2025 Power 100: Michael Welch
Photo | Courtesy of UniBank
Michael Welch, CEO of UniBank, in Whitinsville
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Welch works to center the community as he leads the region’s seventh largest bank. Leading an institution with $2.4 billion in local deposits and $2.6 billion in assets as of June 30 means the pressure is on Welch to strategically invest in initiatives to support both the bank and the towns and cities it operates in.
UniBank operates 14 brick-and-mortar branches, a model Welch believes is necessary in order for the bank to serve clients at all levels of financial stability and wealth. With this sentiment in mind, he orchestrated the opening of UniBank’s newest branch, located in Worcester’s Canal District across from the Polar Park baseball stadium. Opened in December, Welch picked the branch’s location based on both the growing number of businesses in the area and the fact that the district had gone without a banking institution for years.
Welch is dedicated to growing UniBank’s presence throughout the region while giving back to the communities the bank operates in. The bank donates about 10% of its annual income to Central Massachusetts causes, including to organizations addressing youth development, community development, affordable housing, and environmental concerns. In 2024, UniBank donated $2.2 million.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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