Affinity closes loop on succession plan

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As part of its succession plan unveiled in October 2022, Basking Ridge-based Affinity Federal Credit Union announced May 31 that John McHugh is joining the company as chief financial officer.  

McHugh takes on the role previously held by Kevin Brauer, who was named president and CEO in January when longtime leader John Fenton stepped back from the position after more than 27 years. 

The new CFO will be responsible for overseeing Affinity’s financial management and strategic planning, ensuring compliance with regulations, driving financial strategy and providing financial leadership, according to the credit union. 

“As we continue to navigate the ever-changing financial landscape with a strategic vision, we are thrilled to have John join the team to ensure the wellbeing of our members and drive sustainable growth,” Brauer said in a statement. “We look forward to leveraging his expertise to optimize our financial operations, enhance member experiences, and propel our credit union toward a prosperous future.” 

McHugh, who said he’s looking forward to working with the Affinity team, brings more than 30 years’ experience in audit, accounting, financial reporting and strategic planning. He comes to Affinity from Goldman Sachs, where he worked for nearly 25 years, most recently as chief financial officer and chief operating officer for its mortgage and credit businesses, according to his LinkedIn profile. Before that, he was an audit manager with PricewaterhouseCoopers. 

McHugh earned his bachelor’s in accounting from Fairfield University and has his Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) certifications. 

With more than 20 branches across the tri-state area, Affinity Federal Credit Union is the largest credit union headquartered in New Jersey, the company said. 

Crunching the numbers

Although a trip to the Jersey Shore will be a little bit more expensive this year, it won’t come close to last summer’s sticker shock. That’s according to Affinity Federal Credit Union’s second annual cost index.
Click here to get the vacation breakdown.