The Board of Directors of Mills42 is pleased to welcome Derek Cronin to the position of Chief Executive Officer of the credit union, effective November 2, 2020.
Derek has been in the financial services industry since 2008, when he started as a teller at Eastern Bank in Swampscott. Over the ensuing 12 years, he was promoted to teller manager at Eastern Bank, then moved to St. Jean’s Credit Union in 2013, where he was assistant manager of their Revere branch. In 2015, Derek was recruited to join Beverly Municipal Federal Credit Union as their Executive Manager/CEO.
Derek is a passionate advocate of the credit union movement in general, and of Mills42 FCU specifically. He sums up his feelings this way:
“People helping people. That is the credit union way, and it is something I believe in strongly. Over my 12+ years in the financial services industry, I have seen how larger banks operate compared to smaller credit unions. And, there is nothing like the small, local, community feel of a credit union.”
Derek goes on to relate the objectives he has in his new role as CEO:
“I look forward to continuing the Mills42 mission of, ‘Build from here,’ by ensuring every member feels that they are not just a number, as is the common perception that customers of larger banks have. Mills42 is not your average financial institution. Our mission is to help our members and our community improve financially—not to ‘nickel and dime’ them with unnecessary fees and high loan rates. We have an excellent, dedicated team of highly skilled employees and board of directors. I am thrilled to be joining them.”
Derek graduated with a Bachelor of Science degree in Business Administration from Salem State University and a Master of Business Administration from Endicottt College. He currently resides in Lynn, MA.