E-Newsletter
An Electronic Publication of the North Central Massachusetts Chamber of Commerce
Inside this edition, you’ll discover the latest Chamber initiatives and success stories from across our region. From economic development projects and upcoming networking events to policy updates and workforce training opportunities, we’re keeping you connected to what matters most for your business and North Central Massachusetts.
The North Central Massachusetts Chamber of Commerce is here to help – with trusted resources, a strong business network, and a support system to keep your business and the region moving forward
The home buying process can be lengthy and at times confusing, and you’ll likely be spending a lot of time working closely with your mortgage broker. Because buying a home is one of the most significant financial decisions you’ll ever make, it’s important to make sure that you are informed every step of the way. Here are five questions that your mortgage broker wants you to ask.
Hopefully you’ve spent a little bit of time researching the different types of home loans that are available, but until you know exactly what you qualify for, it’s hard to comparison shop. Your broker will evaluate things like your credit score, buying history, and the region in which you’re interested in purchasing to determine which loans products you’re eligible for.
Rate locks can be a bit of a gamble, and some brokers prefer to play the odds. In some cases, you may ask the broker to lock a certain rate at a certain date, and they may tell you that the rate is locked. Some brokers may secretly delay locking the rate in hopes that rates will drop before your closing date.
If the rates take a dip, the broker can then lock the lower rate. However, if the rates rise, the broker may tell you that something was wrong with the paperwork and that it’s impossible to close your loan before the rate lock expires.
Talk to your broker about how they handle rate locks, and make sure you get a loan commitment letter from the lender to ensure that there are no unwelcome surprises down the road.
The homebuying process comes with numerous hidden fees that go beyond the down payment and closing costs. For example, depending on your credit score and the current interest rates, you may have to pay one-time fees called “points” at closing. For every point you pay, your lender will decrease your interest rate by one percent. This lowers your monthly payment and can significantly reduce what you’ll pay over the life of the loan. Ask your broker if you will be required to pay any additional fees at closing.
Generally speaking, if you are putting a down payment of less than 20 percent, you will be required to pay for mortgage insurance until your loan-to-value ratio falls below 80 percent. Mortgage insurance premiums can be rather expensive; in some places, they may cost up to $100 a month for every $100,000 borrowed. However, not all mortgages require mortgage insurance. For example, USDA and VA loans are two loans that do not require a down payment and do not require that you pay for mortgage insurance. Ask your broker whether you should expect to pay this additional cost.
You’ve found your perfect home, your offer has been accepted, and your loan has been approved; nothing can cause the purchase to fall through, right? Not so fast. Any changes to your spending habits, your credit-to-debt ratio, or your employment could delay closing or even derail it entirely. Talk to your broker about how you can ensure that you are able to close on your home on time.
Throughout your home-buying process, your mortgage broker is one of your best allies. By keeping them in the loop on every decision you make and asking the right questions, you can ensure that the process goes as smoothly as possible.
We want to hear about the great things happening with our members. Have you hired any new employees? Have you expanded? Has your business celebrated a new milestone or received an award? Do you have a special event coming up? Have you supported a local community group?
Send us your announcements, news, events and press releases and we will post it in our members news section and share it on our social media. This is one of the many great perks that we offer members. The Chamber has a high-traffic website and strong social media presence. Our social media channels boast over 20,000 total followers and garners an average of 167,365 impressions monthly and over 2 million impressions annually. The Chamber’s multiple websites have become a go-to resource for local stakeholders, business professionals, elected officials, visitors and groups in our region, averaging 10,000 monthly pageviews.
If you want to increase your exposure, send all business news and events to .
(North Central, MA) – The North Central Massachusetts Development Corporation (NCMDC) – the economic development arm of the North Central Massachusetts Chamber of Commerce – recently approved a $35,000 loan to Emily Shortsleeves, Matt Gallagher, and Brad Touchette, owners of Black Hydra Tattoo located at 68 Airport Road in Fitchburg, MA.
Black Hydra Tattoo, a new tattoo and piercing shop, opened in early summer of 2020 in Fitchburg. Black Hydra Tattoo offers a modern approach, full-service body art destination, providing high-end original artistry. Emily, Matt and Brad are locally grown artists from the Fitchburg area and each have over 10 years of experience as tattoo artists. The studio has six individual stations for five tattoo artists and one piercer.
The $35,000 loan helped with start-up cost associated with opening the business and created 5 full-time positions. NewVue Communities assisted the trio with their business plan and projections. For more information on Black Hydra Tattoo visit them online at https://www.blackhydratattoo.com/.
As a microloan lender, NCMDC can provide loans to small businesses up to $150,000 for working capital, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.
