Union County Savings Bank named Chris McFadden as president and chief executive officer to become the first woman to lead the 142-year-old community bank.
McFadden becomes the eighth woman to lead a financial institution in the Garden State, based on data from the state Department of Banking and Insurance. She had been acting president of Union County Savings Bank, which has four branches and assets of $1.6 billion.
Previously, McFadden served as executive vice president and chief financial officer of Union County Savings Bank. Before joining Union County Savings Bank, she served as executive vice president and chief financial officer of NVE Bank in Englewood.
McFadden also served in leadership roles at Banco Popular North America, where she was chief financial officer and chief administrative officer. She worked at Hudson United Bancorp and Carver Federal Savings Bank. She has more than 40 years of experience as a banking professional.
“We are thrilled to have Chris take on the role of President and CEO,” said Colin Neill, chairman of the Board at Union County Savings Bank. “Her deep expertise and leadership in the banking industry makes her the ideal person to guide Union County Savings Bank into its next phase of growth.”
Erik Terpstra succeeds McFadden as chief financial officer at Union County Savings Bank.
“We also welcome Erik Terpstra to the executive team and look forward to his contributions as CFO,” said Neill.
