2019 Awards of Excellence - Paul Marotta
Hall of Fame (Career Achievement)
Paul Marotta has served Hanscom Federal Credit Union and the credit union movement with honor since 1976. He was first on the Hanscom FCU Supervisory Committee then served as a Director beginning in 1988. He was elected Chairman of the Board in 1992, a role he performed with distinction through May 2019.
Today, Paul continues to serve as a Director and holds the position of Chairman Emeritus, providing advice and counsel to upper management and the Board of Directors. He also serves as Chairman of the Hanscom FCU Charitable Foundation. Paul continues to set precedent for active board involvement and member volunteerism that keeps Hanscom FCU true to traditional credit union values.
Paul has served for the past 15 years as the only volunteer official on the Social Responsibility Committee of the Massachusetts Cooperative Credit Union Association. He became chairman of the committee in 2016.
During his tenure as Hanscom FCU’s Chairman, he guided the credit union through critical times, including the buildup of technology, unprecedented member growth, economic ups and downs, and some of the greatest legislative challenges the credit union movement has seen. Under his leadership, Hanscom FCU has grown from $140 million in assets, four branches, and 15,000 members to $1.4 billion in assets, 22 branches, and 91,000 members. This growth has led Hanscom FCU to issue a Loyalty Dividend for 22 consecutive years, returning more than $10 million directly to members. It consistently scores among the top credit unions in providing the highest economic value to its members. As a result, Hanscom FCU has been named Kiplinger’s Personal Finance magazine’s Credit Union of the Year in 2018 and 2019.
Paul has tirelessly engaged with credit union members and sponsor organizations. His vision led to the establishment of a Member Advisory Group that met quarterly with him and the credit union’s President and CEO. This group serves as a bridge between the credit union and its members by providing insight and feedback on issues of concern to the credit union and the credit union movement. The Advisory Group also develops volunteers, preparing them for greater leadership roles. Currently, five of the nine members of the Board of Directors and all five members of the Supervisory Committee got their start serving on the Advisory Group.
In addition, Paul established the Board Memorial Award as a way for the Board of Directors to reach out and support the communities it serves in concert with its founding principle of People Helping People. The Board Memorial Award is given annually to a volunteer group serving the community. He has inspired his peers to pursue continuing education as well with outstanding results and 100 percent participation by both Board and Supervisory Committee members.
He worked strategically to develop better ways to serve Hanscom FCU’s members. For example, he was instrumental in creating the Hanscom Insurance Agency CUSO to assist members with their home and auto insurance needs, providing significant savings and convenience.
Paul has been recognized by numerous organizations for his leadership and commitment to credit unions and the communities they serve. He has earned the Credit Union National Association’s Filene, Bergengren, Desjardins, Doig and Credit Union Leadership awards. In 2018, he was inducted into the Defense Credit Union Council’s Hall of Honor. In 2017, the National Association of Federally Insured Credit Unions named Paul its Volunteer of the Year at its 50th Annual Conference and Solutions Expo, recognizing a lifetime of commitment to the credit union movement. The Warren Group, publisher of Banker and Tradesman, honored him as a Credit Union Hero in 2015.
Previously, the National Association of Credit Union Chairmen recognized him with their prestigious Eugene Ball Award in 2014, and the Massachusetts Cooperative Credit Union Association has honored him for his work on behalf of homeless families as the recipient of its Credit Union Community Hope Initiative Outstanding Service Award.
In recognition of his dedication, the CCUA ended up renaming the award “The Paul Marotta Outstanding Service Award.”
Paul has also been recognized by the Lowell High School JROTC Program for his commitment to young people and they’ve established the “Paul J. Marotta Reach for the Stars Award” in his honor.
Paul is an avid supporter of Boston Children’s Hospital and the Massachusetts Coalition for the Homeless, as well as numerous outreach efforts that enrich local and military communities. He leads the organization of Massachusetts Coalition of the Homeless Build-a-Bed events that supply beds for children in need. These efforts include fundraising as well as volunteer bed-building gatherings that have provided dozens of beds to area families.
Hanscom Federal Credit Union won many professional awards and honors during Paul’s tenure. Under his leadership, Hanscom Federal Credit Union has twice been recognized as Air Force Credit Union of the Year, as Army Credit Union of the Year, and as the National Association of Federal Credit Unions Credit Union of the Year.
Within the select group of people who commit their lives to the credit union movement, Paul stands out as a dedicated and effective volunteer and leader. His impressive body of work and years of service have been crucial to the success of Hanscom Federal Credit Union. He has enriched the credit union industry with his passion for helping people.
All of us at Hanscom Federal Credit Union feel that Paul Marotta is deserving of a spot in the CCUA’s Hall of Fame. It’s a fitting recognition for his endless dedication, volunteerism, commitment, and effectiveness.