BRIST L COUNTY BUSINESS NEWS The Official Publication of the Bristol County Chamber of Commerce, Inc.
April 2018 Edition
The Voice of Business Since 1911 www.bristolcountychamber.org
CHAMBER MEMBERSHIP MATTERS Chamber membership is more than having a voice for local businesses. The Chamber can be a rainmaker for your company. That is why the benefits we offer at the Bristol County Chamber of Commerce are specifically tailored to increase a member company’s productivity, efficiency, access to information and influential people, and above all, generate new revenue streams.
Welcome New Chamber Members Atlantic Sports Bar Milestone Realty, Inc. Carreiro Law Office PLLC Troy City Mortgage LLC Venus Nails & Spa, LLC
Benefits of Membership What We Do: • • • • • • • • • • • • • • • •
Your Voice in Government Business Tax Rate Reduction Improved Business Climate Infrastructure Development Transportation Planning Tourism Center and Promotion Education & Workforce Development Communications and Outreach Help Member Businesses Save Money Available Legal Triage Provides Relocation Packages Ribbon Cutting Ceremonies Best Practice Energy Savings Programs Business Referrals Promotes Shopping Locally Provides Relevant Information
Benefits to Business: • • • • • • • • • • • • • • • • •
Health Insurance Referrals Member to Member Discounts Free Notary Services Free Certificate of Origin Services Legislative Advocacy Business After Hours Networking Technical Assistance Electricity Cost Savings Affinity Programs Free Business Spotlight in Bristol County Business News Annual Membership Directory Corporate and Event Sponsorships Bristol County Business Expo Bristol County Home & Garden Show Monthly Learning Seminars Weekly E-blasts Voice of Business Radio Show Bristol County Business Connection Television Show (continued on page 3)
ASEAMS Sid Wainer & Son Dollar Daze
SAVE THE DATES: April 10th, 2018
A Legislative Dinner with Massachusetts Governor Charlie Baker April 18th, 2018
Business After Hours June 14th, 2018
Bristol County Community Service Awards
Bristol County Business News PUBLISHER Kimberly Coroa Moniz, Interim Director MANAGING EDITOR Jennifer Lourenco, Communications Manager ADVERTISING MANAGER Kimberly Coroa Moniz, Interim Director The “Bristol County Business News” is produced monthly by the Bristol County Chamber of Commerce, Inc. The opinions featured in this publication do not necessarily reflect the views of the Chamber staff, nor of the members of the Chamber Board of Directors. This newspaper is printed at Mallard Printing. All letters to the editorial page must be signed and include a phone number. All submissions are welcome and should be sent via email to: communicaitons@bristolcountychamber.org
MISSION STATEMENT The mission of the Bristol County Chamber of Commerce, Inc. is to be the primary business and community information source for its members and the public to provide networking opportunities for its members; and serve as an advocate, on behalf of its members, at the local, state and federal government levels.
Bristol County Chamber of Commerce, Inc. 200 Pocasset Street, Fall River, MA 02721 Phone: (508) 676.8226 Fax: (508) 675.5932 www.bristolcountychamber.org 2
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2018 OFFICERS & EXECUTIVE COMMITTEE: Chair of the Board: Brian LeComte, Gold Medal Bakery Immediate Past Chair: Carl Garcia, Carl’s Collision Center Chair Elect: Bill Perkins, People, Incorporated First Vice Chair: Eileen M. Danahey, Saint Anne’s Credit Union Second Vice Chair: Nick Christ, BayCoast Bank Treasurer: Matthew Schondek, Fall River Municipal Credit Union Clerk: Curtis Nelson, Nelson Insurance & Financial Services Interim Director: Kimberly Coroa Moniz BOARD OF DIRECTORS: Term Ending 2018 Carmen Aguilar, Bristol Community College Monte Ferris, Venus de Milo Anthony Medeiros, Mechanics Cooperative Bank Marty Monteleon, Individual Arthur Pacheco, New York Life Jason Rua, RDA Insurance Dawn Rusin, Re/Max Right Choice Term Ending 2019 Mike Bushell, St. Anne’s Hospital Bill Burns, SouthCoast Health Systems Catherine Dillon, BankFive Charlie Fellows, LaFrance Hospitality Melody Lavoie, Medeiros, Lavoie & Wilson, Inc. Doug Rodrigues, D.E. Rodrigues & Company, Inc Matt Zenni, Liberty Utilities Term Ending in 2020 Linda Baker, Baker Signs Works LoriAnn Taylor Branco, Center for Sight Roger A. Cabral, Bristol County Savings Bank Michael Lund, Borden Light Marina Scott O’Brien, O’Brien’s Plumbing & Heating, Inc. Carl Sawejko, Sawejko Communications Tobias Stapleton, UMass - Center for Innovation and Entrepreneurship EX-OFFICIO MEMBERS: Frank Marchione, President, FROED Kenneth Fiola Jr., Esq., Executive Vice President, FROED CHAMBER STAFF: Kimberly Coroa Moniz, Interim Director Brianna Rebelo, Manager of Operations & Finance Joe Trilling, Manager of Membership Development Jennifer Lourenco, Communications Manager
