oswego Hospital Credit Union.
During O’Toole’s tenure, Compass FCU broadened its member services to include mortgage and home equity loans, credit card services, money market accounts and more.
With the help of a dedicated board and staff, O’Toole helped to broaden Compass FCU’s community outreach to include programs such as the Young Bucks and Teen Tycoons, the Bank at School Program, the annual Charity Golf Outing as well as the annual Scrabble Fun Night.
In retirement, O’Toole said he looks forward to spending more time with family and working to further improve his golf game, while also staying in touch with the credit union industry as an advisor and consultant.
He plans to continue serving the credit union.
O’Toole’s final day as manager will be April 30, 2020.
Compass FCU’s board of directors and CEO search committee have launched their search for a new manager and CEO.
The committee anticipates hiring a successor by January of 2020 to plan for a smooth transition.
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