Worcester Business Journal

wbjournal.com | October 26, 2020 | Worcester Business Journal 21 O U T S T A N D I N G W O M E N I N B U S I N E S S F O C U S Alexander creates personal connections with small businesses BY ALIYA LARKIN Worcester Business Journal Editorial Intern C ommunity service is something countless professionals take part in occasionally to help out for a good cause, but very few dedicate their life to it fully. For Kate Roy Alexander, it has just become a part of her day-to-day work life. Alexander, president and CEO of Southbridge Credit Union, has worked with or in smaller businesses for most of her career. She started at Southbridge Savings Bank in 2003, which is now Cornerstone Bank. She le the small business world for a while to take a corporate job at Framingham office sup- ply retailer Staples Inc., but she found herself missing the connectivity of small institutions and the ability to truly par- ticipate in the local community. "I loved the opportunity that commu- nity banking had to offer," she said. In 2016, Alexander joined South- bridge Credit Union, and by December of that year, she was promoted from being its chief sales and retail officer to its interim CEO. She was named permanent CEO in March 2017 as SCU was finding new ways to connect to customers. Since taking over the permanent CEO position, SCU has gone from having $181 million in assets to $202 million. Over that time, the credit union added more than 1,000 new customers. Alexander is one of a small number of top female executives in the banking industry in Central Massachusetts. Others include Southbridge-based Savers Bank's Rosemary Picard, North Brookfield Savings Bank's Donna Bou- langer, Millbury National Bank's Kathleen Marcum, Gardner-based GFA Federal Credit Union's Tina Sbrega, Worcester Credit Union's Lisa Perrin, Athol Credit Union's Courtney Fifield, and Leominster Credit Union's Barbara Mahoney. As for all her accomplishments, Alex- ander said most obstacles she faced were largely self created rather than difficul- ties life has thrown at her, and hers to overcome through perseverance. "I am a strong believer that we create our own destiny" said Alexander. Alexander is in her 16th year on the Tantasqua School Committee, which covers the region with the communities Brimfield, Brookfield, Holland, Stur- bridge and Wales, and has been the chair of the committee for about eight years. Mary Bellezza, who works with her on the school board committee, can attest to Alexander's hard-working attitude and her community participation. "She coaches almost everything," said Bellezza of Alexander's volunteering for sports teams. For years Alexander has heard small- er financial institutions are going to dis- appear, but the pandemic has solidified the idea they are here to stay, she said. Smaller banks and credit unions provide a level of personal connection, where they understand the needs of small businesses, in a way larger banks can't provide, Alexander said. "When you work for a smaller insti- tution that you can actually pick up the phone and call somebody and you know somebody's name, it's important," said Alexander. Kate Roy Alexander President & CEO Southbridge Credit Union Residence: Sturbridge Colleges: Endicott College & Salem State College What are the keys to success? Sur- round yourself with amazing people, and always make sure they know how much you appreciate them. Nothing can help you hit your goals like a happy and empowered team. What is a fun fact about you most people don't know? This is pretty hard as most people know I am an open book. I can watch the Weather Channel for hours at a time, I am a total bird nerd, and I am very territorial on my grill. I can carry a tune pretty well, but have some kind of adult-on- set stage fright. I hate being the center of attention. What is your advice for women in business? We create our own destiny. Don't sit back and wait for opportunities. Have a plan and a plan B. Be fearless. Make things happen. Be brutally honest, transparent and never be afraid to fail. W

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