As 2022 came to a close, Ronald H. Covey Jr.’s 14-year career at the helm of St. Mary’s Bank in Manchester came to a close, capping a tenure that resulted in an over 60 percent increase in memberships at the credit union and an over 100 percent jump in assets.
Covey, who joined St. Mary’s in 2008 as president and CEO, was the eighth CEO in the credit union’s 114-year history.
According to Steve Grzywacz, chair of the St. Mary’s board, Covey helped St. Mary’s Bank not only grow but also successfully adjust to “rapid technological advances in the financial services industry. In addition, there are multiple new branch offices, and St. Mary’s Bank now has a mortgage lending footprint crossing over state lines.”
In 2011, Covey expanded St. Mary’s presence with the construction of its Perimeter Road operations center, a project followed by the construction of its West Side headquarters in 2013, and other branch construction projects, including Northwest Boulevard Nashua in 2020, and Milford and Portsmouth in 2021. Under his leadership, membership increased from 60,000 to 98,000 members, while assets grew from $652 million to nearly $1.5 billion.
Prior to joining St. Mary’s, Covey’s over 40-year banking career included positions such as managing commercial, consumer and mortgage lending as well as branches, commercial loan operations, collections and special assets groups at such banks as Ocean Bank, First NH Bank and Numerica Savings Bank.
Inducted into the national Credit Union House Hall of Leaders earlier this year, Covey was named the Manchester Chamber Citizen of the Year for 2021. Additionally, in 2019 and 2021, Covey was named one of the state’s 200 most influential leaders by NH Business Review.
In 2019, he received the President’s Award from the Manchester Historic Association for his fundraising achievements and efforts to preserve historically significant artwork, including the mural from St. Mary’s Bank’s McGregor Street lobby. And in 2015, he was awarded the Daniel Webster Council Boy Scouts of America Distinguished Citizen of the Year.
His community service included his personal involvement with numerous nonprofit organizations and professional groups in various governance and advisory capacities, including the Palace Theatre Trust, University of New Hampshire at Manchester, Daniel Webster Council Boy Scouts of America, America’s Credit Union Museum Foundation, the New Hampshire Institute of Art, the Greater Manchester Chamber of Commerce, the Manchester Boys & Girls Club, and the Bishop’s Charitable Assistance Fund.
Ken Senus has succeeded Covey as president and CEO of the nation’s first credit union. He has served as chief operating officer since 2017.
