The Jax Federal Credit Union board of directors announced March 2 that it and President Joseph “Joe” Nowland “have agreed to end their relationship” after he spent less than a year on the job.
It appointed Chief Operating Officer Mary Svoboda as interim president and CEO.
Jax Federal said the board is finalizing a search plan.
The board appointed Nowland as president and CEO effective April 1, 2019. He succeeded Gerri Sexsion, who retired after 21 years in those positions.
“While JAXFCU appreciates Joe’s commitment and accomplishments, the Board of Directors and Joe reached the conclusion that they had different visions for the future of the organization, and have decided to part ways,” the board said in a news release.
“Each wishes to express appreciation for the positive direction of the Credit Union during Joe’s tenure. While Joe is leaving, he is doing so on good terms, with the support of JAXFCU,” the board said.
The release said the board and staff “are certain that he will continue his successful and rewarding career within the financial industry.”
Svoboda joined the credit union as COO in 2003. The board appointed her in 2017 to the dual role of COO and Chief Lending Officer, a position designed to prepare the credit union for long-term growth and sustainability.
“Since the day Mary joined our executive team, she has earned the confidence of our employees, members and the Board of Directors,” said Charles T. McLeod Jr., board chairman.
“We are grateful for her years of service to the credit union movement, and her dedication to the credit union as we move forward in exploring leadership options.”
Jax Federal Credit Union, established in 1935, has more than 37,500 members in Duval, Baker, Clay, St. Johns and Nassau counties.
It operates nine branches, mobile and internet banking platforms, and access to more than 6,800 shared branching locations and nearly 30,000 surcharge-free ATMs nationwide.
When appointed a year ago, Nowland had 24 years of experience in the financial services industry includes positions throughout the Southeast, most recently as chief business services officer at VyStar Credit Union.
Previously, he spent most of his career in management and executive roles with First Union/Wachovia Bank on the retail and business banking side of the organization.
The board worked with DDJ Myers to conduct the national search to fill the positions.