Boyd Gustke will retire from his post as president and CEO of Connexus Credit Union effective Nov 15.

He will be replaced on an interim basis by the $4.6 billion-asset credit union’s EVP and chief operating officer, Chad Rogers.

Gustke has been with the Wausau, Wisconsin-based organization since 2005 and served as its chief executive officer since May 2020.

“We are deeply grateful for Boyd’s service, his reliable and unwavering leadership and his transformative influences of caring and compassion,” said Alita Lobner, Connexus Credit Union’s board chair in a press release.

Under Gustke’s leadership, Connexus expanded its membership to more than 475,000, became a remote-first organization and grew its philanthropic program, Connexus Cares.

He also oversaw the credit union’s merger with the $457 million-asset Heritage Credit Union in Deforest, Wisconsin, in 2022.

Rogers joined Connexus in 2013 and has most recently served as EVP/COO for four years. In his current role, Rogers manages operations, leads strategic initiatives and drives innovation within the organization.

“We are excited to welcome Chad Rogers into his role as interim president and CEO and look forward to further strengthening the Connexus brand under his leadership.” Lobner said.

The credit union lost roughly $33 million in the first three quarters of 2024 after posting earnings of $13.5 million a year earlier, according to call report data from the National Credit Union Administration.

“We are deeply grateful for Boyd’s service, his reliable and unwavering leadership and his transformative influences of caring and compassion.”

 – Alita Lobner
Board Chair
Connexus Credit Union