GECU names insider Alex Rascón as CEO amid expansion push.
The El Paso credit union is entering a new phase of growth as it pursues a bank acquisition and expands deeper into Texas and New Mexico.
GECU, the largest locally owned financial institution in El Paso, has appointed longtime executive Alex Rascón as its new president and chief executive, marking a leadership transition at a credit union that has steadily expanded its footprint across the Southwest.
Rascón succeeds Crystal Long, who retired May 1 after leading the $4.7 billion-asset institution through 15 years of growth, including a recent push beyond Texas and into neighboring New Mexico.
The transition comes as GECU pursues one of the more closely watched expansion strategies among regional credit unions. The organization in late 2025 announced plans to acquire Bank of the Southwest, a deal that remains subject to approval from the National Credit Union Administration, the Federal Deposit Insurance Corporation and New Mexico regulators. GECU is also preparing to open its first branch in Lubbock, Texas, later this year.
“The appointment of Alex Rascón marks an exciting new chapter for GECU,” Gregory J. Watters, chairman of the board, said in a statement. “We are confident Alex will guide GECU into its next chapter of growth while continuing to focus on our members and the communities we serve.”
Rascón has spent 28 years at the El Paso-based credit union and most recently served as executive vice president and chief financial officer. In that role, he oversaw accounting, treasury, business intelligence, human resources and the institution’s card portfolio. Earlier in his tenure, he managed branch operations, communications and community development initiatives.
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His appointment reflects a broader trend in the credit union industry, where boards increasingly favor executives with deep institutional experience as financial cooperatives navigate rapid technological change, rising competition and expansion into new markets.
“I am honored and humbled to be chosen as GECU’s next President and CEO,” Rascón said. “Crystal Long was a true visionary and extraordinary leader shaping who GECU is today, and I am excited to build on that legacy.”
Founded in El Paso, GECU has grown into one of the region’s most prominent financial institutions, serving more than 444,000 members nationwide. The credit union earned $15.7 million in the first quarter of 2026, up from $13.6 million during the same period a year earlier.
Long announced her retirement in March, describing the decision as part of an effort to position the organization for its next phase of development.
“Leading this organization has been one of the greatest honors of my professional life,” she said at the time.
In a letter posted on the company’s website, Rascón emphasized continuity while signaling an intention to continue expanding the institution’s reach.
“As we continue to grow, we will remain focused on advancing our vision of bringing access to convenient, superior products and programs to empower financial freedom,” he wrote.
The proposed acquisition of Bank of the Southwest could further accelerate that growth. Credit union acquisitions of community banks have become increasingly common in recent years as larger cooperatives seek scale and broader commercial banking capabilities, particularly in fast-growing markets across the South and Southwest.
For GECU, the leadership change arrives not as a reset, but as a continuation of an aggressive expansion strategy already underway.
“It is a privilege to lead an organization with such a strong legacy of service and community impact through education, action, and giving.”
– Alex Rascón
New President & CEO
GECU
Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.
