The former administrator of the National Credit Union Administration, C. Austin Montgomery, has been elected president of Credit Union Financial Services, Inc., a Washington based corporation.

Montgomery brings to the organization an extensive background in the financial area. He has served as director of financial institutions in Illinois and previously as deputy director of insurance in that state.

"Credit unions will find it increasingly difficult to attract and retain member savings and member loyalty," Montgomery said. He listed the phase-out of interest rate ceilings, intensified competition from other institutions and increased consumer awareness as factors having an impact on credit union operations.

The National Bank of Washington announced the election of Executive Vice President Frederick M. Henschel to the additional office of chief administrative officer. Paul E. Bramell was named to succeed Henschel as officer in charge of the administrative services division. Also, Bruce D. Lyons was elected to the bank's board of directors.

Robert L. Hatcher III, vice president of Chemical Bank, will join the Commodity Exchange as a senior vice president.

The capital area chapter of the National Investors Relations Institute has elected a new executive slate. Paul Paguin is president, with Bruce Benefield as executive vice president, and W. Murray Sanders as vice president. R. Jane Roth is secretary/treasurer and William M. Karnes is director-at-large.

Jon Woolley, director of information systems, has been named a vice president of Newsweek Inc.

Thomas J. Blanc has been elected vice president and trust officer of the National Bank of Washington. Other corporate changes at the bank include the election of Robert T. Sweet to vice president, Kenneth Kling to assistant cashier and assistant security officer, Kathy A. Jackson and Susan N. Jarvis to assistant trust officers, and Joyce M. Deal to assistant cashier.

J. Dunbar Jr. has been named as assistant vice president in charge of sales by Federal Armored Express Inc.

Betty Chadwick has been promoted to manager of the Laurel branch of Hugh T. Peck Properties Inc.

Hercules Inc. has announced that Samuel A. Mabry has joined its Washington office as a corporate representative.

Bob Turner has been named director of client services for MBM Associates/Advertising, Inc. of Kensington.

Daniel E. Udell has been named manager of external information for IBM's Federal Sytems Division in Bethesda.

James H. Ottaway, founder of Ottaway Newspapers Inc., a group of 20 community dailies, will retire as chairman of the firm on July 31. He will be succeeded by his son, James H. Ottaway Jr.

Neil A. Ramo, vice president for Lord & Taylor's mid-Atlantic region, will add Atlanta and Florida to his responsibilities.