Joan Dunn Hendrickson serves as treasurer of the Town of Darien, Connecticut, a position she has held for 18 years. Elected every two years, she has won nine consecutive elections, demonstrating the trust and confidence of the community that has placed her in leadership. She manages the Town of Darien’s short-term investments by investing its tax receipts to earn additional income before those funds are allocated to public expenditures. She also helps to oversee the town’s fund balance, a critical reserve for emergencies such as storms or natural disasters. Her financial oversight along with others helps ensure that the town maintains fiscal stability, managing investments of approximately $120 million every six months. She determines the size, amount and placement of short-term investments adhering to state statutes regarding municipal investing and the strategy behind the investment portfolio.
Raised in Longmeadow, Massachusetts, Ms. Hendrickson was determined to venture forth and to build a strong academic foundation for herself by obtaining a bachelor’s degree at Simmons University in Boston. She graduated with distinction and as a member of the Academy, the Honor Society at Simmons University, recognizing the top two percent of graduates. While at that institution, she was also elected student government president and honored with the Robert Rankin Award. She went on to earn a Master of Business Administration from Wake Forest University as a First Union scholar, receiving a full scholarship and a job offer from the First Union Corporation upon graduation. Additionally, she completed an International Banking program at the Darden School of Business at The University of Virginia.
Expanding upon her extensive background in business and finance, Ms. Hendrickson’s career spans several decades in the banking industry. She was credit-trained at Chase Manhattan Bank and First Union Bank before working in lending and product specialist roles at Rhode Island Hospital Trust Bank and First Chicago’s trade finance division. She later joined Daimer-Benz Interservices (debis) and became the head of credit for several businesses globally, including enterprises in the fields of construction, industrial and medical units. Additionally, she was chief of U.S. strategy for debis developing business strategies and acquisition opportunities before Daimler-Benz merged with Chrysler leading to debis’ dissolution.
Beyond her professional responsibilities, Ms. Hendrickson stays involved in her local community. She volunteers with non-profits, participates in politics, and works with The Scholarship Fund in Springfield, Massachusetts, originally implemented in 1943 in memory of her grandmother. The Scholarship Fund, now part of a larger endowment, offers financial aid to worthy, college-bound, high school students and continues the aid for four years of college. Ms. Hendrickson is the third generation of her family to serve on the Scholarship Committee as an active member and/or advisor. She has served on the board of the Darien Nature Center, participated in various panels as a speaker at a local non-profit and worked on the investment committee of a religious organization. Additionally, she mentors high school and college students with internships through her office fostering the next generation of financial professionals.
Ms. Hendrickson takes great pride in navigating financial markets and economic cycles. Her deep market knowledge and strategic decision-making have allowed her to generate significant returns for the town, including earning nearly $5 million in investment income last year. However, changing interest rates and economic environment factors have made achieving similar results more challenging, requiring careful risk assessment and financial foresight. Unlike commercial trading ventures, she never risks losing funds, as the money she manages consists of taxpayer dollars already designated for specific municipal purposes. Despite the pressures of her role, she remains committed to ensuring the town’s economic health. Also, unlike investment bankers or hedge fund managers, she must follow strict municipal regulations prioritizing security over risk. She embraces this responsibility knowing that sound financial management benefits the entire community.
Looking forward, Ms. Hendrickson hopes to continue serving the town she calls home. Though other municipalities have approached her for similar roles, she has no interest in leaving Darien. She finds deep fulfillment in contributing to her community, following in the footsteps of her husband and son who have dedicated their lives to public service as well as commercial activities. For her, success is not measured in personal accolades, but in the lasting impact on the town and its residents.