For Immediate Release:
May 22, 2012

For more information, contact:
Francine Patella Ryan
ESL Public Affairs Manager
fpatella@esl.org
585.336.1089 or 585.261.6220 (cell)

ESL FEDERAL CREDIT UNION APPOINTS
FAHEEM MASOOD AS PRESIDENT AND
CHIEF OPERATING OFFICER

ROCHESTER, NY — In a move to strengthen alignment with its strategic priorities, ESL Federal Credit Union appointed Faheem Masood, a 21-year veteran of the local credit union, as the company's president and chief operating officer. Masood most recently served as ESL's senior vice president and marketplace director. David L. Fiedler will retain his position as chief executive officer. Fiedler has held the position of President and CEO since 2003.

"One of our strategic priorities is to provide a superior customer experience," said Fiedler. "A key initiative related to this priority is to strengthen ESL's value proposition for customer participation among all our lines of business: personal banking, business banking and wealth management. This organizational change brings all operating units under one leader, enhancing ESL's ability to create alignment and a high degree of integration across all lines of business."

As president and chief operating officer, Masood will retain his current responsibilities, which include ESL Investment Services, marketing, contact and branch centers and corporate planning. In his new role, Masood will also assume responsibility for ESL’s operations and lending centers.

"ESL has grown dramatically since its inception as a credit union in 1996. Not surprisingly, this growth places additional demands on senior management," said Fiedler. "During his tenure at ESL, Faheem has demonstrated great ability and capacity to manage increasing responsibilities. He has also played a major role in ESL's growth and development. We are pleased about this opportunity for him and for ESL."

According to Fiedler, Masood's appointment also strengthens another of ESL's strategic priorities, external engagement, which requires additional commitments from Fiedler.

"Although we are chartered as a credit union, our business model is that of a community bank," said Fiedler. "This model demands that ESL play a leadership role in the community. As ESL continues to grow, the community's expectations of ESL also increase. Consolidating operations under Faheem will increase the time I have available to support this strategic priority."

Founded by George Eastman in 1920, ESL Federal Credit Union is a full-service financial institution with $4 billion in assets. ESL employs more than 600 people locally and has about 300,000 members world-wide. The company was recently ranked 16th as one of 2011 Best Small and Medium Workplaces in America by the Great Place to Work^® Institute and presented by Entrepreneur^® - the second consecutive year the company was named to the list. Access to the credit union includes 19 branch locations and more than 40 ATM locations, a Contact Center, and Internet, online and mobile banking channels. The company is headquartered at 225 Chestnut Street, in Rochester, and can be found on the Internet at esl.org.

About Faheem Masood:

Prior to his present appointment, Faheem Masood served as senior vice president/marketplace director of ESL Federal Credit Union since March 2003. In that role, Masood directed the marketplace group activities of the organization, which included ESL Investment Services, marketing, tele-banking center, branch center, and corporate planning.

In his new role as president and chief operating officer, Masood will retain his current responsibilities and will assume responsibility for ESL's operations and lending centers.

Masood began his career at ESL in 1991, as senior financial analyst. In 1994, he was named manager of financial planning and analysis and in 1997 he was appointed president and chief operating officer of ESL Investment Services. In 2000, he was named vice president/corporate product development.

Prior to joining ESL, Masood held various positions at Empire of America Federal Savings Bank, located in Buffalo, New York. He received a bachelor's degree in economics from Allegheny College and earned a master's degree in business administration from the State University of New York College at Buffalo. Masood is a member of the board of directors of Unity Health System and the Rochester Downtown Development Corporation.

Masood and his family reside in Fairport.

 

Faheem Masood