Mutual Security Credit Union names new president
Though it’s only been two weeks since his promotion, Henry Baum is looking to take Mutual Security Credit Union into the future of banking as its new president.
“At Mutual Security Credit Union, we are looking to create a personal connection with each of our members,” he said. “We strive to keep the traditions of the past while adding digital services and channels so our members can benefit from professional expertise and financial advice to help them reach their financial goals in a way that works for them.”
The community-based credit union announced Monday that Baum had been named the new president of the institution after serving as executive vice president. The promotion went into effect at the start of January.
Baum joined Mutual Security Credit Union in 2014 and has overseen key organizational changes in operations, compliance, information systems, card services and lending. He also brings 20 years of community banking experience to the role, including four years as executive VP.
In that time, Baum said, he’s focused on volunteerism while continuing to introduce technology to enhance the member experience.
“Banking in today’s FinTech-driven environment is so much different than the way our parents sought financial services,” he said. “We need to marry the digital self-service channels our members expect while also providing exceptional face-to-face experiences our members have relied on for professional financial advice.”
Since it was established in 1954, Mutual Security Credit Union has been serving its membership, which now tops over 29,000, as a not-for-profit organization with 75 employees.
The institution entered 2019 with $310 million in total assets and six public access branches. MSCU also has four Select Employer Group buildings.
It also serves more than 50 Select Employer Groups including William Raveis, Housatonic Community College and Boehringer-Ingelheim.
MSCU has been working to transform its banking centers into more collaborative spaces, starting with its Shelton office, Baum said, adding the plan is to continue the effort with MSCU’s new branch — expected to open in Norwalk later this year.
Part of that effort has been focused on connecting the way members seek financial guidance with the different ways MSCU staff can communicate with them.
“Our success is predicated on our human capital. I am truly blessed to collaborate and work alongside so many talented and dedicated professionals who truly care about our members’ success,” Baum said.
As president, Baum is expected to oversee all operational, saving and lending lines of the business while also playing a role in guiding internal departments.
Supporting Baum in his duties is a senior management team including: Larry Holderman, CEO; Stephen Osowiecki, CFO; Michael Augusti, VP Sales and Service; and Ann Nankervis, Director of Human Resources.
Baum will be involved in more corporate strategic endeavors along with CEO Larry Holderman, who commended Baum’s ability to guide the credit union’s future in the state.
“Hank has proven to be a valuable asset to Mutual Security Credit Union and its 29,000 members and I am confident that his track record with us and his 26 years of experience will help guide our institution to continued success,” he said in a press release.