Hanscom Federal Credit Union Selects Penelope Swallow as CFO and Jim Flanagan as CIO

Hanscom Federal Credit Union (“HFCU”) selected S&W to manage two key executive searches for the organization. Headquartered in Littleton, Massachusetts, HFCU is a $1.8B credit union serving over 90,000 members throughout eastern Massachusetts and Virginia. HFCU welcomed a new President & CEO, Peter Rice, in early 2022, committed to fulfilling the Credit Union’s mission of being a trusted advisor members can turn to for unbiased financial guidance and education. Integral in fulfilling this mission, was the selection of a Chief Financial Officer and Chief Information Officer.

HFCU selected Penelope (“Penny”) Swallow as their next Chief Financial Officer, following the planned retirement of their longtime CFO, Kimberly Houle. A native of Massachusetts, Penny has spent her career in finance and accounting with financial institutions with community financial institutions – including Rockland Trust Company, Jeanne D’Arc Credit Union, St. Anne’s Credit Union, and most recently UniBank for Savings. In addition to Penny’s extensive experience within traditional depositories, she also worked as a consultant for Sungard, now FIS, working with financial institutions nationally and assisting with the implementation of their ALM software.

Following an exhaustive national search and interview process, HFCU selected Jim Flanagan as their next Chief Information Officer. Jim spent over 20 years at Commonwealth Financial Network leading technology business units across the organization, focusing on driving operational efficiencies and leading complex projects aimed at providing an exceptional customer experience. Most recently, Jim was focused on modernizing delivery of Commonwealth’s educational content, implementing elements of gamification to encourage further engagement.

“From the onset of the assignments, it was clear that we were engaged on a searches that would significantly impact the direction of HFCU for years to come. Penny’s intellect, wealth of experience, and passion for the credit union movement made her uniquely suited to join HFCU in this CFO role. The CIO search attracted candidates from both in and outside of the industry due to the unique nature of the role and focus on gamification. Jim not only immediately impressed all of us with his expertise and technical experiences but also with his leadership skills. What ultimately set these two candidates apart was the combination of their experience and cultural fit with the organization. We are beyond thrilled to see the continued success of HFCU with both Penny and Jim on the executive team.” said Moriah Maron, Senior Associate on S&W’s Financial Services team, who led the recruiting efforts on both engagements.

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