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Caulfield Resigns From St. Mary’s CU Amid ‘Strategic Issues’

Jun 8, 2012 | Reprints | Unlock Link | Print

John R. Caulfield is stepping down as president and CEO of Marlborough-based St. Mary’s Credit Union, effective June 22.

Caulfield has led St. Mary’s since May 2007, but "his reason for leaving is related to strategic issues and direction," a St. Mary’s executive told Banker & Tradesman. "It wasn’t a sudden decision. It came after a lot of thought and consideration," he said.

St. Mary’s is a $600 million credit union. In Caulfield’s absence, it will be led by former CEO Thomas M. Wellen. Wellen is currently a director and will serve as interim CEO until the board hires a permanent chief executive.

In a prepared statement, St. Mary’s said under Caulfield it has "achieved significant deposit and loan growth, improved profitability, introduced commercial lending and other services and invested in select internal programs that resulted in high levels of member satisfaction."

Banking & Lending