The Massachusetts Small Business Center (MSBDC) Network provides on-to-one free comprehensive and confidential services focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis. In addition, low cost educational training programs are offered across the state targeted to the needs of small business. Massachusetts Small Business Development Center Network 200 Pocasset Street, Fall River, MA 02721 Phone: (508) 673-9783 Fax: (508) 674-1929 www.msbdc.org
www.facebook.com/msbdc
Melinda Ailes Senior Business Advisor Clifford Robbins, Senior Business Advisor Daniel Lilly Government Sales Advisor Anne Fenton Client Services Coordinator Alison Moriarty Administrative Assistant Jill Beresford Senior Business Advisor Nancy Lowd Senior Business Advisor
WHY CHAMBER MEMBERSHIP MATTERS “There are many ways for a small business to promote itself but I have found over the many years that I have in business that networking is the best and the Chamber provides that platform. The contacts that I have made through my membership in the Chamber have helped me grow my business and at the same time develop some great relationships both professional and personal.”
Curt Nelson President, Nelson Insurance & Financial Services
“Being a member of the Bristol County Chamber has given our business a sense of being part of the community. I feel being a member has helped with the growth and success of Center for Sight. I would recommend any business, large or small, to join and get involved. It’s a really good feeling doing business with people you know.” Lori Branco
Optical Manager, Center for Sight
Your decision to join the Chambe indicates an interest in improving your company’s bottom line and commitment to the community. For additional information on how to become a member of the Bristol County Chamber of Commerce please contact: Joe Trilling Manager of Business Development (508) 676.8226 jtrilling@bristolcountychamber.org
APRIL 2018 CALENDAR
All meetings are held at the Chamber unless otherwise noted
4/10 TUES.......A Legislative Dinner with Massachusetts Governor Charlie Baker Sponsored by: Southcoast Health Location: White’s of Westport 66 State Road Westport, MA Cocktails/Registration at 5 p.m. 4/13 FRI.................................................................Education Committee Meeting 11:30 a.m. 4/18 WED...............................................................................Business After Hours Sponsored by: Mallard Printing & Amaral Associates Location: 657 Quarry Street Fall River, MA 5 p.m. - 7 p.m. 4/20 FRI.....................................................................Government Affairs Meeting 8 a.m. 4/23 MON..................................................................Finance Committee Meeting 11:30 a.m. 4/23 MON...............................................................Executive Committee Meeting 12 p.m. 4/25 WED.........................................................................................Board Meeting 11:45 a.m.
IN THIS EDITION Business News
Page(s) 4, 6, 7, 13, 17
Education News
Page(s) 8, 9, 12
Chamber in the Community
Page(s) 10 & 11
Financial News
Page(s) 14, 15, 16
Member Discounts
Page(s) 18 & 19
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Member Spotlight: Couto Construction
Couto Construction was founded in 1987 as a family business and remains one today, run by brothers Jason and Derek Couto. The company specializes in roofing, siding and gutters, using topnotch materials while promising excellent craftsmanship. Couto Construction is the area’s only Owens Corning Platinum Preferred contractor, is an Angie’s List Super Service 2017 Award winner and maintains an A+ rating from the Better Business Bureau. Along with older brother Brian, the quality control and project manager, the brothers pride themselves on reputation in the community. They learned from their father Gil, who founded the business, that a happy customer ensures a bright future for their business. Couto Construction 24 Ernest St New Bedford, MA 02740 1-844-223-5267 or 1-508-689-7080 www.coutoconstruction.com
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Mallard Printing is proud to partner with the Bristol County Chamber of Commerce for the printing of this newsletter. 657 quarry street fall river, ma 02723 p 508.675.5733 mallardprinting.com
For all your
needs
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Lafrance Hospitality to Open a TownePlace Suites by Marriott in Westport, MA
tion of the project. The two companies have successfully worked together on several hotel openings and renovations over the years.
