Photo courtesy of St. Mary's Credit Union
After appointing Grace Lee president and CEO in August, St. Mary’s Credit Union announced that Lee will leave the credit union on July 1.
She will be replaced by Jim Petkewich, effective immediately, the credit union said. The reason for her sudden departure wasn’t immediately clear.
Petkewich is currently chief operating officer at the credit union. He was also the interim president and CEO from July 2024 until Lee was hired.
Lee was formerly the Eastern Massachusetts regional president at M&T Bank. She told the Boston Globe that she left that high-pressure post and took the St. Mary’s job to be able to spend more time with her family, in particular to help care for her mother.
“I am honored to step into the role of President and CEO of St. Mary’s Credit Union,” Petkewich said in a statement. “This organization means so much to me—not just because of the work we do, but because of the people who make it possible every day. I deeply believe in our mission and the impact we have on our members and the communities we serve. I look forward to leading the team as we continue to focus on delivering exceptional service.”
The Boston Business Journal first reported Lee’s departure.
The change in leadership coincides with the naming of a new chair of St. Mary’s board of directors. Brian Bouvier was chosen at the credit union’s April 27 annual meeting.
Bouvier has sat on the SMCU board since 2013. He replaces Gerard Richer.
“I am honored to step into the role of Chairman and to continue serving an organization that has such a meaningful impact on its members and communities,” Bouvier said in a statement. “St. Mary’s Credit Union has a strong legacy built on trust, service, and financial empowerment. As we look ahead, I am committed to working alongside the Board and leadership team to ensure we remain focused on stability, thoughtful growth, and delivering long-term value to our members while embracing the opportunities ahead.”
While Lee will depart after less than a year at the credit union’s helm, she will remain involved through the completion of St. Mary’s previously announced merger with MetroWest Community Federal Credit Union.
“We thank Grace for her leadership and for the contributions she made to St. Mary’s Credit Union,” Bouvier said in a statement. “We wish her success in her next chapter. Our mission, strategy, and commitment to our members remain unchanged. We are focused on maintaining momentum, supporting our team, and continuing to deliver the high level of service our members expect.”
Editor’s Note, May 15, 2026: The following statement was provided to Banker & Tradesman from St. Mary’s Credit Union, attributed to Grace Lee.
“It has been a privilege to work alongside the talented teams at SMCU and MWFCU, and with their dedicated board leadership. This anticipated merger reflects the strength of our shared commitment to our members and the communities we serve. I look forward to helping get this merger done on or before July 1.”
