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ESL Federal Credit Union president and CEO Faheem Masood will retire next April, the company said today. Tom Rogers, ESL chief operating officer, has been named as his successor.
Masood first began his career with ESL in 1991 as a senior financial analyst, rising through the ranks before being appointed president and COO in 2013. He assumed leadership of the financial institution in 2016, succeeding David Fiedler.
Under Masood, the credit union experienced a period of sustained growth, with an increase of over $4 billion in financial assets, six new branches in the Rochester area, and an addition of approximately 113,000 new members. ESL employs 950 people in the Greater Rochester area. Its assets surpass $9.8 billion.
“I’m going to miss our employees and being part of such a values-driven organization that truly cares about each other, our customers, and the community,” says Masood. “ESL has been my professional home since 1991, and I have been consistently amazed by the exceptional work accomplished by my fellow employees throughout my time here.
“I’ve been fortunate to witness so many profound and impactful positive changes,” he adds. “I feel confident I’m leaving the organization in a strong position to continue to grow and prosper, and am delighted that Tom will be leading us into the future.”
In 2017, ESL became the first credit union in New York to create a trust company subsidiary, offering a variety of trust services, including investment management and estate planning. Two years later, the credit union acquired Cooper/Haims Advisors, adding to its wealth management services.
“With the needs of the market ever-changing, having the Cooper/Haims team join the ESL family greatly improves our wealth management team’s capabilities of addressing those needs for our clients while providing the high-quality customer experience we are known for,” Masood said at the time.
ESL’s commitment to the region, through its charitable foundation, has grown over the years. In February, the foundation said it had awarded $3.2 million (through 91 grants) to organizations providing services and programs for individuals and families in the community during the fourth quarter of 2024. (More recent data is not available.) Typically, the foundation awards roughly $20 million annually.
Rogers, who currently oversees ESL’s finance department and product development and marketing, is expected to continue in that stead.
“ESL is an exceptional organization, and it will be an honor and privilege to serve as its president and CEO,” said Rogers. “Faheem has been a remarkable leader, and during his tenure, we have not only grown significantly, but have done extensive, impactful work to live up to our purpose to help our community thrive and prosper.”
ESL director Erin Tolefree calls Rogers an ideal successor to Masood.
“Faheem will be leaving a lasting, impactful mark on this organization. His commitment to ESL, its employees, customers, and the Greater Rochester community are felt by us all,” she says.
Masood, who is an active community member, plans to remain engaged with those efforts after retirement.
Narm Nathan is a Rochester Beacon contributing writer and a member of the Oasis Project’s inaugural cohort.
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