People’s Credit Union names McCarthy new EVP and chief lending officer

MIDDLETOWN – As the new executive vice president and chief lending officer for People’s Credit Union, Cormac McCarthy will be “leading the charge” as it continues to develop its commercial lending business, the company announced.

The credit union’s former executive vice president and chief lending officer, Lyn Dawley, retired at the beginning of the year, the credit union said.

McCarthy is “an accomplished professional with extensive knowledge and business-lending experience,” the credit union said. Prior to joining People’s Credit Union, he was vice president and chief lending officer at RTN Federal Credit Union in Waltham, Mass. Before that, he was vice president of commercial lending at East Cambridge Savings Bank in Cambridge, Mass.

People’s was the fourth-largest among 20 Rhode Island-based credit unions, with total assets of $485.8 million, according to the Providence Business News 2019 Book of Lists. People’s Credit Union was listed as having nearly 43,000 members and an annual net income of $3.3 million.

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McCarthy attended University College Cork – National University of Ireland, where he majored in psychology and geography, earning a bachelor’s degree.

“Cormac has decades of business-lending experience and his innovative, client-focused approach to helping businesses succeed make him a great addition to People’s Credit Union,” said People’s Credit Union President and CEO Ellen Ford. “He is an advanced and accomplished leader with a wealth of diverse experience.”

Scott Blake is a PBN staff writer. Email him at