Updated: October 26, 2020
2020 Outstanding Women in Business
Outstanding Women in Business: Alexander creates personal connections with small businesses
Photo | Matthew Wright
Kate Roy Alexander
By Aliya Larkin
Community service is something countless professionals take part in occasionally to help out for a good cause, but very few dedicate their life to it fully. For Kate Roy Alexander, it has just become a part of her day-to-day work life.
Alexander, president and CEO of Southbridge Credit Union, has worked with or in smaller businesses for most of her career. She started at Southbridge Savings Bank in 2003, which is now Cornerstone Bank. She left the small business world for a while to take a corporate job at Framingham office supply retailer Staples Inc., but she found herself missing the connectivity of small institutions and the ability to truly participate in the local community.
“I loved the opportunity that community banking had to offer,” she said.
In 2016, Alexander joined Southbridge Credit Union, and by December of that year, she was promoted from being its chief sales and retail officer to its interim CEO. She was named permanent CEO in March 2017 as SCU was finding new ways to connect to customers.
Since taking over the permanent CEO position, SCU has gone from having $181 million in assets to $202 million. Over that time, the credit union added more than 1,000 new customers.
Alexander is one of a small number of top female executives in the banking industry in Central Massachusetts.
Others include Southbridge-based Savers Bank's Rosemary Picard, North Brookfield Savings Bank's Donna Boulanger, Millbury National Bank's Kathleen Marcum, Gardner-based GFA Federal Credit Union's Tina Sbrega, Worcester Credit Union's Lisa Perrin, Athol Credit Union's Courtney Fifield, and Leominster Credit Union’s Barbara Mahoney.
As for all her accomplishments, Alexander said most obstacles she faced were largely self created rather than difficulties life has thrown at her, and hers to overcome through perseverance.
“I am a strong believer that we create our own destiny” said Alexander.
Alexander is in her 16th year on the Tantasqua School Committee, which covers the region with the communities Brimfield, Brookfield, Holland, Sturbridge and Wales, and has been the chair of the committee for about eight years.
Mary Bellezza, who works with her on the school board committee, can attest to Alexander’s hard-working attitude and her community participation.
“She coaches almost everything,” said Bellezza of Alexander's volunteering for sports teams.
For years Alexander has heard smaller financial institutions are going to disappear, but the pandemic has solidified the idea they are here to stay, she said.
Smaller banks and credit unions provide a level of personal connection, where they understand the needs of small businesses, in a way larger banks can’t provide, Alexander said.
“When you work for a smaller institution that you can actually pick up the phone and call somebody and you know somebody's name, it's important,” said Alexander.
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