HYANNIS – The longtime president and CEO of The Cooperative Bank of Cape Cod is retiring after 47 years with the financial institution.
Joel Crowell made the announcement last week.
He joined the bank in 1968, rising through the ranks of teller, assistant branch manager, treasurer and Chief Financial Officer and eventually President and CEO in 1983.
“I’ve had the honor of serving as President and CEO for over 33 years,” Crowell said in a statement.
“The Bank’s success is the natural result of loyal customers served by a wonderful, personable, enthusiastic group of officers and employees who are led by a thoughtful, engaged Board of Directors,” he said.
After graduating from Dennis-Yarmouth Regional High School in 1968, Crowell attended Northeastern University where he studied business and accounting.
During that time, he also started his career at the bank, working as a teller at the East Dennis branch.
After graduating, he served for many years as Assistant Branch Manager, then Treasurer and Chief Financial Officer, and was named President and CEO in 1983.
During Crowell’s tenure, the Cooperative Bank of Cape Cod has grown from $21 million in 1968 to $69 million when he became President and CEO to $875 million today.
Crowell said the bank’s board is committed to finding a CEO who will be involved in the community and will work to keep Cape Cod a desired place to live, work, visit, and play.
He also emphasized the bank’s commitment to remain an independent, mutual institution.
Crowell will remain in his current role until a successor is named.
In addition to his work in the bank, Crowell has been involved in providing guidance and support to numerous local institutions and non-profit organizations in various capacities as a board member, trustee, chairman, director or volunteer.
He has been an active member of the Cape’s business and philanthropic communities, currently serving on the Board of Directors for the Cape Cod Chamber of Commerce, the Cape Cod Needy Fund, the Board of Trustees of Cape Cod Academy, and director and past chair of Cape Cod Healthcare.
He is a trustee and the president of the Kelley Foundation and was awarded the Outstanding Business/Organization of the Year on behalf of the Bank at the 2012 Philanthropy Day award ceremony.
The same year, Crowell received the Community Bank Heroes Award sponsored by the Banker & Tradesman. In the past, he has also been active on the boards of such organizations as Cape Cod Museum of Natural History, Cape Cod Foundation, Coastal Community Capital (Cape & Islands Community Development, Inc.), Duffy Health Center, and Rehabilitation Hospital of the Cape and Islands (RHCI), among others.
Other awards he has received include the Housing Assistance Corporation’s Leadership with Compassion Award in 1999 and the Paul Harris award presented by the Rotary Club of Hyannis in 2014. Crowell served as a Dennis Selectman from 1978-1985, acting as chairman for three years.
His retirement will become official in early 2017.