Benchmark Federal Credit Union Celebrates Service of Outgoing President and CEO, Welcomes Successor
Benchmark Federal Credit Union, the only federal credit union to exclusively serve Chester County, is celebrating the transition to a new President and CEO.
Outgoing President and CEO David LaSala joined his successor Daniel J. Machon, Jr. on Thursday to pass along the symbolic key to Benchmark’s commitment to member service.
The celebratory ceremony was held at Benchmark’s headquarters on McDaniel Drive in West Chester on Thursday, April 11, 2019 with Benchmark board members and staff.
Earlier this year, Benchmark Federal Credit Union announced that LaSala was retiring after guiding the leadership team since 1999 and working with many staff for more than 20 years.
“David will be greatly missed by the Benchmark family,” says Machon. “He begins a well-deserved retirement filled with travel plans and more time spent with loved ones – especially his growing grandchildren.”
Dan continues, “I admire Benchmark’s personalized approach, and respect their strength of membership and legacy of financial stability. I look forward to shaping Benchmark’s future and building on the momentum it has gained since attaining its community charter to exclusively serve Chester County.”
Headquartered in West Chester and providing financial products and services for almost 80 years, Benchmark Federal Credit Union’s new President and CEO will be at the helm of its renewed core mission to serve a growing population of members whose needs can be overlooked in today’s lending climate.
“We don’t measure people by credit scores alone. Instead, we carefully listen to their stories and take into account their individual financial situations,” Machon says. “We recognize that people’s financial needs can fluctuate and must be assessed on a personalized, case-by-case basis when they seek first mortgages, home equity, debt consolidation, continuing education loans and personal lines of credit.” Machon points to Benchmark’s in-house credit committee, which meets daily to assess the unique needs of each Benchmark member seeking a loan or line of credit.
Machon, a graduate of LaSalle University, most recently served as President and CEO of Stonebridge Bank in West Chester, where he was brought on to oversee its turnaround following the U.S. financial crisis and recession. Under Machon’s leadership, Stonebridge raised capital, and attracted investors intent on sustainability. The bank’s progress culminated in a successful sale to LINKBANCORP, Inc., based in Central Pennsylvania, in October.
Machon has also served as Chief Financial Officer and Chief Operating Officer for Colonial American Bank based in Horsham, President of Keystone Savings and Loan in Philadelphia, and Chief Financial Officer at USABancShares.com, Inc. and NOVA Financial Holdings, Inc.
Since gaining its community charter in 2015, Benchmark Federal Credit Union has become a household name in the Chester County community. Benchmark supports more than 20 community events and organizations each year, provides thousands of dollars annually in college scholarships to local students and offers a free, award-winning financial literacy curriculum in more than 60 public schools across Chester County. Benchmark is the title sponsor of West Chester’s iconic professional cycling event, the Benchmark Twilight Cycling Classic, which attracts thousands of pro racing fans to West Chester each year. Benchmark also sponsors the Toyland Division of the QVC West Chester Christmas Parade.
About Benchmark Federal Credit Union
Since 1940, Benchmark Federal Credit Union has evolved to provide its members with complete financial services including free checking accounts, vacation and holiday club accounts, loans, certificates, money market accounts, and individual retirement accounts. Benchmark also offers home banking, online bill payer, account-to-account transfers (A2A), remote deposit anywhere (RDA), mobile banking (FREE apps for iPhone & Android), direct deposit, instant issue debit/ATM cards, and Benchmark Retirement & Investment Services. As of April 10, 2015, anyone who lives, worships, works, or attends school in Chester County, PA is eligible to join Benchmark Federal Credit Union. For more information, call (610) 429-1600 or visit www.benchmarkfcu.org.