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McDonnell Stepping Down as CEO of Navy FCU

VIENNA, Va. - At press time, Navy FCU President/CEO Brian McDonnell announced that after eight and a half years as CEO of the world's largest credit union, he will retire at the end of this year. McDonnell said he enjoyed "every single moment, but it's time to spend more time...

By Staff Writer | Updated on August 24, 2004

VIENNA, Va. – At press time, Navy FCU President/CEO Brian McDonnell announced that after eight and a half years as CEO of the world’s largest credit union, he will retire at the end of this year. McDonnell said he enjoyed “every single moment, but it’s time to spend more time with my family. I’m not one of those people who has to work until they’re 85.” McDonnell, 60, has a wife, Pat; three grown sons; and two grandsons. He has been with Navy for 35 years. During his tenure, McDonnell has seen Navy grow from $120 million to $22 billion today. The massive CU has stayed nimble under McDonnell, breaking into new areas such as business lending, trust services and insurance. It also has become a leader in providing mortgages and has one of the most successful online presences of any credit union. Credit Union Times will provide a complete story in its Sept. 1 issue.

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