Our Year — 2024

“We’re proud to connect with so many members of our community, each year – to help you prepare for your future, to provide the products and services and partnership that enable you to buy a home or start a business. And, as a mutual bank, we’re especially proud to give back – to sit on local non-profit boards, to champion the shop-local movement, to volunteer for the organizations and events that make our community what it is, and to fund so many of the causes we all believe in.” – President and CEO Anthony A. Joyce, III

Chelsea Groton was honored to receive the following awards and recognition: 

Team

“Chelsea Groton is one of the most open, comfortable, educational workplaces you could have… I went from having no banking experience to now being able to learn from experienced managers who have been in banking for 20-plus years. My favorite part about working at Chelsea Groton is definitely the people and the connections I get to make… Almost everything [the Bank does] is somehow involved in the community.” – Hennessy Sebastian, Retail Branch Management Trainee 

A “Top Workplace in CT” by The Hartford Courant for nine years strong, Chelsea Groton continues to focus on ensuring team members at all levels have access to professional development opportunities, team building outings, and unique benefits.  

The Bank conducted 80 courses, comprising 650 total training hours for team members across the organization. In addition, 8,295 online training programs, including compliance modules, were completed. And 40 team members took on 56 courses through the Center for Financial Training, as they work towards degrees and certifications in a variety of finance-related specialties. 

Chelsea Groton launched the Retail Branch Management Training Program, welcoming four trainees to a 12-month hands-on program where they work with customers, prospects, and team members from across the Bank, and participate in self-study in order to develop as bankers and leaders. 

The Bank’s strategic planning leadership team participated in a volunteer day with Provision Ministry, where the team packed hygiene bags that were distributed through the United Way of Southeastern CT to 250 families in New London County. Departments bonded while giving back at Habitat for Humanity build days, United Way mobile food pantry distributions, and other community endeavors. Overall, Team Chelsea proudly volunteered nearly 7,000 hours of their own time to support the local community, through board participation, helping at schools, churches, libraries, and food pantries, and volunteering for youth sports, community events, and more.  

The team continued to support food and supply drives, raised over $13,000 for 50 organizations through Casual for a Cause days, contributed to the United Way capital giving campaign, challenged themselves in physical and mental wellbeing exercises, and enjoyed employee appreciation days. 

Community

“Difference-makers like you give families hope, and affordable homeownership helps create the conditions that free families from stress and fear, building stability and confidence. Thank you for helping bring our vision of a world where everyone has a safe place to live a little closer to home.”  – A non-profit housing organization    

The Chelsea Groton Foundation continued to support the community in a really big way. This year, the Foundation gave $692,529 in grants, Acts of Kindness donations, scholarships, and other giving, bringing the Foundation’s total giving up to $6.79 million since its founding. In addition, the Bank sponsored 124 local non-profits in the amount of $145,326. And in lieu of holiday gifts, Chelsea Groton adopted 50 members of the community during the holiday season. 

Branches throughout the footprint hosted pet adoption days, treated customers to ice cream and hot dogs, facilitated craft events, held book signings, and offered shred days, amongst other complimentary programming for community members to enjoy.    

The Bank’s Chelsea University financial wellness program continued to grow its impact. In 2024, in addition to the 71 different class topics taught throughout Southeastern CT, the Bank conducted 14 workshops in the Greater Hartford Area on credit, homebuying, and overall financial wellness. Looking to reach more members of the community, a handful of programs were offered in two languages, including Spanish/English homebuyer and credit classes in New London, Windham, and Greater Hartford, and a Haitian Creole/English credit class through a partnership with the First Haitian Baptist Church of Norwich.   

In April, the Bank hosted a Financial Education Forum for key decision-makers from five regional school districts. The agenda of the session was focused on how best to implement personal finance courses into the existing high school curriculum as districts work to offer a personal finance credit, recently added as a requirement for graduating. CT State Treasurer Erick Russell and Tracie Morris Greenway, from the FDIC, both participated in the discussion.  

The Bank partnered with the United Way of Southeastern CT on the Path to Financial Wellness Program, funded by a grant from the State of CT. This program aims to provide BIPOC and female-led households from the Greater New London area with financial literacy education through self-directed e-learning and professional financial coaching. 

