Naveo Credit Union’s leader Rui F. Domingos will be moving over to MIT Federal Credit Union as its new president and CEO.

Domingos has been at Somerville-based Naveo Credit Union since 1991, most recently as CEO. MIT FCU said in a statement that Domingos is passionate about the significance of credit unions in the community and has a history of creating highly engaged teams. He is a member of the Cooperative Credit Union Association Social Responsibility Committee and the Metro Boston Chapter.

“We are delighted to welcome Mr. Domingos to MIT FCU and are confident that he is the right person to build on MITFCU’s momentum.” David Markuson, chairman of MIT FCU’s board of directors, said in a statement. “He is a leader with strong background of financial, operational and executive management experience who will ensure continued excellence of service to our membership as well as taking MIT FCU to the next level.”

Domingos replaces Brian Ducharme, who retired last year after 19 years leading MIT FCU, which has about $583 million in total assets. Nancy Fales has been serving as interim CEO.

“I am humbled and honored to join this fantastic organization and appreciate the board of directors’ confidence in me to lead MIT FCU.” Domingos said in a statement. “I look forward to working with the credit union’s talented team to continue to deliver great value to our members. In addition, I am eager to engage with the MIT community and affiliated organizations to collaborate on initiatives that will improve the financial well-being of the credit union members.”