Faheem Masood to Retire as President and CEO of ESL Federal Credit Union
Tom Rogers, chief operating officer, unanimously named by the ESL Board of Directors as Masood’s successor
Rochester, NY — Faheem Masood, President and CEO of ESL Federal Credit Union since March 2016, announces his plans to retire effective April 1, 2026. Tom Rogers, chief operating officer of ESL Federal Credit Union, will succeed Masood as the next President and CEO of the locally-owned financial institution.
ESL appointed Rogers to his current executive-level post in January 2025. He previously served as chief financial officer when he joined ESL in 2013 and took on the additional responsibility of director of marketplace in 2022. In his role as chief operating officer, Rogers oversees the finance department, including accounting and treasury, as well as product development, marketing, and the retail banking, business banking, mortgage lending, and wealth management lines of business.
“ESL is an exceptional organization, and it will be an honor and privilege to serve as its President and CEO,” said Rogers. “Faheem has been a remarkable leader and during his tenure we have not only grown significantly, but have done extensive, impactful work to live up to our Purpose to help our community thrive and prosper. Faheem brought that idea of being a purpose-led organization to ESL and it will forever be a motivator for all of us as we continue to provide exceptional experiences to our employees and customers, and to serve the Greater Rochester community. Faheem is a mentor, a friend, and an inspiration to all of us at ESL.”
“Tom has brought a great deal of knowledge and leadership to ESL since he joined the organization. His selection as the next president and CEO was unanimous, with the full support of the board behind him,” said Erin Tolefree, chair of the ESL Federal Credit Union Board of Directors. “He is the ideal successor to continue on the outstanding path Faheem has charted throughout his tenure at ESL. This will begin a new chapter for ESL that the Board has long planned for to make it a seamless transition. Faheem will be leaving a lasting, impactful mark on this organization. His commitment to ESL, its employees, customers, and the Greater Rochester community are felt by us all.”
“I’m going to miss our employees and being part of such a values-driven organization that truly cares about each other, our customers, and the community,” said Masood. “ESL has been my professional home since 1991, and I have been consistently amazed by the exceptional work accomplished by my fellow employees throughout my time here. I’ve been fortunate to witness so many profound and impactful positive changes. I feel confident I’m leaving the organization in a strong position to continue to grow and prosper and, am delighted that Tom will be leading us into the future. I’m looking forward to enjoying retirement with my family and remaining actively engaged in our wonderful community.”
ESL has achieved significant growth since Masood’s term as CEO began in 2016, with increases in assets ($5.0 billion to $9.8 billion), employees (700 to 1,000), and members (about 330,000 to approximately 443,000).
Other significant milestones include:
- Launch of ESL Trust Services, LLC in 2017.
- Acquisition of Cooper/Haims Advisors in 2019.
- Almost half-a-billion dollars returned to the Greater Rochester community since 2017 through the Owners’ Dividend, Community Impact philanthropic grants, and other business decisions such as fee reductions and eliminations, and grants for first-time homebuyers.
- Opening of six new branches: Fairport, Hudson Ave. in Irondequoit, Victor and three in the City of Rochester since 2021 on Lake Ave., N. Goodman St., and W. Main St. in the Bull’s Head neighborhood.
Masood launched his career at ESL in 1991 as a senior financial analyst and was later named manager of financial planning and analysis in 1994. He was appointed President and Chief Operating Officer (1997) of ESL Investment Services, LLC (ISLLC). Three years later, he was also named vice president/corporate product development and in 2003, he was promoted again to senior vice president/marketplace director. ESL appointed Masood President & COO in May 2012. In that role, he directed the personal banking, business banking, and wealth management lines of business, which include ESL Investment Services, LLC (ISLLC), operations, lending center, marketing, branch and contact center, and corporate planning.
Active in the community, Masood serves on the board of directors of the Greater Rochester Chamber of Commerce, United Way of Greater Rochester and the Finger Lakes, Geva Theatre Center, Together Now, and Lifetime Health Care Companies and its Rochester Regional Advisory Board. He also serves on the Finger Lakes Regional Economic Development Council.
Prior to joining ESL in 2013, Rogers led Broadstone Real Estate, LLC, as president and chief operating officer. He received his BS in Accounting from the State University of New York at Buffalo, and earned an MBA from the University of Rochester, William E. Simon Graduate School of Business. Rogers is also a Certified Public Accountant (CPA) in the State of New York. He generously volunteers his time and talent to the community, currently serving on the board for Geva Theatre Center, Junior Achievement of Central Upstate New York, and The Center for Governmental Research. Previously, Rogers served on the boards of the Ronald McDonald House Charities of Rochester, COMET Informatics, LLC, United Way of Greater Rochester, Greater Rochester Habitat for Humanity, the Rochester Hearing and Speech Center, and The Center for Youth Services.