WESTPORT, MA – Lafrance Hospitality Company is in the early stages of building a 90-room TownePlace Suites by Marriott in Westport, MA. This will be Lafrance Hospitality’s second hotel in Westport - the first being the Hampton Inn Fall River/Westport, which was the first hotel built, owned, and operated by Lafrance Hospitality. The new property will be conveniently located on State Road in Westport, MA, immediately off Interstate 195 alongside the Hampton Inn and White’s of Westport. Fully equipped with pool and fitness center, this state-of-the-art suitestyle hotel will be a perfect complement to nearby Lafrance properties - Hampton Inn Fall River/Westport, the Galley Grille restaurant, and White’s of Westport regional conference center. Lafrance Hospitality will be partnering with a design-build construction firm, Opechee Construction Corporation, on the design and construc6
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Lafrance Hospitality is currently in the permitting process for this hotel and expects to break ground this fall. The Grand Opening is expected to take place Fall 2019. About TownePlace Suites by Marriott
cious suites with full kitchens. About Lafrance Hospitality Established in 1946, Lafrance Hospitality Company, headquartered in Westport, MA, is a family owned enterprise that owns and operates thirteen hotels throughout New England and Florida, five function facilities, four restaurants and a catering division. In addition, Lafrance Hospitality Company offers restaurant and hotel management and consulting services as well as distressed asset management. Their vision is to be the premier hospitality company by employing the very best people, trained and empowered, to deliver a quality product with sensational service to every guest, every time.
TownePlace Suites by Marriott® is designed for extended stay travelers who want to feel at home and stay productive. To appeal to these guests seeking authenticity, personality and a seamless experience, the concept infuses local flavor into a quiet neighborhood setting, complete with the added comfort, service and quality of an all-suite hotel. With nearly 330 locations, 195 Broadway, Fall River, MA the hotels offer 508-675-7433 extraordinary Open Wednesday evenings until 8:00 pm value, including Hours: Mon. - Fri. 8:00 am - 4:30 pm, Wed. until 8:00 pm, Sat. 8:00 am - 3:00 pm www.bathsplashshowroom.com modern spa-
Locations: Fall River, MA • Plainville, MA • Hyannis, MA • Cranston, RI HVAC Locations: Woburn, MA • Avon, MA • East Hartford, CT
Small Business Advice: Review, Revise, Reinvent, Then Repeat – how did you do? What happened? What can we learn from that? The next step is to revise, change what didn’t work, and come up with some new ideas or strategies that might work. Or maybe the goal or strategy itself was not a good one, so chuck it out and come up with something more relevant. Of course, it goes without saying that you don’t want to do this process of review and revise in a vacuum. You may be the owner or head of the company, but that doesn’t mean you have all the best ideas. The ideas are in the room. They are from your managers and employees whom you have hired and put faith in. Listen to what they have to say and shape it into a plan that everyone can get behind. Yes, it’s that time of year again to dust off the old strategic plan, or goals and see how you are doing. If you’ve been doing this monthly or quarterly, or even better bi-weekly, good for you, but you are in the minority. It was Eisenhower who said, “Plans are nothing, planning is everything,” and he was right. I often go into companies and they are so busy doing business, meaning day-to-day operations, etc., that the goals they set out at the beginning of the year have ended up ignored. Don’t get me wrong, these companies are having some success and things are going along well, but what if more attention had been paid to those nicely laid out plans? Would they have achieved that extra 10% top or bottom line? Would they have added that crucial market sector they have been after for years? The reality is, it’s doubtful. Let’s consider why. Continuous planning coupled with execution is one of the keys to business success. If you plan at the beginning of the year and never adjust you are always reacting to what’s happening instead of making things happen. To change this trajectory start by reviewing what you thought you wanted to accomplish this year
The last step is to reinvent. So often we are caught in our plan because of our beliefs around “what is.” It colors our beliefs about what “could be.” When I facilitate planning exercises, I tell people to think 3 years ahead and color in the picture for me of what the company looks like, who the customers are, what products are you selling and to whom, etc. But NOT based on the facts of today, based on the possibilities of tomorrow. It’s only in our belief that something can happen that it will. So reinvent the future, not by the rules or restrictions of today’s landscape, but by the possibilities not yet imagined. This doesn’t need to be a long drawn out process, you need a competent facilitator (preferably not you, the owner or leader) and a target of where you want to go. The bones of a plan that can be implemented and an easy process for getting there. Too much complexity in the strategic plan and everyone will lose interest. Keep it simple and executable. And remember to build in your review times so you can revise and reinvent, then repeat.
