WARWICK, R.I.–Paul Archambault, who has led Wave Credit Union for the past 26 years, has announced plans to retire this summer. The $136-million credit union has named a successor.
Archambault has spent more than 40 years at Wave, according to the Cooperative Credit Union Association, which was the first to report the retirement.
After graduating in 1981 from Providence College, Archambault began his career at the credit union as an accounting clerk, moving up to accounting manager and then vice president. He was promoted in 1995 to president & CEO, replacing longtime President Merle Gorman and becoming the third person to lead the CU in its 83-year history.
Archambault graduated from the Credit Union Executives Society CEO Institute in 2002 becoming a Certified Chief Executive. During his career Archambault oversaw conversion to a community charter and a name change from Narragansett Electric Employee’s FCU, the opening of a new location, and three mergers.
He is the Past Chairman of the Rhode Credit Union League and served on various committees, past Special Olympics Board member, and past chairman of the Cooperative Credit Union Association Social Responsibility Committee, the CCUA said.
‘Fond Memories’
“I have enjoyed my career at Wave Federal Credit Union and met a lot of great members, staff and volunteers and have a lot of great memories,” Archambault told the CCUA. “Some of my fondest are mentoring staff and helping members buy their first car, purchase their new home or just helping put members in a better financial position. The credit union remains in a great financial position and should continue to thrive and provide the best service possible.”
Wave FCU said it has selected David P. Dupéré, EVP and COO, to succeed Archambault. Dupéré has been involved in CUs for 35 years and previously served as CEO of Bayside FCU, Bostitch FCU and Anchor FCU. He joined Wave FCU as EVP/CEOO in 2008.