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Earlier this week, Bangor FCU announced that Basil Closson, who currently serves as the Chief Financial Officer at the credit union, will replace Steve Clark as the CU's President/CEO effective April 1, 2018. After serving as President/CEO for the past 32 years, Clark announced his intention to retire several months ago.
Prior to joining the credit union as CFO in 1994, Closson worked at the National Credit Union Administration (NCUA) as the Principal Examiner and spent time at the Region 1 Office performing quality control reviews of examination reports. "It is a great honor to be selected by the Board to become the new President & CEO of Bangor Federal. I look forward to the challenge of maintaining the culture that Steve Clark introduced me to over 23 years ago here at Bangor Federal. Having a person like Steve as a mentor has been a wonderful gift and I personally wish him the very best in retirement," Closson said.
"He and I have worked closely together since 1994. He's excelled in his role as CFO and I'm excited to welcome him to the CEO role. I look forward to helping him in any way that I can," Clark said.
Todd Mason, President of the Maine Credit Union League, added his congratulations to both Closson and Clark. "I would like to recognize the many contributions that Steve has made for more than three decades to his credit union and to the Maine Credit Union System, and wish him well in retirement. I would also like to congratulate Basil on his new position, and reiterate our commitment to provide any support and assistance to him as he transitions into his new role."