Hanscom FCU Names Peter Rice as President/CEO

Hanscom AFB, MA (February 10, 2022) – Following a national search, Hanscom Federal Credit Union’s Board of Directors has named Peter Rice as the credit union’s president/CEO. Rice, who was most recently senior vice president and chief banking officer at Workers Credit Union, took helm of the $1.8 billion credit union on January 31. He is the fifth president/CEO in the credit union’s 68-year history.

Rice replaces David P. Sprague, who formally announced his retirement plans to the board last year after successfully leading Hanscom FCU for 25 years. Sprague has been appointed to fill a vacant seat on the credit union’s Board of Directors effective February 1, 2022.

“Peter’s years of senior-level experience in the banking industry, his sharp mind, and his forward-thinking ideas are the ideal fit for the vision of where we want to be in the coming years,” said Hanscom FCU’s Chairman of the Board John A. Delcore. “He has demonstrated the ability to guide organizational change while delivering results that our member-owners expect with their credit union. We’re excited about welcoming Peter into our fold, and look forward to watching him lead and continue the growth that David was able to achieve during his tenure.”

“It’s an exciting time for me to join Hanscom,” said Rice. “This is a credit union that’s member-focused rather than transaction focused; focus on member education and experience have been drivers in my own career. With Hanscom, there’s a commitment from top leadership on down to educate, to give members the tools, products, and resources that get them in the best position to succeed financially. To be able to lead the organization right now with that mindset in place means we can effectively reach the goals the board has set out for us, while maintaining the trust Hanscom has earned through over five decades of operating with a mission and core values at its heart.”

Rice, a resident of Marlborough, Mass., has nearly 20 years’ experience in the financial services industry and has held various executive level positions throughout his career. At Workers, he was responsible for developing, implementing, and leading a relationship/financial wellness strategy for members across key lines of business including retail, commercial, mortgage, auto, consumer lending, relationship banking, investment and wealth management services, member contact center, video teller bank, and facilities. Previously, he was the senior vice president of business banking at Berkshire Bank in Boston, and he served as the senior vice president of retail banking at Eastern Bank in Boston.

“Our search committee has done a terrific job finding the right person to lead Hanscom Federal Credit Union,” said Delcore. “Peter has many great ideas for continuing our trajectory of growth and exceptional member service. His outstanding vision and drive will help guide us in finding additional ways to meet the needs of our members and expand our membership base.”

D. Hilton Associates was retained by Hanscom FCU’s board to conduct a nationwide search for a president and CEO.

Photo caption: Peter Rice, third from left, Hanscom Federal Credit Union’s new president/CEO, attends an employee training session at the credit union’s Dorchester (Mass.) branch.