Mary Marshall’s passion is helping entrepreneurs and executives achieve their dreams. She’s been a CEO, an owner and chief cook and bottle washer. She’s been a Vistage Chair, Member and Executive and coached leaders to find their own success. In 2014, her first book, “Putting Together the Entrepreneurial Puzzle: The Ten Pieces Every Business Needs to Succeed” was published as a collection of the most common problems that hamper small business success. Mary’s current role is as the Principal of Marshall Advisors, LLC which is a consulting practice in Seattle focusing on strategic planning, CEO and Executive coaching and leadership development. She speaks on Intentional Culture for organizations nationally. Interise and BCCC will be partnering for the Fall 2018 to offer a 7-month “Business Bootcamp” professional development course, “The Streetwise MBA”, for Bristol County entrepreneurs to develop a strategic growth plan for their business while expanding their professional network of small business owners in the region.
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Diman Foundation Achieves Five Years of Success grounds at Diman Regional.
In March 2013, the Diman Bengal Education Foundation received the final approval from the IRS to complete the non-profit steps. By July a seventeen member board held the first meeting of this new organization. At this meeting, officers were elected and the mission statement was finalized to include soliciting private funds for innovative projects and improvements to facilities/
Over the next five years the Foundation has contributed funds to a variety of projects at the school in accordance with this mission. Projects have included construction of a Service Center in the Auto Tech shop, various equipment items in Carpentry, Machine and Electrical shops, Point of Sale Technology for the Culinary Arts shop, school front entrance upgrade, building storage addition for the Physical Education Department, Physics Lab renovation with the Science Department and resurfacing of the soccer/football field for the Athletic Department. In celebration of the Foundation completing five years, the board of directors recently voted to fund the Culinary Arts shop Room 251 public
dining expansion to include an outside terrace. This project was selected to honor Culinary Arts 1972 graduate Frank Santos. While being a Foundation board member he has been the largest contributor of private funds for school projects. Also, the Foundation is holding a fund raising event this month, which will fund another project at the school based on the revenues. In addition, the Foundation board is attempting to identify private funds for the new Medical Assistant shop. Over $10,000 has already been secured from two local health organizations. In addition to Foundation board members who have contributed funds, the Foundation has secured private funding from a variety of group. They include Bank Five, Bay Coast Bank,
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Dave’s Tire & Auto Service (508) 679-6482
Guaranteed Service & Repairs for Domestic & Foreign Cars, Light Trucks & SUV's • Computerized Wheel Alignment • Brakes/Front End • Shocks & Struts • Tune-ups/ Oil Change • Air Conditioning • Mufflers/Exhaust www.davestireandauto.com 352 Bedford Street Fall River Open Monday - Saturday at 7:30 a.m. Mention this ad for a 10% discount on parts with repairs 8
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Fall River Rotary Club, Rodgers Foundation, AA Precision Company, G & J Property Management, Diman graduates, current and retired Diman employees, Prima Care, Steward Saint Anne’s’ Hospital, RALCO Electric & Generator, Donovan Electric & Alarm, Sawejko Enterprises, Lafrance Hospitality and Empire Hyundai.
Presents:
A Legislative Dinner with
Massachusetts Governor Charlie Baker
During the first meeting of the Foundation five years ago, seventeen board members made a commitment to this new non-profit organization. All members have continued on the board, they include Edward Hill, Carl Sawejko, Steve Souza, Roger Dugal, Arthur Arruda, Paul Medeiros, Rene Lachapelle, Jerry Donovan, Jerry Gunner, Richard Urban, Gabe Andrade, Kevin Santos, Frank Santos, Suzanne Ramos, Chuck Gregory, Edward Terceiro and Jeffrey Ringuest. At the 2017 annual meeting, Brain Bentley and Tina Bell were added to the board.
Tuesday, April 10th 2018
Sponsored by:
White’s of Westport 66 State Road Westport, MA Cocktails/Registration at 5pm Dinner at 6 pm Program to begin at 6:45 pm
Chamber Members $65 per person Non Chamber Members $75 per person
Current Foundation President Sawejko is looking forward to his new position on the board after being the First Vice President for five years. “For a startup Foundation we’ve had tremendous success over the first five years. I look forward to the challenge of maintaining this growth”, stated Sawejko. The Foundation has been a Bristol County Chamber member for five years and Sawejko is a member of the Chamber’s Board of Directors.
