MARLBOROUGH, Mass.–St. Mary’s Credit Union has named a new president/CEO, the first woman to lead the organization in its 108-year history.
St. Mary’s Credit Union has named Larissa C. Thurston as its new president/CEO effective Oct. 1, 2021. Thurston succeeds James C. Garvey, who announced his retirement following eight years as president/CEO of the credit union and 40 years in the financial services industry.
According to the $975-million St. Mary’s CU, which officially began operating in1913, Thurston brings a wealth of experience to the role in addition to being the first woman to lead the credit union.
Thurston joined St. Mary’s Credit Union as CFO in 2014 and has more than 20 years of “progressive banking experience” with a strong background in banking strategy, finance, and operations. She has also served as chief operating officer, where she “provided vision, leadership, planning and management for technology, marketing, human resources, deposit operations, compliance, and finance plans and programs,” the credit union said
Before joining St. Mary’s Credit Union, Thurston served as VP/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, St. Mary’s CU announced.
‘Extraordinary Leadership’
“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,” said Chairman Gerard P. Richer. “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.”
Added Richer, “We also express our deepest gratitude to Jim 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. We wish Jim the best in his well-deserved retirement.”
‘An Honor’
“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,” said Thurston. “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.”
A resident of Bolton, Mass., St. Mary’s said Thurston serves as Member-at-Large on the Board of Directors Executive Committee at the United Way of Tri-County and as Treasurer on the Board of Directors at the Boys & Girls Club of MetroWest. She also serves on the Member Advisory Panel of the Federal Home Loan Bank of Boston and is a Read to a Child student mentor at the Richer Elementary School in Marlborough.
Thurston graduated magna cum laude with a master’s degree in business administration and a bachelor’s degree in Accounting from Southern New Hampshire University. She is also a graduate of the ABA Stonier Graduate School of Banking and the Wharton Leadership Program.