CHADDS FORD, Pa. — Franklin Mint FCU here has named Drew Stanley as its next president and chief executive officer, setting the stage for a planned leadership transition as longtime CEO Michael B. Magnavita prepares to retire next spring.
The board of the $1.9-billion-asset credit union selected Stanley, currently executive vice president and chief operating officer, to succeed Magnavita when his retirement becomes effective Friday, May 1, 2026, according to reporting by Credit MyChesco.com. Stanley and Magnavita will work closely during the coming months to ensure continuity and maintain operational momentum.
Stanley joined Franklin Mint FCU in 2004 and has held several senior leadership roles, including chief strategy officer beginning in 2014 and chief operating officer since 2019. His experience spans strategic planning, operations, and member-focused innovation. He also serves on the boards of the Delaware County Community College Educational Foundation and CCRES and holds a Certified Chief Executive designation from the Credit Union Executives Society’s CEO Institute.
Magnavita’s retirement will conclude nearly four decades with the member-owned institution, including the past seven years as president and CEO. During his tenure, Franklin Mint FCU expanded its product offerings, strengthened its workplace culture, and earned national recognition, including back-to-back Forbes Best in State awards and six consecutive appearances on American Banker’s list of Best Credit Unions to Work For.