American Eagle’s Marchessault to retire; senior VP Brady named successor
Photo | Contributed
American Eagle Financial Credit Union President and CEO Dean Marchessault.
East Hartford-based American Eagle Financial Credit Union, the second largest credit union in Connecticut, announced Friday that President and CEO Dean Marchessault will retire at year’s end.
Succeeding Marchessault will be Howard Brady, who has been senior vice president and chief lending officer at American Eagle since 2015, the credit union said.
Marchessault has worked for American Eagle since 2003 and was named chief operating officer several years later. He was promoted to his current position in Jan. 2015, succeeding William J. Dokas.
During the six-plus years Marchessault has been at the helm, American Eagle has grown its total assets from just over $1.3 billion to nearly $2.2 billion. Its membership count over that time has increased about 46%, from 107,507 to 157,426 as of 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 turf into Massachusetts -- a first for a Connecticut credit union.
Marchessault was a Hartford Business Journal C-Suite Awards winner in 2020.
While American Eagle announced Marchessault’s pending retirement on Friday, he had notified the board of directors about his intentions in mid-2020, several months into the COVID-19 pandemic, allowing his employer time to prepare.
Michael P. DePasquale, board chairman, said in a statement that the board is “confident [Brady] will provide the leadership necessary for the credit union to continue on its steady path of success.”
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