LEOMINSTER, Mass. – Just four months after being named president and CEO of Leominster CU, local banker Paul Gilbody resigned the credit union post Friday.

Gilbody, who was a senior executive at nearby Bay State Savings Bank, was hired in September to succeed Gordon Edmonds, who had been CEO of the credit union since 2001.

The $620-million credit union said its board realized it had different visions for the financial institution and decided to part ways with Gilbody, naming senior vice president Carol Southworth as interim president and CEO.

“I look forward to working along with the executive management team and the dedicated employees at LCU to ensure that our strategic initiatives are on track and the day-to-day operations continue to run smoothly,” Southworth said in a statement. “Our primary goal is to make sure that from the members’ perspective this is a seamless transition and that they continue to receive the high level of service they’ve come to expect from LCU.”


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