SouthPoint Financial Credit Union CEO retires, announces future plan

SouthPoint Financial Credit Union CEO retires, announces future plan
SouthPoint Financial Credit Union of Sleepy Eye, Minn., announced that current President and CEO Richard “Dick” Nesvold will be retiring in the first quarter of 2020. (Source: SouthPoint Financial Credit Union)

SLEEPY EYE, Minn. (KEYC) — SouthPoint Financial Credit Union announced the retirement of President and Chief Executive Officer (CEO) Richard “Dick” Nesvold Tuesday.

Nesvold had been with SouthPoint since 1989, and served as CEO since 1996.

SouthPoint’s Vice President of Retail Services, Jay Gostonczik, has been promoted to the position of Executive Vice President as part of SouthPoint’s transition plan. Nesvold will continue to be involved with Gostonczik and the leadership team to ensure a successful transition for the company.

“I am pleased our board has selected Jay to continue to build on SouthPoint’s success in strategic and innovative ways,” Nesvold said. “As a member of SouthPoint’s leadership team for the past six years and with over 20 years of credit union experience, Jay believes in putting our member-owners, employees and communities first. I am confident that his leadership will keep SouthPoint on a trajectory of steady growth, while continuing to maintain the credit union’s safety and soundness far into the future.”

SouthPoint’s transition plan includes Gostonczik first serving as executive vice president and assuming day-to-day operations, then transitioning to president and CEO upon Nesvold’s retirement in the first quarter of 2020.

"On behalf of the Board of Directors, I thank Dick for his 30 years of dedication to SouthPoint and its members,” said Board Chairman Gordie Osmonson said. “With Jay’s appointment, we are committed to the continuation of a strong financial position and excellent value to all SouthPoint members.”

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