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Chris McFadden is moving from her post as executive vice president, chief financial officer to take the lead at Union County Savings Bank as CEO.

The 142-year-old community bank based in Elizabeth announced McFadden’s promotion and successor March 31.

Erik Terpstra steps into the CFO role and joins Union County Savings Bank‘s executive leadership team.

McFadden brings nearly 40 years of banking experience to the chief executive post. Since joining Union County Savings Bank in 2022, she has played a key role in improving its financial strategy and overseeing operations, the financial institution said. Prior to joining UCSB, McFadden was executive vice president and CFO for NVE Bank in Englewood. Her past experience also includes serving as chief financial and chief administrative officer for Banco Popular North America.

Entering the ‘next phase of growth’

“We are thrilled to have Chris take on the role of President and CEO,” commented Colin Neill, chairman of the board, Union County Savings Bank. “Her deep expertise and leadership in the banking industry makes her the ideal person to guide Union County Savings Bank into its next phase of growth.

“We also welcome Erik Terpstra to the executive team and look forward to his contributions as CFO.”

According to his LinkedIn profile, Terpstra joins UCSB from Empire Sate Bank in Staten Island, where he served as senior vice president and CFO. Union County Savings Bank highlighted his financial management and banking operations experience.

As of Dec. 31, 2024, the most recent information available, UCSB had total assets of $1.6 billion.

A representative did not respond to a request for comment regarding when Union County Savings Bank’s former president and CEO, Joseph Yewaisis, left the role.

The New Jersey Department of Banking & Insurance lists two Consent Orders with Union County Savings Bank on its website. The most-recent, effective May 29, 2024, includes McFadden’s signature as “acting president and CFO.”

According to her LinkedIn, McFadden’s tenure as president and CEO began in September 2024.