Worcester Business Journal

wbjournal.com | January 6, 2020 | Worcester Business Journal 13 P R O F E S S I O N A L S E R V I C E S B E S T O F B U S I N E S S W Over the decade, UniBank has doubled in size BY GRANT WELKER Worcester Business Journal News Editor BEST BANK UniBank* Whitinsville, www.unibank.com Top executives: CEO Michael Welch, President Christopher Foley, and Executive Vice President Justine DeNorscia Founded: 1870 Employees: 285 Notable runners-up: Cornerstone Bank, Fidelity Bank W hitinsville-based UniBank has been booming for years. e bank opened a location on Worces- ter's Gold Star Boulevard in 2012, and in quick succession have added others in North Graon, Hopkinton, Shrewsbury, and a second branch in Sutton. Its deposits, now at nearly $1.6 billion as of September, was up 7% in one year, 19% in five years, and 64% in a decade. Assets have grown over a decade from $961 million to nearly $1.8 billion. Today's 14 branches compares to eight a decade ago, and the employee count has nearly doubled, approaching 300. All this growth has taken place without the benefit of a merger or acquisition, both common in the banking industry. UniBank – which marks its 150th anniversary this year – is growing under a new CEO, Michael Welch, who joined in July from a career in education. Welch was most recently a teach- er and fundraiser for the Red Cloud Indian School in Pine Ridge, S.D. e Worcester native was much closer to home before that, as a former headmas- ter at St. John's High School in Shrews- bury, his alma mater. He succeeds Sam Pepper, the bank's leader for two years. Welch is looking to grow UniBank in multiple directions: both with more physical branches and an upgrade to the bank's app. A small bank has an advantage over its national counterparts, Welch said. UniBank isn't beholden to outside shareholders and has less bureaucratic layers, making decisions easier, particu- larly with commercial banking. "Decision makers are local, and that's an advantage," he said. "Our focus is in the community. Our decision makers are all right here. ere's no red tape. ings move more quickly when people know one another." With everyone local, there's also more of an emphasis on relationships, and not just financial transactions, Walsh said. "It's all about relationships," he said. "Depth and breath in the community. I think that's why I'm here. at's a key focus for us." UniBank executives (from left) President Christopher Foley, Executive Vice President Justine DeNorscia, and CEO Michael Welch BEST ACCOUNTING FIRM Bollus Lynch, LLP Certified Public Accountants & Consultants* Worcester, bolluslynch.com Top executives: Partners Michael Bollus, Stephen Lynch, Jeffrey Swanberg & David Eaton Founded: 1989 Employees: 39 Bollus has blended its accountants more than 100 years of combined experience at national firms into a local firm setting, allowing the firm to offer specialized industry practices in areas such as not-for- profit organizations, manufacturing, retail, wholesale, country clubs, clubs and restaurants, developers, contractors, distribution, insurance, and financial institutions. Notable runners-up: Stowe & Degon, LLC, S&G Business Consultants & Certified Public Accountants BEST CREDIT UNION DCU – Digital Federal Credit Union* Marlborough, www.dcu.org Top executive: President & CEO James Regan Founded: 1979 (celebrated its 40th anniversary in October) BEST LAW FIRM Mirick O'Connell* Worcester, Westborough & Boston, www.mirickoconnell.com Top executive: Managing Partner David Surprenant Founded: 1916 Employees: 135 Mirick has adopted a new strategic plan, shared throughout the firm, so everyone will work together to fulfill its vision for the future. The focus will continue to be on the firm's culture, where all work collaboratively and respectfully to provide uncompromising quality. Notable runners-up: Bowditch & Dewey, Fletcher Tilton Employees: 1,460 In striving to create meaningful relationships with all of its members, DCU addresses each business's unique goals through a wide variety of products, services, and resources. Notable runner-up: Webster First Federal Credit Union, Leominster Credit Union Michael Bollus & Stephen Lynch

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