Suffolk Federal Credit Union names Ralph Spencer as CEO

Suffolk Federal Credit Union has named Ralph D. Spencer Jr. its new president and chief executive.

He was the Medford-based credit union’s executive vice president and chief operating officer. He has also served as its chief lending officer.

James J. Maggio Jr., chairman of the board at Suffolk Federal, called Spencer “an invaluable member of the credit union team” in a news release sent Monday night.

Suffolk Federal has assets of about $1 billion and 55,000 members. Membership is open to anyone who lives, works, worships, attends school or regularly conducts business in Suffolk County.