Heat butter in small saucepan over medium heat. Add onion; cook and stir 5 minutes or until tender. Add flour. Cook over medium heat 1 minute, stirring constantly. Stir in milk and heat to a boil. Boil 1 minute or until thickened, stirring constantly.
Process half the corn in food processor or blender until coarsely chopped. Combine milk mixture, processed and whole corn, salt, dried thyme, and pepper in Crockery Pot. Cover and cook on low 31/2 to 4 hours or until mixture is bubbly around edge.
Garnish with fresh thyme, if desired. Serves 6.
As a variation, add 1/2 cup shredded Cheddar cheese and 2 tablespoons Parmesan cheese before serving; stir until melted. Garnish with additional cheddar, if desired.