Chris McFadden, a widely respected banking leader with nearly four decades of experience, recently was promoted to CEO of Union County Savings Bank.
McFadden has been an integral part of Union County Savings Bank’s leadership team since joining the bank in 2022, playing a key role in the bank’s financial strategy and overseeing its operations as chief financial officer.
Erik Terpstra has been named the new chief financial officer.
Union County Savings Bank is a community bank headquartered in Elizabeth that was founded back in 1883. Since then, it has grown to have four branches and $1.6 billion in total assets, primarily serving customers in Union and Essex counties.
Chairman Colin Neill applauded the appointments.
“We are thrilled to have Chris take on the role of president and CEO,” he said. “Her deep expertise and leadership in the banking industry makes her the ideal person to guide Union County Savings Bank into its next phase of growth. We also welcome Erik to the executive team and look forward to his contributions as CFO.”
Before joining the financial institution, McFadden served as executive vice president and chief financial officer of NVE Bank in Englewood. Her extensive career includes leadership roles at Banco Popular North America, where she served as chief financial officer and chief administrative officer, as well as at Hudson United Bancorp and Carver Federal Savings Bank.
Neill said Terpstra brings a wealth of experience in financial management and banking operations and that his leadership will be instrumental in continuing the Bank’s commitment to financial strength, community engagement and strategic growth.
