Earlier this year, the Board of Directors of Hanscom Federal Credit Union elected longtime board member Ray T. Phillips as the credit union’s chairman. The position was previously held by Paul J. Marotta since 1992, who stepped down to focus his attention on mentoring future board leadership and on charitable programs and projects on behalf of Hanscom FCU as its chairman emeritus.
Phillips brings a wealth of experience to his new role on the Board. He was elected to the credit union’s Board of Directors in 1994 and has been the Board’s treasurer since 2018. Prior to election to the Board, Phillips served on its Supervisory Committee, which is responsible for engaging certified public accountants, performing audits, and ensuring effective internal controls and risk management practices are adhered to at the credit union.
Phillips officially retired in 2004 as a senior cost/price analyst for the U.S. Air Force on Hanscom AFB, but continued to conduct cost/price analysis of contractor proposals on a contract basis for the Air Force through 2015. He has also held a senior accounting position with the U.S. Army Corps of Engineers in Waltham, MA, and was a savings and loan examiner for the Federal Home Loan Bank Board in Boston.
Phillips holds a bachelor’s degree with high honors in business administration from Lowell Technological Institute in Lowell, MA, and obtained an MBA with honors from Babson College in Wellesley, MA. He also served in the U.S. Navy for four years.
“Knowing that the leadership of Hanscom Federal Credit Union is passing into Ray’s capable hands is reassuring,” said Marotta. “Ray’s career was built on providing financial oversight on major government acquisitions, making him the perfect candidate for the job.”
Phillips and his wife Susan live in Acton, MA, with their two dogs, Buddy, a beagle mix, and Ginger, a terrier mix. He’s a familiar face at the credit union’s main branch, but in his free time he trains for marathons, including the Boston Marathon, which he has run 20 times since 2000 to raise money for Boston Children’s Hospital as a member of #TeamHanscomFCU.
Learn more about Hanscom Federal Credit Union and its employment opportunities at www.hfcu.org/careers.
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