Ed Danek, CPA, has served as president and CEO of Hartford Federal Credit Union (HFCU) for the past 35 years, since his appointment in 1990 at age 28. As CEO, he oversees and is responsible for all credit union activities.
Under Danek’s leadership, HFCU has received five-star (superior) ratings from BauerFinancial Inc. for 34 consecutive years, placing it in the 95th percentile of all credit unions nationally. He has over 60 years of combined independent board experience and is active in the philanthropic community.
He has also served as an advisor to the Federal Reserve Bank of Boston and president of the Credit Union Executive Society Council — New England.
What have been your biggest professional accomplishments over the past year? I am proud that the credit union’s record core net income has enabled us to extend Hartford Federal Credit Union Gives, our charitable initiative through which we have donated more than $300,000 to food banks, fuel banks, women’s shelters, homeless shelters and veterans’ causes to name a few.
Other notable accomplishments were hiring an outstanding young professional to be our chief financial officer and identifying a worthy successor to me when I retire in March. Our credit union is in great hands.
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In what ways are you involved in the community?
I serve or have served on nonprofit boards for such organizations as St. Francis Hospital Foundation (25 years), Catholic Charities (10 years) and American International College (four years). As an avid supporter of youth basketball, I have coached travel, CYO, high school summer league, and AAU basketball teams in addition to serving as a lector at Holy Family Church for 31 years.
On the Job
Guiding business principle: Do it right with all your might!
Best way to keep your competitive edge: Constantly forcing myself out of my comfort zone.
Best business decision: To work for a credit union for the past 35 years and not be tempted by lucrative opportunities that would limit my ability to help people of modest means.
Worst business decision: Not taking enough risks early in my career.
Biggest missed opportunity: Early on, assuming development-stage products or services that appealed to me would have broad-based appeal to our membership.
Goal yet to be achieved: Seamlessly transitioning CEO duties to my talented executive vice president when I retire in March.
Personal touch in your office: An antique tool from my father’s home workshop that is emblematic of how hard he worked to ensure I would be a first-generation college graduate. Replica of the “PLAY LIKE A CHAMPION” sign hanging in the University of Notre Dame football locker room.
Personal Side
Place of residence: Suffield
Favorite way to relax: Spending time with family and golfing. Getting silly with my family and golf buddies is therapeutic, as well!
Hobbies: Golf, investing in emerging technologies, fitness and time with family and friends.
Last vacation: Winter trip to Vero Beach and Celebration, Florida.
Favorite movie: “Stripes”
The car you drive: Lexus LS 500
Currently reading: “Younger Next Year,” by Henry Lodge and Chris Crowley, and “It’s Not an Option,” by John and Pete Najarian.
Favorite cause: Anything related to the fight against food insecurity along with Smile Train, an international charity providing corrective surgery for children with cleft lips and palates.
Second choice career: Equity portfolio manager