Harvard University Employees Credit Union’s longtime leader, Gene Foley, will retire in July 2020 after 25 years as president and CEO. Foley celebrated his 40th anniversary with HUECU last year.

George White, HUECU board chairman, said in a statement that Foley exemplified passion and dedication.

“Throughout his impressive tenure of more than four decades, he has led HUECU to remarkable growth and success, while also being an influential voice and tireless advocate for the credit union movement,” White said. “His commitment to our membership, Harvard University and the credit union industry is unparalleled, and through his efforts he has not only developed an outstanding organization but has brought positive and meaningful changes for all of our constituents.”

Foley began his HUECU career as a teller in 1979 and was appointed CEO in 1994. During his time as president, HUECU’s assets grew from less than $90 million to nearly $1 billion. He added Harvard University students and alumni to the field of membership, developed an extensive student loan program and won the bid to issue the Harvard Alumni Association credit card.

More recently, Foley led the credit union through a simultaneous core and online banking conversion in November 2019.

Foley also looked for opportunities for HUECU to give back to the community, including through financial literacy initiatives and educational programs to help members and non‐members escape debt, pay for school and buy their first home.

In collaboration with students and professors, Foley created Harvard University’s first financial literacy class to teach undergraduates skills for managing their financial lives. The class has been part of the Harvard University curriculum for decades. The class was among the reasons Foley was recognized as a Credit Union Hero by Banker & Tradesman in 2012.

Other accomplishments include testifying before Congress regarding data security on behalf of credit unions, serving on the Massachusetts Fair Lending Task Force, contributing to the development of the multi‐state Cooperative Credit Union Association and taking on committee assignments and board‐level roles with the Credit Union National Association, the Massachusetts Credit Union League and the Payment Systems for Credit Unions. The CCUA last year honored Foley by inducting him as an inaugural member of its Hall of Fame.

“I feel blessed to have been an integral part of this organization, this movement and this University over the past 40 years; it has been an exciting and inspiring experience,” Foley said in a statement. “I am immensely honored to have worked with so many incredible people during this time and to have done such meaningful work. More importantly, I have had the privilege to play a part in helping to improve the financial lives of three generations of members. I want to thank our members, employees and board for trusting and supporting me and our Credit Union along this journey.”

HUECU has engaged the executive search firm KLR Executive Search Group to recruit Foley’s successor.