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Longtime Tower Federal Credit Union CEO to Retire

Wednesday, February 1, 2017  
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Longtime Tower Federal Credit Union CEO to Retire


[Laurel, MD]— Tower Federal Credit Union President and Chief Executive Officer Martin Breland will retire on June 30 after 28 years at Tower, 22 of them as President and CEO. He led Tower through a period of sustained growth to become the largest Federal Credit Union in Maryland, with almost 160,000 members and $3 billion in assets. During this period of growth Tower built significant financial strength, growing its net worth from $50 million to $328.9 million.


Tower exists to enhance the financial well-being of its members by delivering exceptional value through excellent service, fair prices, honesty, convenience, variety, safety, confidentiality, and timeliness.  Said Breland, “It has been a joy coming to work every day knowing that the reason we are here is to help our members succeed.” During Breland’s tenure, Tower has often been recognized by independent consumer, research, and trade organizations as a leader nationally in the depth, breadth and loyalty of its member relationships as well as for providing high quality service.


Breland implemented a strategy of blending the use of technology, including ATMs, online, and mobile services with brick-and-mortar branches to conveniently meet the needs of Tower members locally and around the globe.  During Breland’s  tenure, Tower built its network of community-based branches and continuously introduced new technology-based ways for members to access their credit union. He also ensured that Tower embraced sound money management practices and delivered simple, affordable and innovative products and services.


Breland credited Tower’s board, management team and employees for the successes during his tenure. “Accomplishing all Tower has over the years has been a great team effort, with so many contributors,” Breland said. “I feel incredibly fortunate to have worked with such a tremendous group of people.”


In addition to his dedication to Tower, Breland has been an ardent supporter of expanding the role and impact of credit unions as member-owned financial co-operatives. His professional affiliations include leading, chairing, or serving on the boards of multiple credit union organizations.  He has also spoken about industry trends and issues at numerous seminars, schools and conferences over the years.


Rick Stafford, currently Executive Vice President of Member Services at Tower, will assume the role of President and CEO on July 1, 2017. “Rick is a seasoned financial services leader with 28 years of extensive experience in community based financial institutions.  He is a champion of our culture and will carry forward the mission and core values of Tower and the credit union community,”  said Breland.  “I am confident that Rick, the rest of our management team, our exceptional employees and our board will successfully guide Tower in the future by taking advantage of opportunities that lie ahead to better meet our members’ needs and  adeptly navigating any challenges that may arise. ”


"I am honored to follow Martin Breland in assuming the leadership of Tower as we start the next chapter of the credit union’s prestigious history,” Stafford said. “ We look forward to continuing to provide extraordinary member service, financial security, innovative products and value to our members.” 


PHOTO CAPTION: Martin Breland, who led Tower Federal Credit Union through over twenty years of sustained growth, will retire as Chief Executive and President in June. 



Veteran banker Rick Stafford will take the reins of Tower starting July 1.


About Tower Federal Credit Union:

Tower Federal Credit Union is a member-owned, non-profit financial institution with headquarters in Laurel, Maryland. Established in 1953, Tower is the largest federal credit union in Maryland with over $2.9 billion in assets. It provides a full array of financial products and services and serves over 155,000 members worldwide. Tower serves its local-area members with 12 branches in Anne Arundel, Baltimore, Howard, and Prince George’s counties and four branches at Fort Meade, as well as online services and mobile banking at

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