In addition, through Chelsea Groton’s Financial Wellness at Work program, the Bank partnered with eight organizations regionally and across the state of CT to educate their employees on topics related to budgeting, credit, retirement planning, and more.  

Personal

“Being a former employee of Chelsea Groton from many years ago, I know the quality of good customer service, and it has continued all these years, but being a customer in the present, it’s even better now due to video banking, which is exceptional and so convenient… I especially appreciate and am particularly glad that Chelsea Groton cannot be swallowed up by a larger bank… That has always been a big PLUS of being a customer of Chelsea Groton!” – Norwichtown branch customer 

Chelsea Groton’s headquarters and Groton branch were officially unveiled to the public with a Ribbon Cutting ceremony and celebration in February. An element of the new space that sparked interest amongst history buffs and locals was the newly installed Legacy Wall. Through digital and physical archives, the Legacy Wall showcases the strong history and community commitment the Bank has maintained through several generations. In addition to the many events and programs the Bank hosted at headquarters throughout the year, Chelsea Groton also invited non-profit organizations seeking a place to gather to host over 30 meetings in the community rooms on the ground floor of the building.  

In the fall, the Norwichtown branch was reinvented. Besides the collaborative and comfortable spaces to have financial conversations and attend financial wellness programs, the renovated space is also now home to the Bank’s Coin Collection, previously housed in the Downtown Norwich branch.   

The personal banking experience continued to improve as adoption increased for the many digital tools available, and the Bank’s consumer and business debit cards were upgraded too. Transactions made by customers using Mobile Wallet for secure and convenient purchasing right from their phone or SmartWatch increased by 37.25%. And financial management tools like Manage My Money and Credit Score are being utilized more than ever before. 

Homeownership

“One thing Chelsea Groton helped me with was realizing I wasn’t ready yet, but if I really wanted to buy a home for myself that I could do it… They were so helpful in making sure that I knew what I was doing and that it was the right thing… I felt as though they were with me on this 100%… Everyone needs a place where they can feel safe to ask questions about things they don’t know about… I definitely felt a sense of mutual trust with Chelsea Groton and all of the people I worked with.” – Jackie Law, first time home buyer 

The residential lending team processed a total of 665 consumer and real estate secured loans, amounting to over $150 million in financing for community members. This included providing 113 first-time home buyers with countless hours of counsel and support as they prepared to become a homeowner, and $37.8 million in financing to ultimately purchase their homes. Chelsea Groton also provided nearly $4.5 million in loans, grants, and down payment assistance to 16 individuals and families by partnering with state, federal, and private organizations that offer programs designed to address housing needs.  

In 2024, the Bank launched two innovative outreach products, the Unlocking Home Loan Program and the Community Builder Mortgage Program, each designed to provide financial assistance to prospective home buyers who may not qualify for other lending support. Through these two programs, the Bank was able to provide an additional $5 million in funding for 15 households.  

In addition to the 14 credit and home buyer workshops offered to community members in 2024, Chelsea Groton also sponsored a seminar for realtors to help them maintain required continuing education credits. 

Business & Commercial

“As our business grows, one of the main reasons it’s growing is because the team at Chelsea Groton Bank help us to do so with really good loan terms, help, guidance, [and] assistance with financing… I would recommend Chelsea Groton Bank to anyone. The reason why we stick with Chelsea Groton Bank is because of their team, and their people.” – Tara Vece, Shore Appliances  

Chelsea Groton Bank’s commercial lending team originated $107 million in new commercial loans, surpassing their target of $80 million by 34%. Approximately $49 million of these new loans was for working capital, equipment financing, or expansion of area businesses. And $29 million in new originations was for commercial real estate construction, supporting several local economic drivers, including housing needs, contractors, medical, independent living, and industrial real estate. The Bank also introduced a new Quick Decision small business loan product suite, allowing small business owners to access up to $150,000 quickly – boasting a seven-day turnaround time from application to credit decision to closing. 

The cash management team increased service implementations by 39% year-over-year, providing local businesses with tools to improve payables and collections processes, and enhance account security. The Bank’s Positive Pay fraud detection service prevented $2.6 million in fraud losses among business customers.  

Chelsea Groton launched a Banker-in-Residence program at the Eastern CT Chamber of Commerce Innovation Center and collaborated with local organizations to bring networking opportunities and educational programming to the business community on topics such as leadership, cybersecurity, secure payments, and FDIC insurance.

