Lourdes Cortez will retire as CEO of North Jersey Federal Credit Union in Totowa, N.J., at the end of this year.
Cortez started working at the $240 million-asset credit union in 1984 as a teller, according to a press release on Thursday. She subsequently worked in various areas, including lending, electronic services and collections, before being promoted to CEO in 2005.
During her tenure as CEO, the institution increasead its assets by more than 40%, implemented a bilingual website, launched a “branch on wheels” and started a student-run location at a local high school.
Cortez was honored by the National Association of Federally-Insured Credit Unions as 2020 CEO of the Year for credit unions in North Jersey FCU's asset size category.
“If you surround yourself with the best, it makes everything easier,” Cortez said in the press release.
North Jersey FCU's board is still looking for Cortez’s successor, according to a notice from Mitchell Stankovic & Associates.
The credit union lost roughly $62,000 through the first six months of the year, after it reported a profit of nearly $263,000 for the first half of 2019, according to call report data from the National Credit Union Administration.
