News and Information

The Board of Directors of Leominster Credit Union has appointed John J. O’Brien President and CEO. O’Brien will assume the role from Carol A. Southworth who has served as interim President and CEO since January.

O’Brien joined LCU in 2007 as Senior Vice President of Lending where he was responsible for the credit union’s real estate, consumer, and indirect lending programs, as well as its loan servicing and collections operations. O’Brien has more than 30 years of experience in the financial services industry and previously worked in operations, sales and planning capacities at Household International, and HSBC after it acquired Household.

“The Board is extremely pleased with the appointment of John O’Brien as President and CEO,” said Anthony A. Gasbarro, Chairman of the Board.  “By selecting a candidate of John’s caliber from inside the Credit Union, not only did we find someone with great leadership and management skills, but one who knows the organization very well and who,  as a member of the Executive Team,  has helped establish its goals and strategic direction throughout  the past five years.”

“I am truly honored to have been named as President and CEO of such a great institution as Leominster Credit Union,” said O’Brien. “Over the past 5 years, I’ve had the pleasure of working with an outstanding team who is truly dedicated to making the Credit Union the best it can be.  I believe that because of this talented and committed staff, my transition to President and CEO will be virtually seamless to the members and communities we serve.”

“One of LCU’s most important goals is to give back to the community,” said Gasbarro.  “The Directors wanted a President who is active in our local area and who will help the Credit Union continue to uphold this value.  John has been active in his local community where he currently serves on the Parks Facilities Committee and as Vice Chairman of the Board of Selectman. He previously served on the Zoning Board of Appeal.”

In addition to his service to his hometown, O’Brien has also been a member of the North Central and Worcester Chambers of Commerce, North Central Chamber Golf Scholarship Fundraising Committee and the Steering Committee of the New England Credit Union League Lending Council.

O’Brien served for four years in the United States Air Force, and attended the University of Maryland, Holyoke Community College and Duke University’s Fuqua School of Business. He and his wife reside in West Boylston, and are the parents of two adult children.

Carol Southworth, Senior Vice President of Retail filled the President/CEO role on an interim basis since January.  “The Board is grateful to Carol for the excellent job she did during the interim period,” said Gasbarro. “Carol’s leadership skills kept the credit union’s performance and strategic initiatives moving forward while we conducted our search to fill the position.”

Mychelle Phillips, AVP/Operations Manager and Ellen Coughlin, HR/Manager were selected as recipients of the Credit Union Rising Stars Award.

Rising Star Award recipients were selected by an independent committee representing several New England Credit Union Leagues based on their contributions to both their credit unions as well as their communities.

Phillips has worked for LCU for 10 years.  Gary M. Abrams, Executive Vice President, CFO/COO, wrote of Phillips in his nomination letter to the selection committee, “Phillips has a style of management that has her department outperform most others because of the very positive way she manages.  Her leadership skills have brought the Operations Department to a top ranked and well respected department throughout the credit union.  Phillips is also very socially responsible and involved at the community level within the town that she resides with particular emphasis in the political, educational and athletic arenas.”

Coughlin has worked for the Credit Union for 10 years.  Coughlin’s nomination letter was submitted by Barbara Mahoney, SVP/Human Resources.  Mahoney wrote, “Coughlin is committed to doing more than what is expected in her given role and is a sought out resource for committees, special projects or new initiatives across the credit union.  She is consistently looking to improve the products and services we provide to employees, as well as further enhance the level of efficiency in which we deliver these services. Her oversight of policy administration, our performance management program and recruiting initiatives have always exceeded the expectations of the managers and employees she serves.” 

The awards were presented at a special presentation hosted by The Massachusetts Credit Union League, New Hampshire Credit Union League, Credit Union Associate of Rhode Island and CenterPoint magazine.

Leominster Credit Union has dedicated the month of May as Homebuyers’ month.  Throughout the month, LCU will provide home buying information, tips, special offers, and events.

