Ex-Flagship CEO To Head St. Mary's
St. Mary's Credit Union of Marlborough has appointed James "Jim" C. Garvey, a former executive with Worcester-based Flagship Bank and Trust, as its new president and CEO, the credit union announced Tuesday.
Garvey also held similar roles at Borel Private Bank in San Mateo, Calif., and Charter Private Bank in Seattle, both subsidiaries of Boston Private Financial Holdings. Garvey led Flagship from 2001 through 2009, when the bank was acquired by People's United Bank. Previously, he held positions at Safety Fund National Bank in Fitchburg and at Shawmut Bank.
He will take over at St. Mary's on Feb. 19 from Thomas H. Wellen, who has served in an interim capacity since June. He took over for John R. Caulfield, who left after five years in the role.
As of September 2012, St. Mary's was the fifth largest credit union based in Central Massachusetts, with assets of $601.3 million and a membership base of nearly 48,000. It has five branches in Marlborough, Northborough and Hudson, and is building a new branch at the junction of routes 9 and 30 in Westborough.
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