March 3, 2008

Howard Bogach has resigned as president and CEO of Credit Union Central of Ontario, board chair Sheena Lucas has announced.

Bogach will leave the organization April 6, following Ontario Central’s annual general meeting. Ontario Central has appointed current chief financial officer Jim MacDonald as interim president and CEO.

Don Rolfe, CEO of  Credit Union Central of British Columbia, will lead the integration of the two centrals. He was designated to be CEO of  Central 1 Credit Union, which will be created by the merger of B.C. and Ontario Centrals.

“Howard has accepted a challenging and high profile opportunity in the private sector,” Lucas said in a note to credit unions and Ontario Central staff. “I’m sure I speak for our Board, our system and Central staff when I say that, while we wish him well in his future role, we will truly miss his leadership and his presence.”

Bogach has worked in the Canadian credit union system for more than 22 years, with  senior roles at credit unions in Ontario and Alberta, and with the Credit Union Deposit Guarantee Corporation of Alberta. Before joining Ontario Central as president and CEO in 2004, he  was a Central Board member and the CEO of Metro Credit Union (now Alterna Savings).

“He has been a key architect of the Central 1 vision, and its completion will be his lasting legacy to the Canadian credit union system,” Lucas said. “Our Board greatly appreciates what Howard has accomplished on behalf of our system over what has been a very challenging period.”