Investments (CGFS)

“Our team is focused on ensuring clients are confident in the strategies they select for meeting their goals. We are committed to taking the time to explore a number of investment vehicles with clients, educating them about their options, and consistently communicating about any changes to ensure they always feel informed and secure in their choices.” – Jennifer Eastbourne, VP, Program Coordinator at Chelsea Groton Financial Services, and Financial Services Associate, Osaic Institutions, Inc. 

The Chelsea Groton Financial Services team continued to plan for growth while focusing on providing an extraordinary client experience. As more clients have sought consultative and strategic guidance rather than quick, one-off investment services, the Chelsea Groton Financial Services advisors have been focused on providing tailored solutions, going beyond basic product services. To support this effort, the team proudly welcomed an experienced advisor, Al Dabiri, in early 2024.   

Bob Fradette, a 25-year veteran of the Financial Services team, was awarded the Five Star Wealth Manager Award for the 10th consecutive year. 

As they have for over two decades, trusted Chelsea Groton Financial Services advisors continued to assist families, businesses, and non-profit organizations in building toward and achieving their financial goals this year. The team’s commitment to understanding clients’ needs, offering appropriate solutions, and providing a high level of service has led to many long-lasting relationships.   

Financials

Loan Mix: Residential Mortgage 71% | Commercial Mortgage 24% | Commercial 4% | Consumer 1%

Team Member Graduations, Honors, and Awards

Launch Management Training graduates – Megan Kane, Peter Caramante, Alexander Wrobel 
Chamber of Commerce of Eastern Connecticut Leadership Program graduates – Daniela Ness, Rebecca Magner, Miria Gray (class co-president) 
Connecticut School of Finance and Management graduates – Mario Siciliano, Bill Mundell 
ASPIRE graduates – Samantha Powden, Liz Owen, Tori Heim 
New England Leadership Development Program participants – Jen DeLucia, Giusy Beaman, Barb Curto 
Greater Norwich Area Chamber of Commerce LEAD Program graduates – Kyle Main, Harry Colonis 
Connecticut Bankers Association New Leaders in Banking – Alexis Kahn, Damen Norton, Sara Lundy 
United Way of Southeastern CT Volunteer of the Year – Renee Simao   
100 Men of Color Award – Craig Cuffie  
ICBA “40 under 40” Community Bank Leader – Matt Benoit 
George W. Strouse ‘Spirit’ Award winners – Giusy Beaman, Daniela Ness, Kleo Curis 
Chelsea Award winners – Bill Mundell, Luann Vinson 

Officer promotions

Matt Benoit, First Vice President  
Christina Caplet, First Vice President  
Jennifer DeLucia, First Vice President 
Sara Lundy, First Vice President 
Maria Grenier, Vice President 
Rebecca Magner, Vice President 
Kelly Meakem, Vice President 
Jennifer Willingham, Vice President 
Tiffany McGlon, Assistant Vice President 
Christen Brewer, Assistant Treasurer 
Alexandra Samoila, Assistant Secretary 
Alexis Smith, Assistant Secretary 
Laura Velletri, Assistant Secretary 

Leadership Team

Executive Leadership Team

Anthony A. Joyce, III – President and Chief Executive Officer
Katherine Allingham – Senior Vice President, Chief Risk and Compliance Officer
Richard Balestracci – Senior Vice President, Commercial Lending Department Manager
Lori Dufficy – Executive Vice President, Chief Experience and Engagement Officer
Alex Masse – Executive Vice President, Chief of Operations & Innovation
Michael Sheahan – Executive Vice President, Chief Lending Officer
Jessica Todd – Executive Vice President, Chief Financial Officer
Larry Walker – Senior Vice President, Director of Technology
Anne Wilkinson – Senior Vice President, Chief Human Resources Officer

