Kozak retires from PCU after building R.I.’s largest credit union

AFTER LEADING PAWTUCKET CREDIT UNION for 24 years, Karl A. Kozak retired Thursday. / COURTESY PAWTUCKET CREDIT UNION
AFTER LEADING PAWTUCKET CREDIT UNION for 24 years, Karl A. Kozak retired Thursday. / COURTESY PAWTUCKET CREDIT UNION

PAWTUCKET – Pawtucket Credit Union President and CEO Karl A. Kozak retired on Thursday after 24 years of growing a financial institution that today is the state’s largest credit union.

George J. Charette, formerly an executive vice president of PCU’s management team, is succeeding Kozak as president and CEO effective immediately, according to the credit union.

“During Karl’s tenure, the growth and market expansion of Pawtucket Credit Union is a testament to his vision and leadership,” Charette said in a prepared statement.

Kozak joined Pawtucket Credit Union as its president and CEO in 1991. At the time PCU had one branch with $120 million in assets and 29 employees. Today Kozak enters retirement leaving PCU a $1.7 billion financial institution with 15 branches employing 250 people.

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Kozak could not be immediately reached for comment on Thursday, but a credit union spokeswoman said they were celebrating his retirement.

He will remain on in an advisory capacity on the board of directors.

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