MDT promotes Chris Kowal to CEO with Larry Nichols set to retire
Member Driven Technologies (MDT), a Michigan, US-based credit union service organisation (CUSO), has promoted its current chief financial officer (CFO) Chris Lowal to the CEO position, effective 1 April 2025.
Lowal will take the company reigns from Larry Nichols, who is retiring after serving as CEO since the firm’s founding in 2003.
Headquartered in Farmington Hills, MDT provides a suite of IT and banking technology services and specialises in assisting credit unions with their cloud core migrations. The company acts as an implementation partner for Jack Henry, hosting the Symitar core processing system.
The CUSO says it currently serves as a “strategic partner to over 100 credit unions across the country”.
Lowal, who has served as the company’s CFO for the past 16 years, is credited by MDT for playing a key role in “strategic planning, corporate financial reporting, strategic partnerships, vendor management, growth projects and more” during his tenure.
The announcement follows a raft of senior leadership additions made by MDT in 2023, which saw Peter Major named VP of fintech services, Greg Lanigan appointed as chief information officer, and Dan Schneider brought on as the company’s first chief project officer.