Marlborough – John R. Caulfield, president and chief executive officer of St. Mary's Credit Union is stepping down from his position effective June 22, the bank announced today.? Caulfield joined St. Mary's Credit Union in May of 2007.
During that five year period, St. Mary's Credit Union 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.? The credit union recently announced plans to expand into Westborough with a new branch.
As the credit union prepares to mark its 100th anniversary in 2013, St. Mary's Credit Union Board Chairman, Gerard Richer credits Caulfield and his team with positioning the credit union for another century of growth and service to the communities it serves.
“Jack has been a true steward of our Members” assets during very challenging economic conditions.? His work to build a strong foundation for St. Mary's assures us a healthy future.? We look forward to continuing to provide outstanding service and to bringing innovative products and services to our members,: he said.
Caulfield said he is moving on to pursue new management opportunities.? “I have enjoyed the challenges and opportunities that my CEO role offered me and I leave the credit union financially strong, profitable and positioned for continued success,” he added.
Former CEO and current director, Thomas M. Wellen, will serve as interim CEO until the board completes a search for a new chief executive officer.
St. Mary's Credit Union is a nearly $600 million credit union headquartered in Marlborough, MA. The credit union has 5 branches located in Marlborough, Northborough and Hudson.? Information about St. Mary's is available on its website – www.stmaryscu.org.