History of the Government Banking Department

In 1997, UniBank saw an opportunity to become a major service provider in a highly specialized marketplace: municipal banking and cash management services. Much of the credit for this insight falls to Kenneth Redding, our current chief executive officer and formerly a school district treasurer and municipal auditor.

When UniBank entered the municipal market, it made two critical resolutions:

• Our philosophy of providing the best customer service possible would be UniBank's leading goal in this market. UniBank believed that if we provided unrelenting quality service, we would enjoy the success of numerous loyal customers.

• To accomplish this goal, UniBank committed to establishing a full-time Government Banking Department, staffed with banking and service professionals familiar with issues facing treasurers and other public finance officials.

The department was established in April 1997 when Patricia Baker was selected to lead UniBank's entry into the multi-billion dollar municipal market. Pat had over 20 years of municipal banking experience at Shawmut Bank and Boston Safe/Mellon Bank and was a perfect fit with UniBank’s “customer first” philosophy. When she began her efforts, UniBank had seven municipal customers whose deposits totaled approximately $7 million.

By the end of 1997, more than 35 cities, towns and other public entities had become UniBank customers; and deposits totaled $25 million. Loans to Massachusetts’s communities in 1997 reached $4.7 million.

The department was expanded in 1998 when William Dempsey, formerly of the municipal department at BayBank, joined Pat's group. Growth in the marketplace also continued; as of December 31, 1998, UniBank's municipal deposits were $49 million and loans to cities, towns and districts reached $7.8 million.

In August of 2000, Denise Murphy, a former town treasurer and collector, joined the Government Banking staff, bringing to UniBank a municipality perspective.

In 2002, Brian Jamros was promoted to the Government Banking department from a branch management position at UniBank.

In 2004, Justine DeNorscia joined UniBank, after twenty years of banking and cash management experience in the banking industry.

The department also has a support staff of six: Stacy Castell, Kristy Couture, Amy Fisher, Cindy Gleason, Cheryl Schaefer and Ryan Stolle. They provide administrative and technical support from our main office in Whitinsville. They are available throughout the day to answer questions and address customer needs and are dedicated solely to the government banking activity.

Today, UniBank's Government Banking Department has in excess of 900 account relationships with more than 325 municipal customers and counting. Well over two thirds of the Commonwealth's cities, towns and districts now have at least one account at UniBank. Municipal deposits typically equal approximately one-third of the assets of UniBank.

Professional Affiliations

Finally, the UniBank Government Banking Department has become a member of numerous community and professional organizations:

• Blackstone Valley Chamber of Commerce

• Bristol County Association of Treasurers and Collectors

• Cape and Islands Association of Treasurers and Collectors

• District Treasurer’s Association

• Eastern Massachusetts Association of Treasurers and Collectors

• Hampden County Association of Treasurers and Collectors

• Hampshire/Franklin Association of Treasurers and Collectors

• Massachusetts Collectors/Treasurers Association

• Municipal Government Finance Officers Association (MGFOA)

• Norfolk County Municipal Finance Officers Association

• Plymouth County Association of Treasurers and Collectors

• Worcester County Association of Treasurers and Collectors

• Massachusetts Bankers Association

Offices

The first two years of the existence of the Government Banking Department brought dramatic growth in government services at UniBank and this was followed by the addition of the financial advisory function, through the establishment of the UFASI subsidiary, in 1999.

Given the growth, UniBank purchased a building next to its main headquarters facility in downtown Whitinsville. The building was refurbished and the government staff moved into the building in the summer of 1999. This facility is known as the Government Banking Center.

Customer Map

Graphic “pushpins” represent the location of all of our account relationships in the Commonwealth of Massachusetts.(Click for fullsize map; use your browser back button to return.)