May 15, 2021
American Eagle Financial Credit Union (AEFCU) today announced that the president and CEO of the nonprofit, Dean Marchessault, will retire at the end of 2021, allowing for a transition process over the next seven months. Dean’s decision to retire will end 22 remarkable years of service with Connecticut’s largest community credit union, including seven as President and CEO.
âThe Board of Directors and I would like to thank Dean for his decades of dedicated service to American Eagle Financial Credit Union, particularly for his leadership as President and CEO,â said Michael P. DePasquale, Chairman of the Board of Directors. the directors of the AEFCU. âDuring his tenure as President and CEO, Credit Union‘s asset size nearly doubled to $ 2.3 billion, and Dean was instrumental in increasing recognition of American Eagle as a leader and significant contributor to the community. We thank Dean for guiding American Eagle to the high success it enjoys today. We wish him all the best and a long and healthy retirement.
While Marchessault was President and CEO, the membership and footprint of the credit union also grew exponentially. AEFCU currently provides banking services to over 160,000 members and opened its first office in New Haven County while obtaining approval to expand its membership scope in Western Massachusetts in 2019. Under his leadership , the Credit Union has remained committed to fulfilling its mission of enriching the lives of its members and communities. In 2020 alone, AEFCU’s monetary contributions were just under $ 300,000 and included grants from the American Eagle’s Donor-Advised Fund to the Hartford Foundation for Public Giving, corporate sponsorships and donations. general as well as those derived from the AEFCU. Cash back to the community program.
Over the past few years, Marchessault has won several honors as a business and community leader, including a C-Suite award from the Harford Business Journal in 2020, and the Connecticut River Valley Chamber of Commerce Business Person of the Year award in 2018. In 2019, AEFCU was named one of the âBest Places to Work in Connecticutâ by the Hartford Business Journal.
âBeing President and CEO of AEFCU has been a great honor and words cannot express how I feel for our American Eagle family,â said Marchessault. “I thank the Board of Directors for allowing me to lead such an amazing organization, and I want to express my immense gratitude to the employees of AEFCU for all the success they have helped our credit union achieve, and for their dedicated service to our members, especially after a difficult year. This transition will be bittersweet for me, but I know it will be smooth thanks to the amazing team we have in place. “
In mid-2020, Marchessault notified his intention to step down from the board of directors. Based on the organization’s ongoing succession planning process and after careful deliberation, American Eagle has selected Howard Brady to be the next President and CEO of Credit Union. Brady has been Senior Vice President and Director of Loans for American Eagle Financial Credit Union since 2015.
“We are confident that Howard will provide the necessary leadership for Credit Union to continue on the path to success, and we congratulate him on his promotion and new responsibilities,” said DePasquale.