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August 17, 2021

St. Mary’s Credit Union fills CEO's old job with State Street executive

Photo | Courtesy of St. Mary's Credit Union Frank Borawski, CFO and senior vice president of finance at St. Mary's Credit Union

St. Mary’s Credit Union, headquartered in Marlborough, on Monday announced it named Frank Borawski as the $972-million institution’s new chief financial officer and senior vice president of finance, filling the position left vacant when Larissa Thurston was promoted to president and CEO.

In his new position, Borawski will oversee St. Mary’s accounting, finance, investments, asset-liability management, and financial analytics functions, according to the release.

Borawski was most recently employed as vice president and lead finance officer at State Street Bank in Boston. He also held positions in the finance, treasury, and audit departments of Citizens Financial Group, headquartered in Providence with branches in Boston, and Brookline Bancorp, a holding company for Brookline Bank and Bank Rhode Island based in Boston.

Borawski’s hiring replaces Thurston's previous job, who was CFO for six years before being promoted as the 108-year-old credit union's first female chief executive officer. 

As of March, St. Mary's had $972 million in assets, making it the fifth largest credit union in Central Massachusetts.

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