Peter Rice, second from right, at an employee training session at Hanscom FCU's Dorchester branch. Photo courtesy of Hanscom FCU.

Workers Credit Union’s former chief banking officer, Peter Rice, has been named president and CEO of Hanscom Federal Credit Union.

Rice replaced David Sprague, who retired in early January after leading Hanscom Federal Credit Union for 25 years. Sprague was added to the credit union’s board of directors on Feb. 1.

Rice’s hiring followed a nationwide search, Hanscom Federal Credit Union said in a statement. Rice, who was also a senior vice president at Workers, joined Hanscom on Jan. 31. He is the credit union’s fifth president and CEO during its 68-year history.

“Peter’s years of senior-level experience in the banking industry, his sharp mind, and his forward-thinking ideas are the ideal fit for the vision of where we want to be in the coming years,” Hanscom FCU’s board chairman, John A. Delcore, said in the statement. “He has demonstrated the ability to guide organizational change while delivering results that our member-owners expect with their credit union. We’re excited about welcoming Peter into our fold, and look forward to watching him lead and continue the growth that David was able to achieve during his tenure.”

Rice has worked in the financial services industry for nearly 20 years and has held various executive level positions throughout his career, the statement said. At Workers, he was responsible for a relationship and financial wellness strategy for members across several lines of business, including retail, commercial, mortgage, auto, consumer lending, relationship banking, investment and wealth management services. He was also responsible for the member contact center, video teller bank, and facilities.

Before joining Workers, Rice was senior vice president of business banking at Berkshire Bank in Boston and was previously senior vice president of retail banking at Eastern Bank in Boston.

“It’s an exciting time for me to join Hanscom,” Rice said in the statement. “This is a credit union that’s member-focused rather than transaction focused; focus on member education and experience have been drivers in my own career. With Hanscom, there’s a commitment from top leadership on down to educate, to give members the tools, products, and resources that get them in the best position to succeed financially. To be able to lead the organization right now with that mindset in place means we can effectively reach the goals the board has set out for us, while maintaining the trust Hanscom has earned through over five decades of operating with a mission and core values at its heart.”

D. Hilton Associates conducted Hanscom’s nationwide search.

“Our search committee has done a terrific job finding the right person to lead Hanscom Federal Credit Union,” Delcore said. “Peter has many great ideas for continuing our trajectory of growth and exceptional member service. His outstanding vision and drive will help guide us in finding additional ways to meet the needs of our members and expand our membership base.”

Hanscom FCU, whose membership includes the military and Massachusetts-based federal employees, is headquartered at Hanscom Air Force Base and has more than 90,000 members in the U.S. and overseas. The credit union has total assets of $1.8 billion and 22 branches.