Citing compliance and regulation concerns, banks have traditionally been slow to adapt to social media as the rest of the world has forged ahead with Facebooking, Tweeting and more.
Startup companies and entrepreneurs in Central Massachusetts, drawn by a decidedly unique way to raise extra capital, have started to employ crowd funding for their projects.
When German conglomerate Siemens AG bought the 120-year-old Morgan Construction Co. in 2008, Siemens introduced its corporate changes slowly to the Worcester company.
For a small group of credit unions across the U.S. — including a handful in Central Massachusetts — a limit on commercial will constrain some of their asset growth for the foreseeable future.
Downtown Worcester has been full of development activity for the past few years, as the city focuses on revitalizing the area and moving it away from only being a bustling place during office hours.
Five years after the 2007 financial crisis and ensuing recession, banks and credit unions in Central Massachusetts are operating in a low-interest environment that forces them to turn increasingly to other revenue sources to stay healthy.