Corporate Table Sponsors (10) $1500
Includes full page (BW) ad in program • Logo on table • Preferred table placement Program Book: Half Page Ad (BW): $200.00 • Full Page Ad (BW): $300.00
For more information, or to register, please call (508) 676.8226
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Chamber in the Community
FRMCU President and CEO, Matthew Schondek receives 2018 Bristol County Chamber of Commerce’s Chairman’s Award 107th Annual Meeting, Venus de Milo (2018 Chair of the Board Brian LeComte, Matthew Schondek, 2016 & 2017 Chair of the Board Carl Garcia) (February 28th, 2018)
Government Affairs Committee Meeting Gold Medal Bakery Fall River, MA (March 16th, 2018)
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Portugalia Marketplace owner Michael Benevides receives 2018 Bristol County Chamber of Commerce’s Business Excellence Award 107th Annual Meeting, Venus de Milo (Michael Benevides, 2018 Chair of the Board Brian LeComte) (February 28th, 2018)
Venus Nails & Spa Grand Opening/Ribbon Cutting SouthCoast Marketplace (March 15th, 2018)
Chamber in the Community
2018 Bristol County Home & Garden Show
2018 Bristol County Home & Garden Show Diman Regional Vocational Technical High School Fall River, MA (March 10th, 2018)
2018 Bristol County Home & Garden Show
2018 Bristol County Home & Garden Show Diman Superintendent Thomas Aubin
Qdoba Grand Opening/Ribbon Cutting SouthCoast Marketplace (February 27th, 2018)
2018 Bristol County Home & Garden Show Diman PAC Group
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Education News: Education wins - what’s next?
It’s a big win for the Southcoast. Within a week of each other, two municipalities asked voters to step up and approve debt exclusions to build new schools. By 2-to-1 margins, Westport and Fall River made resounding decisions to say yes. As a member of the Bristol County Chamber Education committee and consultant to both campaigns, it seems to me that this win accomplishes more than just building two badly needed secondary schools. It also united two communities to talk about educational aspiration and to come together to jumpstart the future of our children now and for generations. No matter how you voted, these schools are being built for you, too. Both Fall River and Westport voted to exclude the cost of their share of the bond to build the new schools from the Prop 2 ½ tax levy. It does not raise taxes permanently; it does not eliminate Prop 2 ½; it was required to match the funds offered by the Massachusetts School Building Authority (MSBA). 12
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On both sides in both municipalities, everyone said they supported education – but the “no” side said they were against investing in this way. In Fall River, most everyone agreed that falling-apart Durfee needed a solution. In Westport, despite a middle school closed by PCB contamination and an aging high school, those against the plan thought that the town couldn’t afford to fix the problem. But it is hard to see how building schools that accommodate the changes needed to prepare students for the 21st century is anything but the ultimate support for the changing face of education and of the 21st century workforce. Education has changed dramatically since many of us now in the workforce were in school. I was in the “chalk and talk” system -- I sat in rows in my classroom facing the board, while my teachers provided me information. And don’t even think about talking in class (which was my downfall, as evidenced by comments from my teachers on report cards.) The teachers were the channels – we were the receivers. We were expected to work alone; to process alone; to produce alone; and we were graded on the output. The internet changed everything. Now students have access to an immeasurable amount of information. These digital natives know how to find stuff – for good or ill. At the same time employers discover that the so-called “soft skills” – collaborating with peers,
communicating on many different channels, cultural sensitivity – are needed to address the changing nature of the world. It can make a difference in a global competition. Education has changed to adapt to developing those skills. Teachers become coaches that help students access and assess information to use in compelling and thoughtful ways. Students now work together to collaborate toward a goal – a group project on dinosaurs, or a class digital newspaper. Using the ubiquitous technology in the world, they prepare to take their places in it. What these new investments in both communities mean is that teachers will have the tools and the purposeful construction and facilities to remove hurdles to providing students with this 21st century education. Our kids will be able to compete effectively in a worldwide marketplace with those who live in communities that have the foresight to accept the Commonwealth’s investment in us, and to step up to do our part. Let’s keep talking about how to make education better and to keep the momentum going that does more that just build buildings –- but keeps education “top of mind” as the primary economic driver for our region. We will all benefit from this healthy discussion. Sally Chapman Cameron Cameron is Communicator for ThreeC Strategy, a strategic communications firm, and a member of the Education Committee of the Bristol County Chamber of Commerce.
