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St. Mary's Credit Union in Marlborough
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St. Mary’s Credit Union picks former M&T Bank executive as new CEO
Photo | Courtesy of St. Mary's Credit Union
Grace Lee, CEO and president of St. Mary's Credit Union
Fresh off announcing an upcoming merger with a Framingham-based credit union, St. Mary’s Credit Union in Marlborough has selected Grace Lee as its new president and CEO.
Coming to St. Mary’s Credit Union from her role as Eastern Massachusetts regional president and group lead of New England government banking at Buffalo-based M&T Bank, Lee’s first day on the job was Monday, according to a Tuesday press release from St. Mary’s.
“St. Mary’s is a best-in-class institution,” Lee said in the press release. “I am incredibly humbled by the opportunity to lead an organization with such an outstanding reputation, which has outperformed its peers by prioritizing its members.”
Lee joins St. Mary’s after it announced on Thursday it would merge with MetroWest Community Federal Credit Union, a banking institution with a single location at 200 Concord St. in Framingham.
Lee first joined M&T Bank in 2022 as the result of it acquiring People’s United Bank, where she had worked since 2014, according to her LinkedIn profile. She is a graduate of California State University, Northridge and holds a law degree from New England Law in Boston.
At St. Mary’s, Lee replaces Interim President and CEO Jim Petkewich, who had been serving in the role since 2024 following Larissa Thurston’s departure for a role leading Jeanne D’Arc Credit Union in Lowell.
St. Mary’s Credit Union is the fifth largest credit union in Central Massachusetts, with $1.01 billion in assets and 55,850 members, according to information compiled by the WBJ Research Department. The credit union has 111 full-time employees and eight branch locations across Framingham, Hudson, Marlborough, Northborough, and Westborough.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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