Larissa Thurston
Marlborough-based St. Mary’s Credit Union will have its first female leader later this year when Larissa C. Thurston becomes president and CEO.
Thurston will replace James C. Garvey, who plans to retire after eight years as St. Mary’s Credit Union’s president and CEO and 40 years in the financial services industry, the credit union said in a statement. Thurston, who is currently St. Mary’s Credit Union’s chief operating officer and chief financial officer, will take over on Oct. 1.
Thurston joined St. Mary’s Credit Union as CFO in 2014 and has more than 20 years of banking experience, including banking strategy, finance and operations. Her responsibilities as COO and CFO include planning and management for technology, marketing, human resources, deposit operations, compliance and finance plans and programs.
Before joining St. Mary’s Credit Union, Thurston was vice president and controller for Bank of New England where she developed contingency funding plans, implemented risk management programs and policies, managed an acquisition and oversaw the development of five new branch locations.
“Larissa has demonstrated extraordinary leadership over the years and the board is impressed with her dedication to our mission of being here for our members,” Gerard P. Richer, St. Mary’s Credit Union’s board chair, said in the statement. “Her years of experience in financial services and her commitment to make our communities a better place for all will serve St. Mary’s Credit Union well in the years ahead.”
Richer also expressed gratitude to Garvey “for his years of exemplary service and dedication to the credit union.”
“Under his outstanding leadership, St. Mary’s Credit Union experienced extraordinary growth, achieved its highest member satisfaction survey results, reinvigorated our brand in the marketplace, and oversaw the development of several new branches in our service area,” Richer said. “We wish Jim the best in his well-deserved retirement.”
James Garvey
Thurston is on the Federal Home Loan Bank of Boston’s member advisory panel. She is also a member-at-large on the board of directors’ executive committee at the United Way of Tri-County, treasurer on the Boys & Girls Club of MetroWest board of directors and mentor in the Read to a Child program at the Richer Elementary School in Marlborough.
“It is truly an honor to lead St. Mary’s Credit Union as we continue to grow our products and technology while maintaining the friendly, reliable service our members have come to know and trust for more than 100 years,” Thurston said. “I thank the board for the opportunity to lead St. Mary’s Credit Union and to Jim Garvey for his support and mentorship. I am looking forward to maintaining our strong commitment to our members and to our communities.”
St. Mary’s Credit Union was founded in 1913 and has $975 million in assets. Its field of membership includes all of Middlesex, Worcester, Norfolk, and Suffolk counties.