Saint Vincent’s Achieves National Accreditation
FALL RIVER, MA – Saint Vincent’s has achieved national accreditation through the New York-based Council on Accreditation (COA). Saint Vincent’s provides the following services provides residential direct care, in-home and community-based services, outpatient behavioral health, residential and group living support, and many forms of support and stabilization for families. It took Saint Vincent’s 18 months to achieve accreditation. Organizations pursue accreditation to demonstrate the implementation of best practice standards in the field of human services. COA evaluated all aspects of Saint Vincent’s programs, services, management, and administration. COA accreditation is an objective, independent, and reliable validation of an agency’s performance. The COA accreditation process involves a detailed review and analysis of an organization’s administration, management, and service delivery functions against international standards of best practice. The standards driving accreditation ensure that services are well-coordinated, culturally competent, evidence-based, outcomes-oriented, and provided
by a skilled and supported workforce. COA accreditation demonstrates accountability in the management of resources, sets standardized best practice thresholds for service and administration, and increases organizational capacity and accountability by creating a framework for ongoing quality improvement. To achieve COA accreditation, Saint Vincent’s first provided written evidence of compliance with the COA standards. Thereafter, a group of specially trained volunteer Peer Reviewers confirmed adherence to these standards during a series of on-site interviews with trustees, staff and clients. Based on their findings, COA’s volunteer-based Accreditation Commission voted that Saint Vincent’s had successfully met the criteria for accreditation. An endorsement of COA and the value of its accreditation process is reflected in it being named by the US State Department as the sole national independent accrediting body under the Hague Convention on Intercountry Adoption to accredit intercountry adoption service providers. In addition, COA is the only national accreditor designated by the U.S. Department of Defense to develop accreditation standards and processes for human
service programs provided to military personnel and their families. Founded in 1977, COA is an independent, not-for-profit accreditor of the full continuum of community-based behavioral health care and social service organizations in the United States and Canada. Over 2,000 organizations — voluntary, public, and proprietary; local and statewide; large and small — have either successfully achieved COA accreditation or are currently engaged in the process. Presently, COA has a total of 47 service standards that are applicable to over 125 different types of programs. To learn more about COA, please visit www. COAnet.org Saint Vincent’s is a multi-service behavioral health, child and family serving organization with program sites in Fall River and Plymouth. Staff provides direct care, in-home and community-based services, outpatient behavioral health, residential and group living support, and many forms of support and stabilization for families. For 133 years, Saint Vincent’s has been Working with Children and Families to Preserve Hope. For more information, please call Saint Vincent’s at (508) 679-8511 or visit stvincentshome.org 13
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Financial Advice: Debt Management Solutions to wealth management. If you’re like most people, you’ll need to manage finances for both present and future needs. That means paying off some debt today while simultaneously investing with an eye on the future. Although your decisions should take into account your own needs and circumstances, consider the following guidelines for handling debt in light of investing goals:
Balancing debt repayment with investing goals takes some strategy and planning. Some consider investing as a first line of defense while paying down debt as a second. The debt dilemma The process for eliminating debt is anything but an easy-to-solve financial equation. Many people wonder if they should pay off their debt as quickly as possible or invest their money, letting debt payments run their course. The answer depends on whom you ask. Theories about balancing investing with debt vary widely. Some financial experts say freedom from debt is the most important goal. Others say it’s more about the math: Your money should go toward investing if your investments earn a higher rate of return than your debts cost you. Still others focus on the emotional aspect: How comfortable are you with a certain level of debt? Neither one nor the other Better yet, perhaps, is a balanced approach 14
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Save for a rainy day. Before paying down debt (beyond required payments) or settling on an investment strategy, make it your first priority to put funds aside for an emergency reserve. We recommend six months or more of living expenses; an absolute minimum is three months’ worth. These funds should be in traditional savings or very short-term, highly liquid, low-volatility investments. Put your future first. As a general rule, your long-term investment plan should take priority over applying extra amounts toward debt. Be careful as well not to let “lifestyle creep,” a tendency toward more expensive tastes and luxury consumption, impede your investment outlook. By contributing to a long-term investment plan as early as possible, you may set yourself up for a brighter future. If paying down debt is also a priority, you’ll want to examine your personal budget to decide how much to direct each month toward investing and how much toward debt repayment. Just remember, there are no magic numbers. In general, the best advice is to make sure your investment strategy fits your financial expectations for the future. Prioritize your debts. With an emergency fund in place and your investment strategy
up and running, putting any extra money toward your debts is also a smart way to go. But how do you decide which debts to pay down first? One approach is to start with the smallest debts first to eliminate at least some of your debt burden and interest payments in a timely manner. It also makes sense to pay off high-interest debts like private student loans and credit card debt more quickly. Federal student loans and mortgages might be lower priorities, because their rates are often lower and their terms are longer. Vehicle loans might fall somewhere in the middle. Tax considerations might also come into play. It’s personal. As you divide and conquer debt, don’t forget to consider the emotional side of your strategy. If paying off a certain debt will help you feel more secure, you might want to go with your gut feeling. You’ll enjoy a growing sense of financial freedom as you stay on course and get your debt under control. As it shrinks over time, you may find you have more funds available for enjoying the present and focusing on the future. This article was written by/for Wells Fargo Advisors and provided courtesy of Nelson Dias, Financial Advisor in Providence, RI at 401-459-6872. www. wfadvisors.com/nelson.dias Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. © 2018 Wells Fargo Clearing Services, LLC. All rights reserved.
