Grace Lee will depart St. Mary's Credit Union on July 1, after becoming president and CEO in August.Jim Petkewich has been promoted to president and CEO, effective immediately.Jim Petkewich, president and CEO of St. Mary's Credit Union. PHOTO COURTESY OF SAINT MARY'S CREDIT UNIONPetkewich had served as executive vice president and chief operating officer since May, after serving as interim president and CEO from August until that time. He first joined SMCU in 2006, according to his LinkedIn profile.Lee was named president and CEO of St. Mary’s Credit Union in August, days after the credit union announced plans to merge with MetroWest Community Federal Credit Union. Lee will help St. Mary’s complete the merger before she departs in July, according to the announcement.Lee and St. Mary’s did not return a WBJ request for comment.The two credit unions have received approval for the merger, according to a March 31 activity report from the state’s Division of Banks and Board of Bank Incorporation. The vote by members to approve the merger is expected on June 3, according to the National Credit Union Administration. Lee came to St. Mary’s from Buffalo-based M&T Bank, where she most recently served as Eastern Massachusetts regional president and group lead of New England government banking. During her time at M&T, she was named the U.S. Small Business Administration Minority Lender of the Year for Massachusetts in 2023 and 2024.Brian Bouvier, chairman of the board at St. Mary's Credit Union. PHOTO COURTESY OF ST. MARY'S CREDIT UNIONThe leadership change will not lead to immediate changes to St. Mary’s operations or the credit union’s strategic direction, the credit union announced Wednesday.Petkewich’s selection as CEO follows the credit union’s April 27 annual meeting, when Brian Bouvier was elected chairman of the board. Bouvier, owner of Marlborough-based Bouvier Pharmacy & Home Medical Solutions, has served on SMCU’s board since 2013. He replaced attorney Gerard Richer as chairman, ending Richer’s 31-year tenure as chairman. Richer retained a seat on the board.Bouvier thanked Lee for her leadership but said Petkewich was the right leader for the moment at the credit union.SMCU is the fifth-largest credit union in Central Massachusetts, with $1.01 billion in assets and 55,850 members as of March 2025, according to the NCUA.Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
