BURLINGTON, Mass.–Jane Melchionda, the first and only president and CEO of Eastern Corporate FCU, has announced plans to step down in the first quarter of 2022.
The $1-billion EasCorp has named Cynthia Nelson, who is currently executive vice president, to succeed Melchionda.
“Jane is a once-in-a-generation leader. Literally,” said David Sprague, board chairman, in announcing the change. “She worked to organize EasCorp in 1978 and remains the company's first and only CEO throughout its eventful 43-year history. From a modest two-person operation in the early days, she has led EasCorp’s growth and development to the modern, complex, and sophisticated organization it is today, overcoming challenges and the occasional setback along the journey.”
Sprague, who noted Nelson joined EasCorp as a part-time loan analyst in the last 1980s before moving up through the ranks, added that the board is “confident Cindy will retain the cultural values and service commitment to east core members that explain the corporate credit union’s popularity for so many years.”