Leominster, MA – Leominster Credit Union (LCU) held its first ever Virtual Annual Meeting on September 15, 2020. During this meeting John O’Brien, President & CEO of Leominster Credit Union announced that he will be retiring effective, November 30, 2020 after 13 years with LCU.
“I have enjoyed my 13 years at Leominster Credit Union as well as my 41 years in the banking industry. The last 7 ½ years as the CEO of LCU has been a very rewarding experience. I believe the Credit Union is in an excellent position, with a strong management team in place, solid results, excellent employee morale, and a strong vision. I feel very fortunate to be able to retire at a time that both works for me, and works well for LCU,” said John O’Brien.
Giulio Greco, Chairman of the Board said, “John is well respected throughout the credit union community and has been dedicated to giving back to non-profit organizations in the communities in which we live and work. He has been a strong asset to Leominster Credit Union, and we will miss his leadership.”
The Board of Directors appointed Barbara Mahoney as the next President & CEO to replace John O’Brien.
Mahoney joined the Credit Union on October 10, 2003 as Vice President of Human Resources. She was promoted to Senior Vice President of Human Resources in March of 2010 at which time she oversaw Human Resources, Training and Facilities. Since her promotion to SVP/Chief Operating Officer in January 2019, and she has been providing leadership, direction and vision for the Operations, Information Technology/Risk, Human Resources and Facilities functions.
Before joining Leominster Credit Union, Barbara was employed for 13 years at Allmerica Financial as Director of Human Resources and prior to that she worked for Bank of Boston.
“I am honored and humbled by the Board’s decision and very excited to take on the CEO role, representing and leading Leominster Credit Union. We have an exceptional team and I know through their passion and commitment we will continue to move LCU forward. John established an excellent foundation and I am confident we are positioned well, for continued success,” said Barbara Mahoney.
Barbara has had many professional affiliations within our community including, The North Central Massachusetts Chamber of Commerce, Economic Development Strategy Committee, Masshire North Central Workforce Board as the Executive Committee Chair, Employers Association of the Northeast Past Executive Committee Chair, HR Network and Cooperative Credit Union Association, New England Human Resources Association, Society of Human Resources Management, HR Council. Barbara currently serves on the Foundation Board for St. Bernard’s High School.
“Barbara brings experience, leadership, strategic vision and a passionate community connection that we feel are critical attributes that will help Leominster Credit Union to continue moving forward over the next several years,” stated, Giulio Greco, Chairman of the Board.
Founded in 1954, Leominster Credit Union (LCU) is a member-owned, not-for-profit financial cooperative with a full range of deposit, lending and other financial services. Headquartered in Leominster, Massachusetts, LCU is proud to claim nearly 50,000 members and more than $700 million in assets. LCU has seven branch locations in Leominster, Clinton, Holden, North Leominster, Sterling and Worcester with ATM services at all branch locations. LCU also provides 24 hour banking via Mobile and Online services. Visit leominstercu.com or call 800-649-4646.
Article Source: Nashoba Valley Voice
Article By: M.E. Jones
DEVENS – The senior housing development on Hospital Road that MassDevelopment rolled out a couple of years ago is now fully functional, partially occupied and filling up fast.
Construction that began in May 2019 was completed earlier this year.
The new community – aptly named Shirley Meadows — is housed in a single, three-story structure, set back at an an angle from the road and with through-way access to the heart of Devens as well as downtown Shirley. It is a handsome addition to the rural streetscape, surrounded by open space, with paved walking paths around the building and ample parking in back.
Situated on about 4 acres that was once the so-called Shirley housing section of the former Fort Devens, the site is within the town’s original borders and the municipal complex – police station, town offices, public library – and is within walking distance, on the opposite side of the road.
At the Hospital Road/Front Street intersection, a sidewalk – currently undergoing a major, grant-funded makeover – extends in both directions as far as the Ayer town line. At the in-town end, the sidewalk leads to Main Street, the train station and the Shirley Village business district.
According to Connie Donahue, executive director of the Chelmsford Housing Authority, which manages the property, the locale is a key part of the package. The area is “service rich” as well as conveniently situated, she said, making it ideal for residents — seniors 62 and over — to “age in place.”

Chelmsford Housing Authority Executive Director Connie Donahue and on-site services coordinator Margaret Leighton — both members of the management team — chat in the Shaker Meadows lobby during a lull at a recent Open House.
She noted, for example, the proximity of health care providers, senior centers and social service agencies and medical facilities such as Nashoba Valley Medical Center.
Donahue’s assessment draws in part on experience with other senior housing communities in the C.H.A. management network, including Chelmsford, Westford and Harvard.
