Connecticut CU & Massachusetts Corporate CU Appoint New CEOs

Howard Brady has been appointed president/CEO of American Eagle Financial Credit Union in East Hartford, Conn.

He succeeds Dean Marchessault, who retired at the end of last year. Over his seven years as CEO, American Eagle Financial’s assets grew from $1.3 billion to $2.3 billion, while total loans increased from $888 million to more than $1.6 billion and membership expanded from 107,507 to 172,756, according to the credit union’s Call Reports.

Brady, who took over as CEO on Monday, has served as SVP and chief lending officer at AEFCU since 2015.

“His leadership and proven performance make him a natural successor to Dean, whose tenure has produced impressive growth and success for our organization,” AEFCU Board Chair Michael P. DePasquale said in a prepared statement. “We thank Dean for his contributions and wish him all the best.”

Brady joined American Eagle in October 2014 as vice president, real estate lending.

Before he arrived at AEFCU, Brady held numerous positions in the financial, credit union, mortgage lending and ticketing industries.

AEFCU’s 328 employees operate 16 branches and a corporate office.

On Monday, Cynthia (Cindy) Nelson became president/CEO of the Burlington Massachusetts Eastern Corporate Federal Credit Union in Burlington Mass., its board of directors announced.

She succeeds Jane Melchionda, who retired.

Nelson joined the EasCorp staff in 1989 advancing steadily through the organization and served as EVP before her CEO appointment.

In his announcement letter to EasCorp’s member credit unions, EasCorp Board Chair David Sprague, who is president/CEO of the $1.7 billion Hanscom Federal Credit Union at Hanscom AFB, Mass., wrote that Nelson embodies the cultural values and service commitment to member credit unions that are the hallmark of EasCorp’s reputation.

Sprague also acknowledged Melchionda’s 43-year career as the first president/CEO of EasCorp. He credited Melchionda with leading the organization’s growth and development from a modest two-person operation in its formative days in the late 1970s to the modern organization it is today.

EasCorp and its CUSO, Vertifi Software LLC., deliver deposit, loan and investment services; ALM modeling and consulting; ACH and image cash letter processing, including remote deposit capture for both consumers and businesses; cash management services; mobile banking and statement rendering services.