“Area realtors tell us they are seeing an uptick in activity in the local real estate market,” commented John O’Brien, LCU’s Senior Vice President of Lending.  “We felt this would be a great time to provide helpful information, as well as opportunities for down payment and closing cost assistance and credits.  Many people had been waiting out the slow economy to buy a home. Now, with rates still very low and inventory dropping, home buyers are back, both first-time buyers as well as those looking to up or downsize.”

Included in the activities planned for the month will be daily home-buying tips on Facebook and  a first-time homebuyers’ seminar  featuring  a team of experts including a realtor, home inspector, mortgage specialist and attorney who will walk attendees through the home buying process.  Attendees will also have the opportunity to apply to get  pre-qualified on-site.  The seminar will be held on Wednesday, May 22 from 6-8 pm at LCU’s branch on 137 Shrewsbury Street in Worcester.  Registration is required by calling 978-466-7244 or email to marketing@leominstercu.com.

LCU is also using this campaign to let first-time homebuyers know that they can apply for up to $15,000 in down payment and closing cost assistance, subject to credit approval. The funds are made available through a $150,000 grant from the FHLB Equity Builders Program.  To qualify you must be a first-time homebuyer who meets income eligibility guidelines.  The assistance will be available until the grant funds have been depleted.

Full details about all the events, information and assistance programs can be found on www.lcu4homes.com

Anthony A. Gasbarro, Chairman of the Board and Carol A. Southworth, Interim President & CEO of Leominster Credit Union presented Nona Ojala and Jack Hathaway with a check for $8,000 as the Premier Sponsor of Starburst 2013.

Starburst 2013 will be held on Saturday, June 15, 2013 at Doyle Field, Leominster, MA.  The gates will open at 4:30 and the first event will begin at 5:00 pm.  Among some of the performances that night, there will be the musical talents of the Leominster High School Jazz Band and the All-City Youth Concert Band.  The grand finale will be the fireworks extravaganza set to a “Pops” style concert performed by the 40-piece Starburst Band.  The band will perform numerous familiar songs including a medley from the James Bond movies and the Broadway shows, Oliver and A Chorus Line.  Donations for Starburst can be mailed to Starburst, P. O. Box 621, Leominster, MA 01453 or by contacting Nona Ojala at 978-537-2904.

Leominster Credit Union will hold a Shred-A-Thon at its headquarters located at 20 Adams Street, Leominster, MA on Saturday, April 13, 2013 from 8:30–Noon.

Members and non-members can get rid of old, sensitive documents by shredding and recycling them at the Shred-A-Thon.  All items will be shred on site by a secure shredding service, Northeast Data Shredding.

Members of the community can bring up to three legal size file boxes or kitchen sized trash bags to be shred for free.  However we will be accepting donations to Habitat for Humanity during the event.  The Shred-A-Thon helps raise awareness about recycling, the upcoming Earth Day and of course the importance of shredding personal documents to protect against identity theft.

Important documents to bring to the Shred-A-Thon include bank statements, tax returns, medical bills, credit card statements and other personal documents.

For more information contact Joanne Lattanzi, Marketing Manager 978-466-7240 or marketing@leominstercu.com.

Leominster Credit Union Is excited to announce that for the second year in a row, we will be providing assistance to first-time homebuyers through a $150,000 grant from the Federal Home Loan Bank’s Equity Builder Program.  This year, eligible homebuyers can receive up to $15,000 in down payment and closing cost assistance.

Leominster Credit Union granted $60,000 in 2012 to six first- time homebuyers.  Each recipient was awarded $10,000 to assist with their down payment and closing costs. 

To qualify, buyers must meet the Equity Builder Program qualifications criteria, which include income limits.  According to Brenda Bujnevicie, Vice President of Real Estate Operations, “The income limit for a family of four in Worcester County is $64,400, which is less restrictive than many would expect.” 

 “For many first time buyers, this assistance means the difference between whether or not they can fulfill their dream of becoming homeowners,” said Bujnevicie.  “This year, the additional funds and the increase from $10,000 to $15,000 maximum per applicant, means we can help even more first time homebuyers than we did last year.”

Income limits vary from county to county.  For more information and eligibility guidelines, call and speak with a mortgage specialist at 800-649-4646.  The funds will be available until the grant is depleted.