Officers

FIRST VICE PRESIDENTS

Kathryn Alves – First Vice President, Credit Department Manager
Matt Benoit – First Vice President, Business Intelligence Manager
Christina M. Caplet – First Vice President, Operations and Security Manager
Marie Carmenati – First Vice President, Retail Lending Underwriter Manager
Barb Curto – First Vice President, Marketing Manager
Jennifer L. DeLucia – First Vice President, Controller
Tamela D. Higgins – First Vice President, Human Resources Manager
Alexis Kahn – First Vice President, Cash Management Sales Manager
Sara Lundy – First Vice President, Risk and Compliance Manager
Jean McGran – First Vice President, Member Experience Market Manager
Matthew Morrell – First Vice President, Retail Lending Customer Experience Manager
William Mundell – First Vice President, Digital Banking Channel Manager
Mario Siciliano – First Vice President, Information Technology Manager
Ryan Todd – First Vice President, Information Security Officer

VICE PRESIDENTS

Melissa Bierowka – Vice President, Commercial Loan Officer
Melinda M. Burridge – Vice President, Regional Sales and Service Manager
Harry Colonis – Vice President, Business Development Officer
Al Dabiri – Vice President, Financial Advisor
Sarah A. Dion – Vice President, Internal Audit Manager
Jennifer Eastbourne – Vice President, Financial Services Program Coordinator
Robert R. Fradette, CFP – Vice President, Financial Advisor
Maria Grenier – Vice President, Deposit Operations Manager
Michael Hawes – Vice President, Commercial Loan Officer
Megan Kane – Vice President, Finance Manager
Rebecca Magner – Vice President, Learning & Development Manager
Kelly Meakem – Vice President, Digital Banking Operations Manager
Nancy Murphy – Vice President, Data Architect
Damen Norton – Vice President, Lending Compliance and Investor Manager
Paulette A. Retsinas, CFP – Vice President, Financial Advisor
Dave Saia – Vice President, Commercial Loan Officer
Dawn Sandvoss – Vice President, Commercial Loan Officer
Patricia Startz – Vice President, Commercial Loan Officer
Jennifer Willingham – Vice President, Cash Management Officer
Marielle Winkelman – Vice President, Regional Sales and Service Manager

ASSISTANT VICE PRESIDENTS

Dana S. Chapel – Assistant Vice President, Retail Loan Originator
Mandy-Lyn Crispim – Assistant Vice President, Cash Management Officer
Craig Cuffie – Assistant Vice President, Retail Lending Underwriter II
Lisa M. Fields – Assistant Vice President, Facilities Manager
Elvira Fiore-Labrecque – Assistant Vice President, Customer Care Center Manager
Miria Gray – Assistant Vice President, Community Education Officer
Tiffany Grillo – Assistant Vice President, Loan Servicing Manager
June Holaday – Assistant Vice President, Assistant to the President
Yana Kozleva – Assistant Vice President, Senior Auditor
Carleen Lee – Assistant Vice President, Customer Solutions Manager
Jason Levine – Assistant Vice President, System Administrator II
Regan Nichols – Assistant Vice President, Customer Solutions Manager
Elizabeth Owen – Assistant Vice President, Lead Senior Credit Analyst & Sageworks Administrator
Kristen Scott – Assistant Vice President, Customer Solutions Manager
Donna L. Thompson – Assistant Vice President, BSA Manager
Richard J. Turner – Assistant Vice President, Retail Loan Originator
Rebecca Wesolowski – Assistant Vice President, Secondary Market and Encompass Administrator

ASSISTANT TREASURERS

Samantha Bazydlo – Assistant Treasurer, Customer Solutions Manager
Giusy Beaman – Assistant Treasurer, Branch Operations Manager
Christen Brewer – Assistant Treasurer, Digital Innovation and Design Specialist
Edwin Cotto-Morales – Assistant Treasurer, Customer Solutions Manager
Nicole Goodrow – Assistant Treasurer, Customer Solutions Manager
Ana Healy – Assistant Treasurer, Customer Experience Skills Coach
Tori Heim – Assistant Treasurer, Customer Solutions Manager
Rebecca Jacoinski – Assistant Treasurer, Benefits and Wellness Specialist
Shannon Ladd – Assistant Treasurer, Customer Solutions Manager
Michele Magowan – Assistant Treasurer, Retail Lending Sales Specialist
Kyle Main – Assistant Treasurer, Customer Solutions Manager
Amanda Morin – Assistant Treasurer, Customer Solutions Manager
Deborah O’Brien – Assistant Treasurer, Customer Solutions Manager
Renee Simao – Assistant Treasurer, Talent Acquisition Specialist
Megan Susi – Assistant Treasurer, Customer Solutions Manager

