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Banking Kent County News

McCarthy officially named Del-One CEO

Katie Tabeling
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DOVER — With less than two months since changing its leadership, Del-One Federal Credit Union has named Daniel McCarthy as its permanent president and CEO.

Del-One Federal Credit Union has named Daniel McCarthy as its permanent president and CEO after serving as the interim leader.

Dan McCarthy | PHOTO COURTESY OF DEL-ONE FCU

McCarthy served as the organization’s interim leader after then-CEO and President Ron Baron departed in December 2023. The Del-One Board of Directors made the appointment permanent on Jan. 25. The previous CEO, Ron Barron, told the Delaware Business Times he retired  after 40 years with the federal credit union.

“Dan is a dynamic and thoughtful leader who has a proven track-record of execution and improving culture,” Del-One Board Chair Steve Smith said in a statement. “[The Board] looks forward to working collaboratively with Dan and his leadership team to fulfill our mission of being the easiest place to work with for our members.  We are excited about our future and know that our 81,000 members are in good hands with Dan and all of our amazing teammates.”

McCarthy had served as the credit union’s chief human resources officer and chief administrative officer since 2019 before he was tapped for the top job. His resume includes key roles in human resources at The Ingerman Group and the Buccini/Pollin Group. He also serves as the vice chairman on Delaware Hospices’ board of trustees.

“This is the greatest honor of my career and a direct reflection of the hard work and commitment of the incredible teammates who make Del-One such a special place,” McCarthy told the Delaware Business Times. “I am energized to know the impact we are going to make in our members’ lives and the fact that we are just getting started.”

Founded in 1960 as Delaware Highway Federal Credit Union, Del-One FCU is now the largest credit union in Delaware. It serves more than 80,000 members and handles more than $657 million in assets.

In a previous interview with DBT, McCarthy pointed to the recent investments in digital service, such as the recent announcement with Shastic, an artificial intelligence and cloud-based system to boost loan funding speed by contacting applicants and transferring data, as new ways to leverage technology to assist its staff and employees. Del-One is still investing in brick-and-mortar locations, looking to open its 12th branch in Lewes in 2024.

MCarthy lives in Clayton with his wife, Kate, and three boys, Danny, Tucker and Max.

Editor’s note: This story has been updated to include that previous Del-One CEO Ron Barron had retired from the organization.

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