John Lahey, president and CEO of Alterna Savings and Credit Union is to retire at the end of the year, the firm said on Wednesday.

Alterna announced that, after 36 years in the banking industry, including more than five as president and CEO of Alterna Savings and its subsidiary, Alterna Bank, Lahey is to retire on December 31. The firm’s board has started the process of appointing a committee to find his replacement.

Before joining Alterna, Lahey spent six years as president and CEO of Hamilton, Ont.-based FirstOntario Credit Union. He came to the credit union sector with almost 25 years at CIBC, including a stint as senior vice president and chief operations officer in the e-commerce division.