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Larissa C. Thurston has been appointed as the new president/CEO of St. Mary's Credit Union in Marlborough, Mass. The announcement this week came as the board of directors decided on a replacement for its current President/CEO James C. Garvey, who announced his retirement.
According to a statement from the $975 million credit union, Thurston will become the first woman to lead the credit union in its more than 100 year history.
"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.
Larissa Thurston "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," Board Chair Gerard P. Richer said. "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."
According to the announcement from St. Mary's, Thurston has been with the credit union since 2014 serving as COO and CFO, where she provided leadership over the credit union's technology, marketing, human resources, deposit operations, compliance, and financial plans and programs. Thurston has been in the financial services industry for more than 20 years, serving as vice president and controller for the Bank of New England before joining St. Mary's.
Garvey, who's been St. Mary's leader for the past eight years, plans on retiring after 40 years in the financial services industry.
Jim Garvey "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," Richer said.
Thurston will officially take the helm on Oct. 1, 2021, according to the announcement.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
