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Faheem Masood Selected to Succeed David Fiedler as CEO of ESL

Fiedler announces plans to retire from ESL Federal Credit Union on March 1, 2016
Rochester, NY – Faheem Masood, president and chief operating officer of ESL Federal Credit Union, will succeed David L. Fiedler as the new President/CEO of the locally-owned financial institution. Fiedler, CEO of ESL Federal Credit Union since March 2003, announced his plans to retire effective March 1, 2016.

ESL appointed Masood to his current executive-level post in May 2012, in which he directs the personal banking, business banking, and wealth management lines of business. Masood began at ESL in 1991 as a senior financial analyst. 

“ESL is an exceptional organization, and it will be an honor and privilege to serve as its President/CEO,” said Masood. “Dave has been a remarkable leader, and during his tenure we have emerged as the largest locally-based financial institution and the largest provider of consumer banking services. He has been a mentor, a friend, and an inspiration to many of us throughout ESL.”

“Faheem has the experience, knowledge, and character we were looking for – his selection was unanimous and he has the full support of the board of directors,” said Candy Obourn, chair of the ESL Federal Credit Union Board of Directors. “While this will begin a new chapter for ESL, it is something we’ve long prepared for in order to make it a seamless transition. Dave has left his mark throughout ESL, setting us up to continue as the premier provider of community banking services in the Greater Rochester area.”  

“I’m going to miss our employees and being part of such a high-performing and well-respected organization. I’m proud of what ESL has accomplished and confident I’m leaving the organization in a strong position to continue to grow and prosper,” said Fiedler. “I’m looking forward to enjoying retirement and remaining actively engaged in our wonderful community.”

ESL has achieved significant growth since Fiedler’s term as CEO began in 2003, with increases in assets ($2.6 billion to $5.0 billion), employees (500 to more than 700), and members (about 260,000 to 330,000 worldwide).

Other significant milestones include the launch of business banking and the opening of the company’s new headquarters in Downtown Rochester, both in 2010. 

Fiedler first joined ESL Federal Credit Union in 1997 as senior vice president and retail operations manager after nearly 30 years in financial management at Eastman Kodak Company. In 2000, he was appointed ESL’s executive vice president and marketplace manager and elected to the board of directors. In addition to his executive leadership position at ESL, Fiedler currently serves on the boards of Frontier Telephone of Rochester, Inc., Isoflux Incorporated, the United Way of Greater Rochester, Center for Governmental Research, Genesee Valley Club, and the Rochester Business Alliance.

Masood received a bachelor’s degree in economics from Allegheny College and earned an MBA from the SUNY College at Buffalo. Active in the community, he serves on the board of directors of Rochester Regional Health Systems, Geva Theatre Center, and the Rochester Downtown Development Corporation.

About ESL Federal Credit Union

Founded by George Eastman in 1920, ESL Federal Credit Union is a full-service financial institution with $5.0 billion in assets. The locally-owned financial institution employs more than 700 people in Rochester, New York, and includes approximately 330,000 members worldwide.

The company has now appeared on the Great Place to Work® Best Small & Medium Workplaces list for five years (2015, 2014, 2013, 2011, and 2010). Access to the credit union includes 20 branch locations and more than 40 ATM locations, locally-based telephone and Internet chat centers, and online and mobile banking channels. The company is headquartered at 225 Chestnut Street in Rochester and can be found on the Internet at www.esl.org.

For more information, contact:

Rich Pulvino, APR
Manager, Corporate Communications
rpulvino@esl.org
585.336.1009