After more than four decades in the credit union world, UMassFive President & CEO Richard Kump is heading into retirement—and he’s leaving the keys with someone who knows the place inside and out.
Meet Lauren Duffy, the credit union’s current Executive Vice President & Chief Operating Officer, who’ll officially step into the CEO role on June 1, 2026. If you’re thinking this sounds like a well-planned succession rather than a scramble, you’d be right. The Board of Directors unanimously selected Duffy after what they describe as a thorough and thoughtful search process.
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“Lauren brings a deep understanding of our organization, our members, and the credit union philosophy,” said Board Chair Jacqueline Watrous. “Her leadership reflects a strong commitment to our employees and a clear alignment with the values that guide our work every day. We are fortunate to have such a strong and talented individual assuming this leadership position to guide UMassFive forward.”
A Homegrown Leader with Serious Credentials
Duffy isn’t exactly new to the game. She’s spent 27 years in the credit union industry, with 21 of those years at UMassFive. As EVP & COO, she’s been the driving force behind some pretty major projects—think core data processing overhauls, credit card platform upgrades, and digital banking improvements. She’s also helped shape the credit union’s mission, values, and long-term strategic vision. In other words, she’s been preparing for this moment whether she knew it or not.
“I am truly honored to step into this role and continue serving our members,” Duffy said. “UMassFive has always been rooted in strong relationships, trust, and a genuine commitment to helping people make informed financial decisions. I have a deep respect for the responsibility entrusted in me to lead this financial cooperative, and I look forward to collaborating with our skilled team in new ways to build on that foundation and continue supporting those we serve, as well as the greater Pioneer Valley.”
Beyond her day job, Duffy stays plenty busy. She sits on the Board of Directors of Member Advantage Mortgage (which UMassFive owns) and has chaired it since 2021. She’s also a trustee of the Cooperative Fund of the Northeast, where she chairs the Loan Committee. On the advocacy front, she represents Massachusetts on the Cooperative Credit Union Association’s Advocacy Committee and serves as a PAC Trustee for America’s Credit Unions. She even contributes nationally as a member of America’s Credit Unions’ Advocacy Policy Committee—because apparently, there are only 24 hours in her day too.
Her community involvement extends to Northampton Public Schools, the Mount Holyoke College Alumnae Association, and Boston Children’s Hospital. She also recently earned her MBA from UMass Isenberg School of Management in 2023, proving you’re never too seasoned to keep learning.
Kump’s Legacy: Growth, Impact, and a Whole Lot of Solar Panels
As for the outgoing CEO, Kump isn’t exactly riding off into the sunset just yet. He’ll stick around as a Senior Advisor to Duffy through the end of 2026, helping ensure the transition is as smooth as possible.
“Rich’s leadership has left a lasting mark on UMassFive,” Watrous said. “His commitment to our members, his care for our employees, and his dedication to the cooperative mission have helped shape the organization we are today.”
The numbers back that up. During Kump’s tenure, UMassFive grew from 37,000 members and $460 million in assets to more than 50,000 members and over $712 million in assets. He led the organization through some heavy-lifting moments: launching a Commercial Services division, merging with Northampton V.A.F. Federal Credit Union, transitioning the Wealth Management program, and—oh yeah—navigating a global pandemic.
But one of Kump’s most impressive achievements might be one you haven’t heard about unless you’re really into renewable energy financing. He was a driving force behind Massachusetts’ Mass Solar Loan program, which ran from 2015 to 2020 and helped nearly 6,000 homeowners go solar across the state. UMassFive didn’t just participate—they dominated, financing more solar installations than any other lender by a factor of two. Even better? Over 70% of UMassFive’s solar loans through the program went to low-income qualified homeowners, making clean energy accessible to people who might otherwise have been priced out.
“It has been a privilege to serve UMassFive and work alongside such a dedicated team,” Kump said. “I’m incredibly proud of what we’ve accomplished together and grateful for the opportunity to support our members over the years. I’m fully confident the organization is in great hands and will continue to thrive well into the future.”
What This Means Going Forward
Leadership transitions can be tricky, but this one looks about as solid as they come. Duffy knows the organization, the members, and the mission. She’s been instrumental in shaping where UMassFive is today, and she’ll have Kump’s guidance through the end of next year as she settles into the role.
“UMassFive remains committed to serving our members with the same dedication and personal approach that have defined us for decades,” Watrous said. “We are grateful to draw on Rich’s legacy while looking ahead to a bright future under Lauren’s leadership, as we continue our commitment to supporting financial well-being for all.”
In an era where leadership shake-ups often feel chaotic, this is a refreshing example of thoughtful planning and internal talent development done right. Here’s to the next chapter.
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