Liberty Bay Credit Union is hiring a former banking executive to succeed its current CEO when he retires next year.

The organization earlier this month announced that Lyndon Matteson will be named president and will become CEO when Liberty Bay’s current leader Edward Lopes retires in late 2019.

In his new role, Matteson will immediately assume all day-to-day operational responsibility for the credit union and gradually assume additional strategic, legislative and governance roles.

“I have now met the entire board of directors, most of the staff and several credit union members. The sense of family at Liberty Bay is exceptional,” Matteson said in a statement. “It will be a great privilege to serve as president. I also look forward to building on Ed’s legacy when the time comes.”

Prior to joining Liberty Bay Credit Union, Matteson held executive positions at Upstate National Bank, Cobblestone Financial Group, Inc., Citizens Bank/Charter One Bank and Key Bank.

“Lyn brings 30 years of banking experience to his new position,” Lopes said in a statement. “He has a deep background in retail as well as business banking. He is a strong advocate for community involvement and financial literacy, both of which we believe are competitive differentiators.”

“Lyn has a demonstrated track record of delivering growth and earnings,” Ed Foley, chairman of the board of directors at Liberty Bay, added in a statement. “He brings exactly the skill set that the board of directors wants from our next CEO.”

The Braintree-based Liberty Bay Credit Union has more than $690 million in assets and close to 27,000 members.