TAMPA, Fla.–Six weeks after announcing he was taking a leave of absence, GTE Financial Credit Union CEO Joe Brancucci has announced he is retiring.
No reason for the departure was provided, although the credit union had earlier announced his departure was not related to financial issues.
In a statement, GTE Financial said, “As of March 9, 2016, Mr. Joe Brancucci will be retiring as the chief executive officer and president of GTE Financial. We thank Mr. Brancucci for his years of service and wish him the very best in his future endeavors.”
The credit union said that EVP and Chief Experience Officer Brian Best will continue as the acting CEO of the $1.765-billion credit union.
In a Facebook post, Brancucci said, “It has been a fantastic journey as our team rebuilt GTE after the severe damage caused to the institution, our members and our communities during the great recession. The years have been a very intense time, but I am proud to say that the incredible team we assembled has and will continue to serve our members in a unique way. The work the team does with low and moderate income members is phenomenal.”