UniBank Launches Invest Worcester
At an event hosted on November 30 by UniBank at its Gold Star branch in Worcester, the bank announced the launch of a new socially responsible banking program called Invest Worcester. A banking program that will bring the community together to build a better Worcester.
At the heart of the program is UniBank’s Invest Worcester Savings Account. This savings account has been designed specifically for Worcester to address three key areas of concern: home ownership, community development, and small business development. Available to individuals, businesses, non-profits, and Worcester municipalities, the Invest Worcester Savings Account offers customers a premium rate of interest. Funds deposited into the account will be leveraged by the bank to provide lending options in Worcester to advance homeownership rate, help small businesses prosper, and to stabilize neighborhoods. UniBank is launching Invest Worcester by committing to lend at least $5 million to help achieve this goal.
William M. Mahoney, UniBank’s President and CEO, announced, “As a community bank, we understand the importance of reinvested back into our local community and we are excited to play a role in the current economic resurgence of the great City of Worcester. With the Invest Worcester Program, we are committed to ensuring at least $5 million in mortgages, small business loans, and community development financing is made in Worcester to make this City an even greater place to live and work.”
Invest Worcester goes beyond being a banking program. UniBank’s Matthew Wally, Vice President of Government and Community Affairs announced at the event that UniBank has made $35,000 in grants to four non-profits who are helping to grow Worcester’s economy. Those include: Worcester Community Housing Resources, Main South CDC, Oak Hill CDC, and Worcester Common Ground.
“We are fortunate to have such strong partners in our community,” stated Mr. Wally. “Gateway cities like Worcester benefit from partnerships that are formed among our for-profit entities, our non-profit entities, and our government entities. We believe Invest Worcester will act as a catalyst for these types of partnerships.”
Worcester Regional Chamber of Commerce President and CEO Timothy Murray was in attendance at the launch event. In remarks he stated, “Access to capital is cited as one of the most important factors for growth of an economy. UniBank’s Invest Worcester program not only increases capital, but it does so through partnerships with local deposit holders. I am excited for the future impact of this program.”
Detailed program information can be found at www.unibank.com/invest-worcester or by calling UniBank’s Worcester branch at 508-756-0807.