ASSISTANT SECRETARIES

Krissa Beene – Assistant Secretary, Marketing Specialist
Kyle Campbell – Assistant Secretary, IT Support Specialist II
Heather Gumlaw – Assistant Secretary, Commercial Lending Administrator
Lisa Lamphere – Assistant Secretary, Commercial Lending Administrator
Christine Lataille-Santiago – Assistant Secretary, Human Resources Specialist
Daniela Ness – Assistant Secretary, Retail Lending Sales Specialist
Samantha Powden – Assistant Secretary, Senior Learning and Development Specialist
Alexandra Samoila – Assistant Secretary, Senior Credit Analyst
Alexis Smith – Assistant Secretary, Project Management Specialist
Laura Velletri – Assistant Secretary, Accounting Loan Analyst
Lauren Vincent – Assistant Secretary, Portfolio Manager and Small Business Loan Officer
Luann Vinson – Assistant Secretary, Retail Loan Originator

Board of Trustees

Anthony A. Joyce, III – President and Chief Executive Officer, Chelsea Groton Bank
D. Ben Benoit – President, PCW Management Center, LLC
Rodney A. Butler – Chairman, Mashantucket Pequot Tribal Nation
Betsy Conway – Legal Consultant, Mashantucket Pequot Tribal Nation
Kimberly Cardinal Piscatelli – Owner and Dealer Manager, Cardinal Honda
B. Michael Rauh, Jr. – Retired President and CEO, Chelsea Groton Bank
Kathleen Stauffer – Chief Executive Officer, The Arc Eastern Connecticut
Thomas R. Switz – President, Switz Insurance and Real Estate

Corporators

Seymour Adelman
Dr. Michael Alfultis*
Louis E. Allen, Jr.
Alexis Ann
Carl Banks*
Edward Bartelli
D. Ben Benoit
Wilfred J. Blanchette, Jr.
Mark E. Block
Andrew Bond
Ellen C. Brown
Allyn L. Brown, III
Wendy Bury
Rodney Butler
Leo E. Butler, Jr.
Pietro Camardella
Dennis J. Cambria, DDS
Stanley A. Cardinal*
Kimberly Cardinal
Dr. Steven B. Carlow
Cynthia J. Casey
Stephen Coan
John A. Collins, III
Fred A. Conti
Elizabeth Conway
Valerie Cordock
Lori Danis
Samanta Descombes-Roseme
Abby I. Dolliver
Irene Donovan*
Michael E. Driscoll
Maryam Elahi
David P. Erskine
Tracy Espy
Ralph G. Fargo*
Peter S. Gianacoplos
Denison N. Gibbs*
Scott Gladstone
Robert H. Glass, Jr.
Jeffrey R. Godley
Michael A. Goldblatt
Mark Grader
Ulysses B. Hammond
Donna Handley
Theodore A. Harris
Leah A. Hartman
Shiela Hayes
Thomas M. Hinsch
Cathleen J. Holland
Peter Hoops
Richard M. Hoyt, Jr.
John J. James
Eric M. Janney
Margarett L. Jones
Dr. Mary Ellen Jukoski
Nicholas F. Kepple
Pamela A. Kinder
Daniel L. King
Jon T. Kodama
Robert V. Krusewski*
Theodore M. Ladwig
Richard Lisitano
Edwin Lorah
Jennifer J. Lowney, DMD
Paul V. Mathieu
Jeffrey A. McNamara
Daniel Meiser
Wilhelm W. Meya
Theodore S. Montgomery*
Dr. Naomi Nomizu
Mark R. Oefinger
Andrew C. Pappas
Patricia A. Pastor
B. Michael Rauh
Felix Reyes
Caleb Roseme
Lottie B. Scott
Meagan E. Seacor
Dina Sears-Graves
Jonathan Shockley
John M. Smith*
William A. Stanley
Kathleen Stauffer
Kathleen A. Steamer*
Thomas R. Switz
Robert W. Tabor
Laurelle Texidor
William F. Turner
Robert A. Valenti
Kristin Wainright
Edward J. Waitte
David A. Whitehead
Catherine L. Young
Adam Young
Jeanette Ziegler

*Corporator Emeritus