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CEO transition underway at Hershey credit union

Hershey Federal Credit Union is gearing up for a change at the top.

Paul R. Wagner, president and CEO of Hershey Federal, is planning to retire in February 2019.

But Wagner’s successor at the South Hanover Township-based credit union – Joseph E. Marchese – is starting July 2.

Marchese, who has worked for several local banks, will be acting president and CEO until taking the job permanently next March, according to Jill Sottile, a spokesperson for Hershey Federal.

In the interval, Marchese will be learning what the CEO role entails at Hershey Federal.

“The operations of a smaller credit union require the president/CEO to be involved in the daily operations process,” Wagner said in a statement. “To provide a seamless transition to members and staff, initially, Joe will be shadowing me to learn the HFCU systems and procedures. Then the relationship will transition with my mentoring and coaching Joe until my exit next year.”

A Lititz resident, Marchese was most recently assistant vice president agricultural and a commercial relationship manager at Ephrata National Bank in Lancaster County. He also has worked as a branch manager for Jonestown Bank & Trust Co. and Fulton Bank.

In addition, he has worked as a commercial relationship manager for Member Business Financial Services, which helps a group of credit unions fund business loans.

His relative youth also was a factor in his hiring. Marchese recently turned 38, according to Sottile.

Richard Miller, chairman of Hershey Federal’s board, said in a statement: “The Board of Directors is strategically working to attract members of the millennial generation. We are pleased to not only find someone in this age group, but with the unique experience Joe brings to position HFCU for the future.”

The credit union has assets of $67 million and more than 6,000 members.

Editors’ note: This story has been updated to include a statement from Paul R. Wagner.

CPBJ Staff
Contact the Editorial Department at [email protected]

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