Bristol County Savings Bank Continues to Originate Loans Through Small Business Banking Partnership TAUNTON, MA - Bristol County Savings Bank is one of 42 Massachusetts banks participating in the Small Business Banking Partnership created by the Massachusetts State Treasury. This program is redistributing state tax funds to insured, responsible community banks that will extend new loans to small businesses. Bristol County Savings Bank was originally approved for and received $5 million under the Small Business Banking Partnership in July 2011 and then received an additional $5 million in funds under the expanded program in March 2012. The Bank is currently one of only 27 Massachusetts banks to have
treasury to local banks. In this way, tax funds are being used to speed economic recovery through new loans to small businesses which, in turn, will lead to new jobs and more money available to engage in business activity.
received the additional funding, up to the maximum of $10 million. The program was started on July 13, 2011 and since that time Bristol County Savings Bank has originated 414 small business loans that meet the underwriting requirements outlined by the Small Business Banking Partnership, with committed original loan balances totaling $48,927,484.10, and with outstanding principal balances of $19,130,305.68 as of December 31, 2017.
The Main Office and Corporate Headquarters of Bristol County Savings Bank are located on Broadway in Taunton, Massachusetts. For additional information, please call 508-8246626 or visit www.bristolcountysavings.com.
This initiative is not costing Massachusetts taxpayers as it simply reallocates previously paid tax funds from the
Your business success is our personal commitment.
Our Fall River commercial lending team is ready to help your business grow. As the #1 small business lender in Bristol County* and an SBA Preferred Lender, we're known for great personal service, prompt, local decision-making and custom banking solutions. To discuss your financing needs, call 508-993-3472 or visit one of our branch locations. L-R: Roger Cabral, VP Commercial Lending; Joan Medeiros, VP Commercial Lending; Pete Selley, SVP Commercial Lending; Len Sullivan, First EVP & Sr. Loan Officer; Rich Farmer, VP Commercial Lending; & Michael Patacao, VP Commercial Lending.
www.bristolcountysavings.com
Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
*Based on total loan originations as reported in the 2015 aggregate small business loan data to the Federal Reserve under the Community Reinvestment Act.
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Taunton Federal Credit Union CEO Announces Retirement, Successor Named
John Damaso, CEO of Taunton Federal Credit Union (TFCU), has announced his plans to retire on July 6, 2018 after a career in banking that has spanned over 40 years. Damaso has worked at the credit union since July 1993, and has been CEO since 2006. Under Damaso's leadership, TFCU has grown to more than $150 million in assets and currently serves 17,000 members. In 2013, Damaso oversaw the addition of the Credit Union’s second location in Middleboro. In 2015, he was successful in expanding the field of membership for TFCU to include all of Bristol County, MA and the majority of the state of Rhode Island. In 2017, he led the effort to open the Credit Union’s third location in New Bedford. “It has truly been an honor to be part of the tremendous growth and prosperity of the Credit Union.” Damaso said. TFCU's Board of Directors has appointed Nelson Tavares as his successor. Tavares has spent 17 years in the credit union industry, joining TFCU in 2012 as Assistant Vice President. In 2014 he was promoted to Vice President, and is currently TFCU’s Senior Vice President. Damaso says “the future of the Credit Union is in very good hands, as Nelson will continue to guide the Credit Union with continued success.” Established in 1947, Taunton Federal Credit Union is a full service Financial Institution with branches in Taunton, Middleboro and New Bedford. For more information, please call (508)824-6466 or visit www.tauntonfcu.com. 16
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Space Available at 139 South Main Street, Fall River MA 40,000 SF Subdividable Space Available: • Office • Classroom • Retail • Commercial • Medical • Artist Work Space/ Studio • Fitness/Yoga Studio
• Easy highway access • Located between 2 parking garages
Nearby Amenities:
For additional information please contact Lynn Oliveira at l.oliveira@froed.org or (508) 324.2620
• Cafe & Coffee Shops • Restaurants • Convenience Stores • Retail • Fall River Justice Center • Fall River Government Center • Post Office • Bus Terminal
Chamber Seeks Nominations for Community Service Awards
Each spring, the Bristol County Chamber of Commerce presents several Outstanding Community Service Awards to truly deserving individuals. This year, the awards will be presented during the 50th Annual John S. Brayton, Jr. Memorial Community Service Awards Banquet. The Chamber is currently soliciting nominations from both the membership and the general public. This award recognizes significant voluntary participation of extraordinary nature by an individual or a com-
pany. Their participation can range across a broad spectrum, including social service agencies, charitable organizations, non-profit community clubs and organizations, governmental agencies and individual effort. Long-term performance is not a requirement, as long as the work being recognized is clearly of deserving nature. The Awards Selection Committee will carefully review and select the most deserving recipients.
