Photo Courtesy of St. Mary's Credit Union
After announcing that it plans to merge with MetroWest Community Federal Credit Union, St. Mary’s Credit Union has named a prominent regional bank executive to lead it on a permanent basis.
Former M&T Bank regional president Grace Lee is the new president and CEO of the Marlborough-based credit union. The move was first reported by The Boston Globe, which reported that Lee left M&T Bank to be better able to balance work and family.
“St. Mary’s is a best-in-class institution,” Lee said in a statement. “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.”
In addition to overseeing M&T Bank’s extensive operations in Eastern Massachusetts, Lee led the M&T Charitable Foundation’s efforts, which contributed $3.3 million to nonprofits in the state and oversaw 12,600 hours of employee volunteer work in 2023, alone.
Before her M&T post, she held leadership roles with the former People’s United Bank – now part of M&T – the law firm of Eckert Seamans Cherin & Mellott, and the office of the Massachusetts state treasurer. Lee also served as a civil rights attorney for the federal Department of Education’s Office for Civil Rights, and as chief of the civil rights division for the Norfolk County District Attorney’s Office.
“Grace brings a rare blend of executive leadership, government insight, community passion, and deep operational expertise,” Jerry Richer, chair of the St. Mary’s Credit Union Board of Directors, said in a statement. “Her understanding of both systems and people will be an asset leading St. Mary’s Credit Union into its next chapter.”
Jim Petkewich has been the credit union’s interim president and CEO since July 2024. He will now be St. Mary’s chief operating officer.
“We are very grateful to Jim for his steady leadership during this transition period,” Richer said. “He is and will continue to be a valued leader on our team.”
Post-merger, St. Mary’s Credit Union will have assets totaling $1.15 billion and will serve more than 62,850 members with eight branch locations. Pending final regulatory approval, the merger is expected to be completed by early 2026.
