Worcester Business Journal

www.wbjournal.com • Worcester Business Journal • 2 018 Economic Forecast 35 S P O N S O R E D B Y I n today's ever changing environment getting ahead of the competition means identifying prospects for growth, staying ahead of cus- tomers' needs and having the right talent and team. Moving into 2018, we will look at two key indicators which should identify areas of opportu- nity to gain new business and a greater share of wallet from existing customers. First is the Massachusetts unemployment rate that has recently been reported at 3.7%, lower than the national rate of 4.1% reported by the Bureau of Labor Statistics. Second, our nation's GDP has reached its highest point in three years reported at a healthy 3.3% in the third quarter of 2017. All of the aforementioned bodes well for the economy to benefit by an increase in consumer spending and thus business growth. Of course, other factors such as rising short-term interest rates suggest that the next recession may not be too far down the road. However, tax reform legislation could fuel the economy enough to ensure a robust couple of years ahead. Another encouraging economic gauge is the real estate market. In recent months, Worcester County had a surge in the sale of single-family homes and condominiums. Real estate reports indicate that this geographic area experienced a 12.75% increase in home sales during October 2017 compared to October 2016. Also, the average selling price of these properties rose 4.46% during that same period. The direction of the market indicates an economic landscape where people will continue to invest in their commu- nity, themselves and the market. Navigating success- fully through this course of changes and opportunities requires a solid team of knowl- edgeable, experienced and committed indus- try professionals and that's what you'll find at Clinton Savings Bank. The CSB relationship banking team works closely with consumer and commercial customers to effectively tackle any roadblocks on the way to economic health to create a plan that leads to financial well-being. Not only does our staff have industry know-how they also have personal experience when it comes to under- standing the local community. In addition to industry acumen and regional familiarity, CSB utilizes technology as an integral part of its overall strategy for success. We continue to offer and enhance high-tech platforms as well as convenient branch design that enable customers to bank and do business efficiently and effectively. Today, as ever before, time is money. Our online capabilities such as Bill Pay, Popmoney and e-State- ments help customers stay on top of their financial situation. Early next year, our Online Banking platform will launch an easy to use money man- agement system that allows for external accounts to be accessed and viewed along with CSB accounts, and enables various budgeting tools. And our web- site will be redesigned to reflect consumers' ever changing needs. Along with our highly rated CSB consumer mobile banking app, which allows instant access to accounts and services, we will be offering Apple Pay, providing greater convenience to fit into the busiest of lifestyles. Since 1851, Clinton Savings Bank has devoted its time, talent and efforts to serving the banking needs of customers throughout Central Massachusetts. Times change, but CSB remains committed to fulfilling its promise of serving the local community by delivering high-quality finan- cial products and services, while continually investing in technology and talent. n Regards, Robert J. Paulhus, Jr. President & CEO Teamwork + Technology = A Winning Combination for Financial Success Robert J. Paulhus, Jr. President & CEO B A N K I N G & F I N A N C E

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