- by Mount Saint Mary College
Mount Saint Mary College

Left to right: Ron Flaherty, president & CEO of TEG Federal Credit Union; and Lou Bach ’82, president of Spectrum Pension and Compensation, Inc. 


Join Mount Saint Mary College for its 13th Annual Leadership Gala Reception, celebrating two pillars of the local community, on Friday, December 2. 

Mount alumnus Lou Bach ’82, president of Spectrum Pension and Compensation, Inc., and Ron Flaherty, president & CEO of TEG Federal Credit Union, will be honored with the Joseph A. Bonura Award for Leadership Excellence.

The gala will take place at 6 p.m. in the Kaplan Family Mathematics, Science and Technology Center on campus, 330 Powell Avenue, Newburgh, N.Y. To purchase tickets, contact Kathleen Barton, Director of Advancement Events, at or at 845-569-3609. You may also purchase tickets online at

The Joseph A. Bonura Award for Leadership Excellence recognizes individuals or organizations whose professional accomplishments, service to the community, and leadership reflect the same commitment to quality, concern for neighbors, and shared prosperity that have exemplified the career and character of local restaurateur Joseph A. Bonura.

All donations and net proceeds support the Annual Gala Endowed Scholarship Fund. This scholarship is awarded to academically strong students with financial need, with preference given to students pursuing a degree in Business. Thanks to support from last year’s Gala, we have two current Mount students who received the Gala Scholarship and are able to continue their college education. Mount scholarships provide an affordable, values-based education to thousands of deserving students, many of whom are among the first in their families to attend college.

For more information regarding gala sponsorship and message opportunities, email, call 845-569-3609, or visit


Lou Bach ‘82

Bach is the youngest of two children of ethnic German immigrants, Ludwig and Hildegard Bach, who immigrated to the United States in 1956. Lou has an older sister, Susan, who also graduated from MSMC in 1982.

Upon graduating from the Mount, he was fortunate to begin a career where he could use his Business degree and his mathematics skills, working for an Employee Benefits Consulting, Administration and Actuarial Services firm. This experience created the background and experience necessary for Bach to begin Spectrum Pension and Compensation, Inc. in 1994 and later add Summit Actuarial Services, LLC in 2002.

Bach is married to Maureen and is the proud father of four children; Ludwig M. Bach, Amelia Barry, Adam Bach, and Megan Bach, and the very proud grandfather of Ludwig W. Bach, Landon Bach, Liam Bach, and Jemma Barry.

Bach’s connection to Mount Saint Mary College spans more than 40 years, including serving as Chairman of the Golf Committee for many years and serving on the Board of Trustees from 2003 through 2012. Currently, he is a member of the Advancement Committee and is dedicated to assisting the Mount in charting its path into the future.


Ron Flaherty

Flaherty attended American International College in Springfield, Massachusetts, earning his Bachelor's Degree in Accounting in 1983. He married his college sweetheart, Karen Arduino Flaherty, in October 1984 and moved to Tarrytown, N.Y. since she was already employed at IBM in Armonk.

In October of 2000, Flaherty accepted a position as Chief Financial Officer at Taconic Education & Government (TEG) Federal Credit Union in Poughkeepsie. He became president and CEO in 2010 and has led the credit union since, taking it from $67 million in assets in the year 2000 to more than $410 million in 2022. Today, TEG represents much more than the original groups of teachers and governmental workers and is now a community-chartered credit union, serving over 41,000 members throughout Dutchess, Orange, Ulster, Putnam, Westchester, Rockland, and Sullivan Counties.

It is now felt that TEG represents Together Everyone Grows, which more embodies what the credit union does and who they serve. TEG is a full-service financial institution providing products and services to the communities they serve.

The organization recently established the TEG Federal Credit Union Endowed Scholarship Fund at the Mount through a gift of $25,000. This scholarship is given to deserving Mount teacher-candidates.

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