David Desjardins, who has been the president and CEO of Acadia Federal Credit Union for 20 years, will retire July 1, 2025.

Desjardins joined the Fort Kent, Maine-based credit union as a volunteer board director in 1995 and was named its chief executive in 2004, the company said in a press release.

Under Desjardins’ leadership, Acadia FCU successfully navigated four mergers: three in the St. John Valley and one in Bangor.

One of those tie-ups was with Eastern Maine Medical Center Federal Credit Union in 2017.

“Every decision I made was aimed at ensuring the long-term success of the organization. I am extremely proud of our collective achievements and deeply grateful for the unwavering support of our members, staff, and board of directors,” Desjardins said in the release.

He will be replaced at the helm of the $365 million-asset organization by Joey Cannan, the current executive vice president who joined the organization in 2021.

Prior to joining Acadia, Cannan was director of operations for Bangor Savings Bank.

He has served under Desjardins’ mentorship since joining Acadia, and the organization said it is planning for a seamless transition.

The National Credit Union Administration earlier this month approved a proposed rule that would require federally-insured credit unions to establish succession planning for key positions in their organizations.

When Desjardins took the reins in 2004, Acadia’s membership was at roughly 4,000 with one branch. Today, Acadia FCU has more than 17,000 members with eight branches and a ninth – to be built in Presque Isle – in the works.

Acadia FCU earned roughly $1.7 million through the second quarter of 2024, a 30% increase from a year earlier, according to call report data from the NCUA.

“Dave has given us over 20 years of outstanding leadership. The legacy Dave leaves behind will forever serve as an example of the positive impact a credit union can have on the people of Maine.”

 – Mary McCarthy
Board Chairperson
Acadia Federal Credit Union