Board Member's Biography

Elizabeth Hayes

Elizabeth (Liz) Hayes has served as President/CEO of Infinity Federal Credit Union since 2014.   Prior to joining Infinity FCU, Liz spent 14 years at Affinity Plus FCU in St. Paul, Minnesota, working her way up to Executive Vice President & Chief Administrative Officer.  In addition to her many years in executive leadership, Hayes' background includes expertise in Strategic Planning, Branch Operations, Real Estate, Finance/Accounting, Investor Relations, Operations, Payment Systems, Business Performance, Quality Assurance, Human Resources and Marketing.  Hayes played a critical role in Affinity Plus FCU's organic growth from $335M to $3.6B in assets under management, increasing the number of members served from 55,000 to nearly 200,000 and served for 9 years as Board Chair of the Affinity Plus Foundation.

Since joining Infinity FCU as President/CEO, Liz has led a wholesale evolution of the credit union's culture, infrastructure, technology and product offerings.  Hayes' developed and introduced MOE (Member, Organization, Employee) as a member-first strategic filter for decision-making and execution to ensure strategic alignment and sustainable results.  Under Hayes' leadership, assets have grown nearly 24% and Infinity FCU has welcomed over 4,000 new members to the credit union.


  • Selected as a Mainebiz Women to Watch in 2017.
  • Infinity FCU has been recognized as a “Best Places to Work in Maine” eight consecutive years, including each year under Hayes' leadership.
  • Recognized nationally three years running as “Best Credit Union to Work”  by the Credit Union Journal.
  • Participant at Harvard Business School on a panel moderated by HBS Professor Dennis Campbell on the topic of Open Book Management. (June 2018).
  • Participated in presenting the Affinity Plus business model to 900 1st year MBA students and professors at Harvard Business School.  (Cambridge, MA 2012)
  • Named one of Top 25 Women in Finance. (2010) Finance and Commerce Magazine.
  • Diamond Award for electronic media and advertising (2010) - “Ditch Your Bank” ad campaign.  Credit Union National Association.
  • “If we don't focus on the financials, the financials will follow”.  Harvard Business School business case on employee empowerment at Affinity Plus, written by Dr. Dennis Campbell; published by HBS in 2008.
  • “Building a Brand from the Inside Out”, written by Elizabeth Hayes, published by Callahan's Credit Union Report, June 2006.
  • Named “Woman Changemaker”. (2004) Twin Cities Business Journal


  • Member of the CUNA Committee on Consumer Protection (2016 - current)
  • Member of the Filene Research Institute Technology Advisory Committee (2017-current) 
  • Board member of CU Realty (2011-2013)
  • An alumnus of the Filene Research Institute's i3 team.  (Ideas, Innovation, and Implementation) With a passion for progressing the credit union industry through innovative change, Ms. Hayes is a member of the inaugural Filene Research Institute's I3 Group. 
  • Served on the board and an active participant at Member Gateways. Member Gateways, LLC is a national Credit Union Service Organization owned by 24 credit unions nation-wide (2003-2011)
  • Served as Chair of the Affinity Plus Foundation (2003-2012).  The Foundation is committed to promoting financial literacy and extends its outreach throughout many communities in Minnesota
  • Served on the Basilica of St. Mary's Finance Committee.  (2009-2012)


Elizabeth Hayes


Infinity FCU
Westbrook, ME

District 1, Class A

Term: February, 2023

Committee Memberships

Consumer Protection Subcommittee (Member)
Audit Committee (Member)