Dean Marchessault
East Hartford-based American Eagle Financial Credit Union will have a new leader next year after President and CEO Dean Marchessault retires at the end of 2021.
Howard Brady, AEFCU’s senior vice president and chief lending officer, will take over as president and CEO on Jan. 3, allowing for a seven-month transition process, the credit union said in a statement.
Marchessault has been at American Eagle Financial Credit Union for 22 years, including seven as president and CEO.
“The Board of Directors and I would like to extend our sincere appreciation to Dean for his decades of dedicated service to American Eagle Financial Credit Union – particularly for his leadership as our president and CEO,” Michael P. DePasquale, chairman of AEFCU’s board of directors, said in the statement. “During his tenure as president and CEO, the credit union’s asset size almost doubled to $2.3 billion, and Dean has been instrumental in increasing American Eagle’s recognition as a leader and significant contributor within the community. We thank Dean for guiding American Eagle to the high level of success it enjoys today. We wish him all the best, and a long and healthy retirement.”
During Marchessault’s time as President and CEO, AEFCU opened its first office in New Haven County expanded its field of membership into Western Massachusetts in 2019.
“Under his leadership, the credit union has remained steadfast in fulfilling its mission of enriching the lives of their members and communities,” AEFCU said.
In 2020, AEFCU made almost $300,000 in community contributions, including grants from American Eagle’s Donor-Advised Fund at the Hartford Foundation for Public Giving, corporate sponsorships, general donations and contributions from from AEFCU’s Cash Back to the Community program.
“Serving as the President and CEO of AEFCU has been a great honor and words cannot express how I feel about our American Eagle family,” Marchessault said. “I thank the board of directors for allowing me to lead such a sensational organization, and I want to express my immense gratitude to the employees of AEFCU for all the success that they helped our Credit Union achieve, and for their dedicated service to our members, particularly after this challenging year. This transition will be bittersweet for me, but I know that it will be seamless thanks to the amazing team we have in place.”
Marchessault had notified the board of his plan to retire last year, the credit union said. Brady was selected as the new leader through “the organization’s ongoing succession planning process, and after rigorous deliberation,” AEFCU said.
Brady has been AEFCU’s chief lending officer since 2015.
“We are confident Howard will provide the leadership necessary for the credit union to continue on its steady path of success, and we congratulate him on his promotion and new responsibilities,” DePasquale said.
AEFCU has about $2.3 billion in assets and 157,000 members, according to National Credit Union Administration data, making it the state’s largest community-based credit union. The largest credit union, Connecticut State Employees Credit Union, also about $2.3 billion in assets.
