Issue link: https://nebusinessmedia.uberflip.com/i/469117
34 Worcester Business Journal • www.wbjournal.com 25 YEARS: IMPACTFUL COMPANIES ADMISSION OPEN HOUSE October 19, 2014 at 1:30 p.m. REGISTER NOW www.bancroftschool.org Educating college-bound students Pre-K through Grade 12 110 Shore Drive Worcester, MA 01605 508.854.9227 www.bancroftschool.org Lower, Middle, & Upper Schools In Central Massachusetts, there's a celebrated term for kids who are smart, expressive, curious, motivated, and happy. They're called "Bancroft students." 800.581.5363 • fidelitybankonline.com 14_163_WBJ_25th PILLAR OF OUR COMMUNITY At Fidelity Bank, we strongly believe in organiza ons improving the quality of life in our communi es, in fact it is the cornerstone of our mission and values. With our LifeDesign approach, we strive every day to make a difference and be the most caring, trusted, and respected financial resource in the communi es we serve. We thank the Worcester Business Journal for the posi ve impact they have made in our community. We look forward to many more years of partnership, collabora on, and development. We salute the Worcester Business Journal on its 25th Anniversary of serving our business community. D avid "Duddie" Massad Jr. bought Commerce Bank in late 1993 after it had lost nearly $3 million in the three prior calendar years, and had been under scrutiny by two national research and rating firms that cover banks. One, Bauer Financial Reports Inc., of Florida, had placed Commerce on its "troubled bank and thrift" list, although Commerce denied at the time that it was in trouble. But the bank has come a long way since. Last year, Commerce, the largest Worcester-owned bank, continued to grow its asset base, buying Boston-based Mercantile Capital and its subsidiary, Mercantile Bank & Trust, for $26.5 mil- lion. The deal gave Commerce a physical presence in Boston. Today, it has com- bined assets of $1.6 billion, with 16 retail banking offices serving individu- als and businesses across Central and Eastern Massachusetts, including three offices in the Boston metro area. And in recent years, Commerce has been a key lender to businesses through the U.S. Small Business Administration. That's a big turnaround over the last 21 years, since Massad made his invest- ment. T he DCU Center. That's what Central Massachusetts residents often asso- ciate with Digital Federal Credit Union — that is, those who know what "DCU" stands for. The credit union can afford to pay for the naming rights: The $5-bil- lion organization is the largest credit union headquartered in New England as measured by assets, and is among the top 25 nationwide. DCU, a not-for-profit financial coop- erative owned by and operated for its members, was chartered in 1979 for employees of the now-defunct Digital Equipment Corp. Since then, DCU has been chosen as the credit union for more than 800 companies and organiza- tions and serves more than 400,000 members and their families in all 50 states. In 2001, DCU adopted StreetWise, a financial consumer-education program, to give its members unbiased consumer knowledge on a variety of topics, includ- ing credit, privacy protection, fraud pre- vention, and home- and car-buying tips. StreetWise also teaches how financial products and services work. In 2002, DCU furthered its financial-education outreach programs by actively promot- ing financial literacy among teens. The credit union teaches basic skills at area high schools. In 2005, DCU recognized the impor- tance of supporting organizations that make a difference in their communities. The credit union incorporated DCU for Kids, a non-profit 501(c)3 charitable foundation that distributes funds for deserving causes and charities that ben- efit children and families. To date, DCU for Kids has made charitable donations totaling more than $5.3 million, and all administrative and volunteer support is donated by the credit union. As for the DCU Center, in 2004, DCU purchased the naming rights to the facility to help more people in Central Massachusetts learn about the credit union. The current naming-rights agreement extends through February 2025. The city-owned, contractor-man- aged facility hosts more than 100 events each year that bring more than 1 million to the downtown area. Commerce Bank Digital Credit Union 22 23