Machias Savings Bank has hired the longtime head of University Credit Union to serve as chief financial officer of the Washington County-based bank.
Matt Walsh, a certified public accountant by training, started the job in mid-August after serving 13 years as the president and CEO of University Credit Union. He is replacing Donald Reynolds, who is retiring after 33 years at Machias Savings Bank, the bank announced this week.
Machias Savings Bank has 16 branches from Portland to Caribou. It reported $1.5 billion in total assets at the end of last year, up 11 percent from 2017.
That’s about five times greater than the $305.5 million in assets that University Credit Union reported at the end of 2018. Walsh worked at University Credit Union for 22 years.
Founded at the University of Maine in 1967, University Credit Union primarily serves University of Maine System students, alumni, staff and their family members. It more recently started serving other schools and employer groups, according to its website.
Debra White-Rideout is now serving as interim CEO and executive vice president of University Credit Union.