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Portsmouth, NH – Following the passing of Northeast Credit Union’s long-time Board Chair, Philip “Phil” Sullivan in March 2020, Northeast Credit announces recent changes to its Board of Directors. These new appointments bring many years of leadership experience across multiple industries including accounting, banking, and the stock transfer industry. Changes to the Board make-up include the appointment of a new Chairman and Vice Chairman, as well as the election of a new Director.

Raymond L. Bald has been appointed as Chairman of the Board of Directors. Bald is a Certified Public Accountant licensed in NH, ME and MA. He is also a Certified Fraud Examiner and a Principal in the firm of Cummings, Lamont & McNamee, PLCC; he is a graduate of the University of Southern Maine. Ray joined Northeast Credit Union’s Supervisory Committee in 2010. In April 2016, he began his service on the Credit Union’s Board of Directors; he has served as Vice Chair of the Board since November 2018. Ray is a member of various industry associations and is an active volunteer in the community. He was a past President of the York Rotary Club (2006-2007), served as Treasurer of Pine Tree Council, Boy Scouts of America, and served as a Scoutmaster with Troop 301 in York, Maine. Raymond and his wife, Lisa, live in Exeter, New Hampshire.

Terrance L. Beers has been appointed Vice Chairman of the Board of Directors. Beers has served as a volunteer since August 2017, initially as a member of the ALM committee, and later as a Director when he was elected to the role in November 2018. Terrance is a former bank executive, was the founding organizer of a start-up commercial bank in southern Maine, and has held multiple executive positions in the financial industry during his career. Throughout his career Beers has been a charter member of the Marketing Research Planning Council, Bank Marketing Association in Chicago, Illinois and a past member of the Maine State Economic Advisory Council for the Maine State Planning Office. He was the former Chairperson of the Mellon Bank of Pittsburgh Northeast Region Steering Committee, as well as a past member of the Board of Directors for Northern New England School of Banking and Ocean Communities Federal Credit Union. Terrance and his wife, Becky, live in Kennebunk, Maine.

Donald J. Kenney, current Chairman of Northeast Credit Union’s Supervisory Committee was appointed to the Board of Directors in March 2020. Kenney recently retired as CEO of Equiserve, a stock transfer agency, based in Massachusetts. Prior to his role at Equiserve, he was a banker in both commercial banking and the Federal Reserve System and brings over 35 years of experience in the financial industry, and a wealth of knowledge in financial management, compliance and auditing. Throughout his career, he has served on Board Audit Committees for other institutions. In his free time he volunteers on various community boards. Donald holds a MS in Management from MIT and a BS in Computer Science from Northeastern University. He and his wife, Patricia, reside in Meredith, New Hampshire.

“We feel incredibly fortunate to have the commitment of Ray, Terry and Don on our Board of Directors. They are true advocates for the credit union and always represent the best interest of our members as we look to grow as an organization,” states Timothy J. Collia, Northeast Credit Union’s President and CEO. “Their commitment to Northeast Credit Union, and their community, is inspiring and we look forward to their continued leadership and contributions into the future,” concluded Collia.

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