GRAFTON, Mass. - Edward Lopes, the president and chief executive officer of the Grafton Suburban Credit Union, announced his resignation Tuesday to take on a bigger challenge at a Braintree-based depository.
The announcement came by news release and marks the end of his nearly eight years at the Grafton-based $125 million institution.
Lopes said he will leave in mid-March to become the next CEO of Liberty Bay Credit Union, which he said has about 24,500 members with a deposit base of approximately $650 million, roughly five times the size of Grafton.
“This will be quite a big deal,” Lopes said in a telephone interview. “I’ll be going into a metropolitan environment, and the size comes with a certain amount of complexity.”
Before joining the credit union in Grafton, he worked at the International Monetary Fund, Lopes said.
In the news release, Lopes is credited for making the Grafton institution “more progressive through technology, community integration and member services.”
Andrew S. Nelson, chairman of the Grafton Suburban Credit Union said Lopes came to them during a difficult time for the institution. ""He helped us enter the technology age," he said adding that Lopes helped create online avenues for members to make deposits and apply for a loan.
While the hunt for a new CEO is under way, Nelson, said responsibilities will be shared by Chief Financial Officer Terry Dorilas and Chief Operating Officer Martha Dean.