Chris Kowal to succeed longtime CEO Larry Nichols, leading MDT into its next phase of growth

FARMINGTON HILLS, Mich.: MDT, a CUSO that helps credit unions navigate complex financial technology ecosystems, today announced that current CFO Chris Kowal will take the seat as CEO replacing longtime CEO Larry Nichols as Larry heads into retirement. The transition will be effective, April 1, 2025.

Patrick Spyke, LAFCU CEO and board chairman of MDT, explained, “Chris has played a pivotal role in MDT's success over the past 16 years. As a dynamic Chief Financial Officer, he has consistently exceeded the expectations of his traditional CFO responsibilities. The MDT Board holds the utmost confidence in Chris’s leadership.”

“These past 22 years have been a wonderful ride; together, we have built something special, an organization that truly cares about the credit union community and empowers them with the tools and resources needed to succeed. MDT’s future looks extremely bright, and Chris is the perfect fit to lead this next era,” said Nichols

Nichols led the team that established MDT 22 years ago with five investing credit unions that came together to form a CUSO that enabled credit unions to share IT costs and succeed together. Since then, the organization has grown and evolved, now serving as a strategic partner to over 100 credit unions across the country, representing nearly two million members. Kowal has been critical in this journey for the past 16 years, most recently serving as CFO. In this role, he has played a critical role in strategic planning, corporate financial reporting, strategic partnerships, vendor management, growth projects and more.

“MDT has an incredibly talented team, strong partners and a robust client community; I am proud of all that we have accomplished over the past several years and am energized about what comes next,” said Kowal. “Moving forward, MDT is bringing together our dedication to client centricity, our comprehensive suite of products, our sophisticated security and compliance layer, and our consultative approach to help credit unions remain the preferred institution for their members. I’m looking forward to helping MDT and our credit unions navigate this exciting time in the industry.”

About MDT

MDT helps credit unions navigate complex financial technology ecosystems, ensuring they remain institutions of choice for members. In addition to hosting the Symitar core processing system from Jack Henry™, MDT offers access to a wide range of solutions to run the institution, providing credit unions with the tools and solutions they need to compete and grow. Leading with a commitment to client service, security and compliance, MDT supports over 100 credit union clients with cloud-environment solutions, robust consulting solutions and solutions that enable effective digital transformation. With MDT, credit unions across the country are more effectively accessing and implementing technology, ultimately boosting efficiencies, enhancing member service and staying ahead of the curve. Visit mdtmi.com or follow @memberdriven for more information.

Fonte: Business Wire