Newsletter 2026 V2 Article - UMassFive Appoints Lauren Duffy as Next President & CEO
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“I am truly honored to step into this role and continue serving our members. UMassFive has always been rooted in strong relationships, trust, and a genuine commitment to helping people make informed financial decisions. I have a deep respect for the responsibility entrusted in me to lead this financial cooperative, and I look forward to collaborating with our team in new ways to build on that foundation and continue supporting those we serve, as well as the greater Pioneer Valley.” - Lauren Duffy
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Following a comprehensive and thoughtful selection process, the Board of Directors has unanimously appointed Lauren Duffy, currently Executive Vice President & Chief Operating Officer, as the next UMassFive President & CEO, effective June 1, 2026. Kump will continue to support UMassFive as a Senior Advisor to Duffy through the end of 2026.
“Lauren brings a deep understanding of our organization, our members, and the credit union philosophy,” said Jacqueline Watrous, Chair of the Board of Directors. “Her leadership reflects a strong commitment to our employees and a clear alignment with the values that guide our work every day. We are fortunate to have such a strong and talented individual assuming this leadership position to guide UMassFive forward.”
Duffy is a 27-year veteran of the credit union industry, including the last 21 years at UMassFive. She has played a key role in shaping the Credit Union’s strategic direction while strengthening both the member and employee experience. Her leadership has guided numerous major initiatives, including core data processing, credit card, and digital banking upgrades, the evolution of UMassFive’s mission and values, and securing the location for UMassFive’s next branch opening in East Longmeadow later in 2026 (read more on this in the following article).
In addition to her work at UMassFive, Lauren is actively involved in leadership efforts both locally and across the credit union industry. Her community involvement includes engagement with organizations such as Northampton Public Schools, the Mount Holyoke College Alumnae Association, and Boston Children’s Hospital. She serves on the Board of Directors of UMassFive-owned Member Advantage Mortgage, which she has chaired since 2021, and is a trustee of the Cooperative Fund of the Northeast, where she chairs the Loan Committee.
She is also deeply involved in legislative advocacy to promote and protect access to credit unions for all, contributing to committee efforts at both the state and national levels. This transition reflects the strength of UMassFive’s internal talent and commitment to continuity.
The Board also expresses its deep appreciation to Kump for his leadership and lasting impact on the organization. “Rich’s leadership has left a lasting mark on UMassFive,” said Board Chair Watrous. “His commitment to our members, his care for our employees, and his dedication to our cooperative mission have helped shape the organization we are today.”
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“It has been a privilege to serve UMassFive and work alongside such a dedicated group of employees. I'm incredibly proud of what we’ve accomplished together and grateful for the opportunity to support our members over the years. I’m fully confident the organization is in great hands and will continue to thrive well into the future.” - Richard Kump
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During his time as President & CEO, UMassFive grew from 37,000 members and $460 million in assets to more than 50,000 members and over $712 million in assets. Rich led the organization through significant historical moments and milestones, including the launch of Commercial Services, a successful merger with Northampton V.A.F. Federal Credit Union, and major program enhancements to its lending and wealth management programs. He also guided the Credit Union through the COVID-19 pandemic while strengthening its commitment to community impact and sustainability initiatives, particularly solar financing.
“UMassFive remains committed to serving our members with the same dedication and personal approach that have defined us for decades,” said Board Chair Watrous. “We are grateful to draw on Rich’s legacy while looking ahead to a bright future under Lauren’s leadership, as we continue our commitment to supporting financial well-being for all.”