University Credit Union Announces Succession of Longtime Board Chair Gerald Hayman, Jr.

UCU Director Peter Reid to serve as board chair

ORONO, Maine (March 1, 2021) – University Credit Union today announced the planned retirement of longtime board chair Gerald “Jerry” Hayman, Jr. after 29 years of dedicated service to the credit union. Succeeding Hayman as chair is Peter Reid, an Assistant Dean at the University of Maine who has served on the UCU board since 2016.

“It has been an honor to help University Credit Union grow from its campus roots into the modern, statewide cooperative institution it is today,” said Hayman. “Our members will continue to be in the very best hands with my colleagues on the board and our President and CEO, Renee Ouellette.”

Hayman joined the UCU board of directors in 1992 and has served as chair since 2011. In 2017, UCU celebrated the 50th anniversary of its founding on the University of Maine campus in 1967 – a milestone which Hayman was proud to help celebrate.

Reid formally succeeded Hayman as chair of the UCU board of directors, effective February 24, 2021. Professionally, Reid is the Assistant Dean of the College of Natural Sciences, Forestry and Agriculture at the University of Maine. Previously, he worked for the University of Maine System Office between 2005-2008, and prior to this worked at the University of Maine in athletics, admissions, and student records for 18 years. Reid earned an MBA from the University of Maine in 1989 and a B.A. in Computer Science from the University of Maine in 1985.

“On behalf of our members and my fellow board directors, I want to thank Jerry for his years of leadership and contributions to the credit union and wish him well. Over the past year, with Renee Ouellette taking over as President and CEO, we have opened an exciting new chapter of UCU’s history, and I look forward to building on the services and experience that UCU has been providing to its members for more than 50 years,” said Reid.

About University Credit Union
Established on the University of Maine campus in 1967, University Credit Union is an innovative, full-service financial institution with a mission to advance the financial well-being of our members in every stage of life. UCU is the sixth largest credit union in Maine in terms of total assets and total members. UCU has eight retail locations across the state located in Orono, Bangor, Farmington, Gorham, Portland, and Presque Isle. For more information, please visit