MARLBORO, Mass. – Thomas Wellen, president/CEO of St. Mary's Credit Union, has announced his plans to step down after 12 years of at the helm.

Wellen has served in the top spot at the credit union since 1994. He said he will leave by May 30, 2007. During Wellen's tenure, St. Mary's CU grew from $170 million in assets, 47 employees and two branches to $511 million in assets, 140 employees, five branches and a loan center. The CU currently serves more than 35,000 members.

Wellen said he told the CU's board of directors last month of his intentions to resign and wanted to provide enough notice for a successor to be found. A former treasurer for the city of Marlboro, Wellen's experience also includes careers in technology and construction fields.

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