Worcester Business Journal

6 Worcester Business Journal | March 15, 2021 | wbjournal.com 2020 will be remembered as a year of change, a year we were all forced to reevaluate the way we look at doing business. If your business strategy and physical work space needs to change with the times, trust Associated Builders to be your solution. Specializing in industrial manufacturing and distribution facilities, pre- engineered metal buildings, auto dealerships, out-patient healthcare facilities, offi ce space, commercial buildouts, additions and more. Associated Builders Inc. 4 Industrial Drive, South Hadley MA 01075 413-536-0021 www.abuilders.com BUILDING BUSINESS. BUILDING RELATIONSHIPS. BUILDING EXCELLENCE. BUILDING BUSINESS. BUILDING RELATIONSHIPS. BUILDING EXCELLENCE. COMMERCIAL/INDUSTRIAL BUILDING SERVICES COMMERCIAL/INDUSTRIAL BUILDING SERVICES SITE SELECTION – DESIGN – ENGINEERING – CONSTRUCTION – RENOVATIONS Associated Builders Inc. Northampton VW, Northampton, MA R.K. Miles, Hatfi eld, MA Pediatric Services of Springfi eld, E. Longmeadow, MA Animal Eye Care, Whately, MA B R I E FS Fidelity Bank pays $23M to resolve Ponzi scheme Fidelity Bank, headquartered in Leominster, as well as its former pres- ident, John Merrill, have agreed to a $22.5-million settlement as part of a larger class action lawsuit related to the TelexFREE Ponzi scheme, although a significant portion of those costs will be covered by the bank's insurance. TelexFREE, a Marlborough-based Ponzi scheme which also had offices in Brazil, was co-owned by Merrill's brother, James Merrill, and, according to settle- ment documents, maintained deposit accounts at Fidelity Bank from August 2013 to January 2014. Since TelexFREE was formally charged in April 2014, John Merrill and Fidelity denied knowing about the Ponzi scheme nature of the business, a stance reiterated in settlement documents. "e bank agreed to settle what is now a nearly seven-year-old civil case to avoid even more prolonged and expensive liti- gation that would detract from our focus of serving our Central Massachusetts community," said Derek Beahn, Fidelity's senior vice president. GFA credit union picks next CEO from within Joshua Brier, GFA Federal Credit Union's executive vice president and chief operating officer has been named the company's next president and CEO. GFA's current president and CEO, Tina Sbrega, is set to retire effective April 1, and then take on a new role as president of Lighthouse Biz Solutions, LLC, a subsidi- ary of GFA serving cannabis companies. Brier has served in his GFA roles for two years. He has 15 years of banking experience and has an MBA from New England College of Business in Boston. Continued from Page 5 (From left) GFA's outgoing CEO Tina Sbrega, Chief Governance Officer Gerald Bankowski, and incoming CEO Joshua Brier I haven't changed my mind on legal cannabis Has your opinion on legal cannabis changed since 2016? In 2016, 54% of Massachusetts voters cast their ballots in favor of legalizing adult-use cannabis in the commonwealth, a sharp rebuke of many state leaders, including Gov. Charlie Baker, Attorney General Maura Healey and Boston Mayor Marty Walsh, who co-authored an op-ed in The Boston Globe earlier that year, opposing the initiative. After the ballot measure passed, dozens of Central Massachusetts cities and towns placed bans and moratoriums on potential cannabis businesses. When polled online, nearly 90% of WBJ readers said they haven't changed their opinions on cannabis since the law was passed. COMMENTS "If Charlie, Maura and Marty are against it, I am all for it." 9% No, I supported legal cannabis then and I support it now. 59% Yes, I support it now after previously opposing it. "We -- while paying lip service to fighting substance abuse -- have made a mind-altering substance legal. Our world continues to come apart at the seams." F L AS H P O L L Yes, I now oppose legalization after previously supporting it. 3% No, I still do not support legalization. 29%

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