Big moves are happening at Velera, the payments powerhouse that keeps credit unions humming along with financial tech solutions.
The company just announced that Brian Caldarelli is stepping into the president’s chair, effective immediately, where he’ll be running the show on a day-to-day basis.
Meanwhile, current CEO Chuck Fagan isn’t going anywhere just yet. He’s staying put in the top spot until his planned retirement on September 30, 2026—the end of Velera’s fiscal year. Think of it as a carefully choreographed handoff rather than a sudden changing of the guard.
Here’s the full timeline: Caldarelli takes the reins as president now, learns the ropes while running operations, and then officially becomes president and CEO when Fagan rides off into the sunset on October 1, 2026.
A Transition Built on Teamwork
“Brian and I, along with our Board and our Velocity Team, have been working closely together over the past several months to ensure a seamless leadership transition on October 1,” Fagan explained. He emphasized that Caldarelli has been making serious headway in prep mode, and this move keeps everyone—clients, employees, and partners—on solid ground.
Fagan made it clear he’s not phoning it in during his remaining time either. “I remain fully engaged as CEO and will continue working alongside Brian over the coming months to support him and the broader organization, while focusing on continuing to advance our strategic pillars to position Velera and our financial institutions for sustained growth,” he said.
Caldarelli’s Game Plan
So what’s Caldarelli up to while settling into his new role? Beyond getting deeper into the organizational weeds as he preps for the full CEO transition, he’s hitting the road to meet with Velera clients nationwide. Because nothing beats face-time when you’re about to become the person steering the ship.
“I’m honored and excited to take this next step as we move toward our leadership transition this fall,” Caldarelli said. His priorities? Maintaining Velera’s culture, pushing innovation and next-gen technology forward, and making sure credit unions get the advocacy and service they’ve come to expect.
Translation: don’t expect any dramatic pivots or reorganizations that’ll leave clients scrambling. This is about evolution, not revolution.
The leadership transition gives Velera plenty of runway to ensure continuity—something that matters a lot when you’re the go-to payments CUSO (that’s credit union service organization, for the uninitiated) for financial institutions across the country.
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