Shirley Meadows’ 58 apartments – 55 one-bedroom and three two-bedroom units –are rented at “affordable” rates based on income levels ranging from moderate (50% of area median) to low (30%.) Eight units are set aside for homeless or at-risk seniors, according to the application packet.
Donahue said the community generated healthy interest from the first and 17 units are already occupied, with a dozen move-ins expected by Oct. 1. The first resident moved in on July 29.
The moving-in process can be daunting in the COVID-19 era, she said, but the community follows all CDC guidelines to ensure the health and safety of its residents and visitors. Common areas are cleaned by an on-site maintenance department. Routine upkeep of individual units are the responsibility of the tenants, but housekeeping services can be accessed as needed.
With a list of applicants lined up, all 58 apartments in the building will likely be rented by the first of next year, Donahue said.
During an open house last week, Donahue and Christina Andersen, CHA’s director of property management and compliance, greeted scheduled guests and conducted tours. They said that 35 people had signed up for the open house, and all of them showed up.
Activity had subsided when a Nashoba Valley Voice reporter arrived. The lobby was empty except for the tour guides and Margaret Leighton, Shirley Meadows’ on-site services coordinator.
A big-screen TV displayed a scrolling video that roamed the building’s corridors, common spaces and apartment interiors. It was telling, but a walk-through was even better.
Anderson led the way along carpeted corridors with apartments on both sides, cream colored walls and a striped, tri-color carpet with a different dominant color on each level.
Given that the hallways look alike, the three color combinations identify which floor is which, Andersen said, a useful perk for residents with memory challenges.
There are two elevators, a common mail room/post-office box area and a laundry room on each floor.
The apartments are small, spare, ready for residents’ to furnish, with windows in each room and easy-care, wood-look floors. Bathrooms feature modern, low-rim showers with grab bars on both sides. Some apartments will be outfitted with walk-in shower units for handicapped residents, Andersen said.
The compact kitchen – identical in all units –opens to the living room. Closets have adjustable racks.
There’s also a spacious common room with glass doors leading to an enclosed outdoor deck with patio tables, chairs and umbrellas. Across the parking lot, raised garden beds await planting.
The common room has a fully-equipped kitchen and can be reserved for gatherings, Andersen said.
At one end of the large room, Diane Welch had a table set up with handouts, a raffle and gifts.
Welch is an account executive with Fallon’s Summit Elder Care, operating under the umbrella of a national program called PACE, which has a medical office/treatment room on the building’s first floor.
Without once referencing the detailed information packet on the table, Welch rattled off an array of services Fallon offers to participating residents, including medical care, counseling and referrals.
Support services such as in-home aides who can help with shopping and personal care, even ethnic cooking, make it possible for people who need “nursing home level” care to live at home, she said.
She said there are a host of medical and mental health offerings available to Fallon plan members age 55 and over, including adult day care, with five centers across the state. The closest is in Leominster.
The PACE office was one of the stops on Andersen’s building tour. When it’s furnished, and staffed, residents can get medical treatment there, she said, including injections.
For more information about Shirley Meadows, the number to call is 978-256-7425 to reach Christina Andersen.
Uplift with Laughter and Meditation (Virtual Event)
Wednesday, October 28, 2020, at 7:00pm
Join Markus Schramm, CEO of an International company and longtime meditator on Wednesday, October 28, 2020 at 7:00 PM for this powerful workshop. Research shows that laughter is good for the body, mind and soul. Experience the joys of life which accompany a positive attitude and support a spiritual lifestyle. At this workshop you will find ways to replenish your positive energy, let go of worry and connect with your spirit through meditation
Please register at :https://tinyurl.com/fplmeditation
A link to the meeting will be emailed to you prior to the event.
This is a free program. For information about this or other Library programs call 978-829-1780 or visit our website: www.FitchburgPublicLibrary.org.
When the workday ends and the lights go down, Custom Cleaning Service of Peabody, Inc. gets to work. “We operate as our clients’ silent partner after business hours,” says Adam Paicos, of Templeton, who now serves as Director of Operations and oversees the company’s expansion into North Central MA. “We are not often seen, but we ensure facilities are clean, secure, and ready for business each day while serving as the eyes and ears for our clients when they are not on site.”
Discover local business stories through our Inside North Central Massachusetts Podcast series. Listen as Chamber members share their journeys, insights, and contributions to our thriving regional business community.
Looking for your next opportunity? Explore current job openings from employers across North Central Massachusetts on our Jobs Board. Whether you’re starting a new career or making a change, you’ll find a variety of local positions available to help you take the next step.
CapEx Facility Services & Construction · Leominster, MA
TaraVista Behavioral Health Center · Harvard, MA
DRS Power Technology, Inc. · Fitchburg, MA
AIS · Leominster, MA