Eastmill Federal Credit Union in East Millinocket, Maine, named Derek Hebert as its new president and CEO.
He succeeds Dan Byron, who retired from the $75 million-asset organization in March after working in the credit union industry for 31 years.
Hebert was most recently business services manager at the $455 million-asset University Credit Union in Orono, Maine. His background also includes 24 years in relationship and branch management roles at other financial institutions in Maine, the company said in a press release.
In an email, Hebert said the primary challenge of running a small credit union will be continuing to grow in its "very rural" home market.
"My initial plan to start to overcome this will be to look at the technology that is available to help us reach new areas and people within our field of membership that we may not have been able to work with due to distance from our physical locations," he said.
The credit union will also be closely evaluating the products and services it offers, he said.
Eastmill earned $71,000 in the first nine months of 2022, a 23% decrease compared with the first three quarters of 2021, according to call report data from the National Credit Union Administration.
