Directors of Riverside Credit Union Approve Succession Plans for New CEO

Thursday 25 January 2024

The Board of Directors at Riverside Credit Union are delighted to announce that Peter MacDonagh, formerly the Operations Manager at Riverside, has now been appointed as CEO. “This internal promotion, and Peter’s progression, sit easily with our founding ethos,” says the Board.

Peter first became involved with Riverside as a junior member, then latterly as a volunteer and now as its new CEO. He is well versed in all the fiduciary duties and is awake to the responsibilities of the organisation’s future.

Stepping down as CEO, after 30-years of involvement with Riverside, Mike Knight leaves behind a multi-million-pound community-owned asset, providing ethical financial services to its thousands of members.

Reflecting on his tenure, Mike said: “Our credit union was formally registered as Speke Credit Union in 1989 with the then Registrar of Friendly Societies. We embraced the concept of ‘learning by doing’. That mindset, alongside a cooperative spirit, has got us to this point in our development.

“There are no words, though, that can express how grateful I am for the privilege of working with the staff, volunteers, and directors of Riverside Credit Union. The team and this place have been my family and home for a big part of my working life. That I got to spend time working with people so spectacularly talented and unstoppably optimistic is a piece of good luck, and I am fortunate to have made so many lifelong friends.”

“I honestly consider myself lucky to have spent my time working alongside a group of people who come together in the spirit of co-operation to support each other. My very best wishes go to Peter, our new CEO, the staff team, volunteers and directors.”

Looking ahead to the future, the directors have undertaken a full review of how best to service members’ needs when it emerges from the restrictions caused by Covid. They plan to enhance the online offer and establish a new counter service for a more rounded offering, for the “next normal”, in the refurbished Garston office.