Exchange Authority announces relocation to Worcester

Financial services leader moving from Leominster in response to growing market needs

Exchange Authority, a leading consultant and facilitator for Section 1031 exchanges and a wholly owned subsidiary of Fidelity Bank, today announced the relocation of its offices from Leominster to Worcester. 

All Exchange Authority staff relocated to the Fidelity Bank banking center located at 465 Shrewsbury Street in Worcester, effective February 21, 2022. The organization will continue to offer the same services clients and referral sources have come to know and trust for more than 20 years and will continue to serve all 50 states and the U.S. Virgin Islands. 

The move to Worcester comes on the heels of the Exchange Authority experiencing tremendous growth. In 2021, the organization realized a 30 percent increase in total exchanges, and a 48 percent increase in escrow receipts. The $226 million that flowed through the company in 2021 yielded a 37 percent increase in the average daily balance, ending the year with just over $51 million on deposit. 

“While the decision to move from Leominster was a difficult one, this move will provide us with the opportunity to be closer to our clients and respond to growing market needs,” said John Peculis, President and CEO, Exchange Authority. “We believe this move better positions us to serve our clients and partners in the financial services industry and also presents the opportunity to work alongside colleagues at the newly-renovated Shrewsbury Street banking center.”

Fidelity Bank recently completed a state-of-the-art renovation at the Shrewsbury Street banking center which included new offices, an enhanced teller pod experience and upgrades with modernized technology.