MANCHESTER, NH (March 14, 2022) — Ron Covey, president and CEO of St. Mary’s Bank, was recently inducted into the Credit Union House Hall of Leaders. Located in Washington DC, the Credit Union House Hall of Leaders provides lasting recognition for those who have made a significant impact on the credit union movement at the local, state, or national level.

Covey is the first credit union professional from the State of New Hampshire to receive the honor.

Having nominated Covey for the award, Ron McLean, president and CEO of the Cooperative Credit Union Association (CCUA), said he is “thrilled on his induction.”

“Ron is an inspirational leader and one of our most highly respected CEOs,” said McLean. “His leadership on the Board at the New Hampshire Credit Union League and Cooperative Credit Union Association was instrumental in creating the nation’s first four-state credit union association.”

McLean said Covey’s national leadership has also included testifying before the House Financial Services Committee in Congress. 

“And perhaps most importantly, he championed the people-helping-people philosophy that is at the heart of St. Mary’s Bank and by which credit unions across the country look to St. Mary’s for inspiration” he added.

During his tenure at St. Mary’s Bank, Covey has expanded the credit union’s presence with the construction of its Perimeter Road operations center and branch office in 2011, West Side headquarters in 2013, and additional branch locations in Nashua in 2020, Milford in 2021, and Portsmouth in 2022. In 2020, St. Mary’s Bank received the SBA’s Credit Union of the Year Award for underwriting the most Paycheck Protection Program (PPP) loans. In total, St. Mary’s Bank assisted 734 small businesses, including 125 nonprofits, with a PPP loan, which in turn supported more than 6,125 employees.

Named one of the state’s 200 most influential leaders by the New Hampshire Business Review in 2019 and 2022, Covey has received numerous individual accolades. In 2015, he was awarded the Daniel Webster Council Boy Scouts of America Distinguished Citizen of the Year. In 2019, Covey 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.

While much of his recognition stems from his advocacy on behalf of the credit union industry and efforts to maintain St. Mary’s Bank’s standing as a top lender and community resource, Covey is equally committed to philanthropy. In 2017, he introduced the 1908 Fund to assist area nonprofit organizations and spearheaded the establishment of the St. Mary’s Bank Charitable Foundation in 2019, with an initial $1.5 million in funding. 

Prior to joining St. Mary’s Bank as president and CEO in 2008, Covey held various positions managing commercial, consumer, and mortgage lending as well as branches, commercial loan operations, collections, and special assets groups. A graduate of the Leadership New Hampshire (2007) and Leadership Greater Manchester (1994) programs, he holds a MBA in Finance from Southern New Hampshire University and BS in business administration from the University of New Hampshire in Durham.

To learn more about Covey or St. Mary’s Bank, visit stmarysbank.com.


Caption: Ron McLean (l), President and CEO of the Cooperative Credit Union Association, presents Ron Covey (r), President and CEO of St. Mary’s Bank, with an award as newly inducted member of the Credit Union House Hall of Leaders.

About St. Mary’s Bank
St. Mary’s Bank is a full-service, not-for-profit financial cooperative with branch locations in Manchester, Hudson, Londonderry, Milford, and Nashua and dedicated mortgage centers in Nashua, Concord, and Portsmouth. Founded as the nation’s first credit union in Manchester in 1908 and still headquartered there today, St. Mary’s Bank emphasizes a long tradition of service excellence, convenience, and value in its delivery of progressive banking products and services that help members save, invest, borrow, plan, insure, and retire.