Banking

CEO of American Eagle Financial CU to retire

Dean Marchessault, the longtime president and CEO of American Eagle Financial Credit Union, will retire at the end of the year.

Marchessault will be succeeded by Senior Vice President Howard Brady as the chief executive of the $2.3 billion-asset institution in East Hartford, Connecticut, according to a press release Monday.

Brady has served as senior vice president and chief lending officer at American Eagle Financial CU since 2015. The transition will take effect Jan. 3, 2022.

“Dean has been instrumental in increasing American Eagle’s recognition as a leader and significant contributor within the community,” Chairman Michael DePasquale said in the release. “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.”

Marchessault has worked at American Eagle Financial CU — Connecticut’s largest community credit union — for 22 years, including the last seven as president and CEO.

During Marchessault’s time at the helm, the credit union’s membership has grown to more than 160,000 members. The credit union recently opened its first office in New Haven County.

The company was granted approval to expand its field of membership into western Massachusetts in 2019.

“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. “This transition will be bittersweet for me, but I know that it will be seamless thanks to the amazing team we have in place.”



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