Marchessault of American Eagle retires; Senior Vice President Brady named successor
American Eagle Financial Credit Union, Connecticut’s second-largest credit union, based in East Hartford, announced Friday that President and CEO Dean Marchessault will retire at the end of the year.
Marchessault’s successor will be Howard Brady, who has been a senior vice president and chief loan officer at American Eagle since 2015, the credit union said.
Marchessault has worked for American Eagle since 2003 and was appointed COO several years later. He was promoted to his current position in January 2015, succeeding William J. Dokas.
In the six-plus years that Marchessault has been at the helm, American Eagle has grown its total assets from just over $ 1.3 billion to nearly $ 2.2 billion. The number of its members during this period has increased by approximately 46%, from 107,507 to 157,426 in the first quarter of this year.
In 2017, the institution purchased its East River Drive headquarters for $ 6.6 million.
Marchessault also oversaw a 2019 cross-border expansion of American Eagle’s membership territory in Massachusetts – a first for a Connecticut credit union.
Marchessault was the winner of the Hartford Business Journal C-Suite Awards in 2020.
As American Eagle announced Marchessault’s impending retirement on Friday, he informed the board of directors of his intentions in mid-2020, several months after the COVID-19 pandemic, giving his employer time to prepare .
Michael P. DePasquale, chairman of the board, said in a statement that the board is “confident [Brady] provide the necessary leadership for the credit union to continue on the path to success. “