Nominations should include a written summary of the individual or company’s service to the community and qualifications. Nominations must be received by April 27, 2018 and should be mailed to the Bristol County Chamber of Commerce, 200 Pocasset St., Fall River, MA 02721, to the attention of Kimberly Coroa Moniz, or can be e-mailed to kmoniz@bristolcountychamber.org
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MEMBER TO MEMBER DISCOUNTS MAKE SHOPPING LOCALLY EASY! 3RD EYE PHOTOGRAPHY 10% Off & Free Initial Consultation (508) 212.9052 ACCURATE SERVICE, INC 10% Off Storage (508) 674.5773 APPLEBEE’S FALL RIVER 10% Off, Food Only (508) 675.1110 ASEAMS Free alterations with 1st purchase (774) 634.8307 AT YOUR SERVICE 10% Off (508) 677.6700 BAKER SIGN WORKS 10 % Off, $500+ (508) 674.6600 BARRETT’S ALEHOUSE One 1/2 price app with any purchase (up to $5 value) (508) 674.3600 BATTLESHIP COVE 20% Off (508) 678.1100 BK’S TAVERN 15% Off, Food Only (508) 675.5044 BLOUNT CLAM SHACK & COMPANY STORE 10% Off (774) 888.0050 BOYS & GIRLS CLUB 15% Off Senior Membership (508) 672.6340
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CAMARA’S HEATING & AIR CONDITIONING 10% Off (508) 636.8325 CENTER FOR SIGHT $50 OFF Pair of Eyeglasses $500.00 OFF Lasik (508) 730.2020 CHILDREN’S MUSEUM OF GREATER FALL RIVER 10% Off Admission (508) 672.0033 COMFORT INN & SUITES 10% Off Room Rates (508) 672.0011 CORPORATE IMAGE APPAREL INC. 10% Off (508) 676.3099 DAVE’S TIRE PRO’S 10% Off Parts with Repairs 10% Off Tires (508) 679.6482 D.E. RODRIGUES & CO. Free Initial Consultation (508) 679.6079 DELKEN DRY CLEANING 10% Off (508) 679.0999 DOTTIE LEBEAU FOOD SAFETY CONSULTANT 10% Off First Inspection (401) 385.9040 E2SOL LLC 10% Off (401) 489.2273
EMPIRE HYUNDAI, INC. 10% Off Parts & Labor 15% Off All Accessories Purchased at Parts Counter/Service Desk (508) 673.7646 FINANCIAL PLANNING ALTERNATIVES Complimentary 1 hr initial consultation & $250 Off Comprehensive Financial Plan (508) 636.6521 1125 State Road Westport, MA GASPAR’S LANDSCAPING 10% Off (508) 677.3502 GENERAL FITNESS 20% Off All Memberships (508) 677.4933 GOT SUN GO SOLAR $500 Off (774) 229.2986 INDOFF/DARTMOUTH 10% Off (508) 971.4141 INTERACTIVE PALETTE 5% Off Website Packages (781) 930.3199 JEWELS DAY SPA MEDICAL AESTHETICS 10% OFF (508) 672.1316 LAZER GATE 10% Off (508) 730.1230 MALLARD PRINTING 10% Discount (508) 675.5733
SHOPPING LOCALLY REALLY DOES MAKE A DIFFERENCE! MEGANET COMMUNICATIONS 10% Off, One Month Free (508) 646.0030 MF DEVINE AND SONS SEPTIC SERVICE 10% Off (508) 904.7847 devineseptic.com NETWORK CLEANING SERVICE, INC. 10% Off (401) 439.1383 NEXT MONITORING, INC. 1 Month Free (508) 379.6315 O’BRIEN PLUMBING & HEATING, CO. 10% Off (508) 679.3368
REMAX, DAWN RUSIN $500 Off Closing Costs or a Complimentary Moving Van (508) 677.3629 SALON ELEGANCE & SPA 10% Off any Spa Service/$20 Off First Facial (508) 642-9178 SECURED STAFFING We Will Beat Competitor’s Pricing (508) 567.5083 SENIOR FUNDING GROUP $500 Off Reverse Mortgage Closing Costs (508) 646.4351 Contact: Mike Kennedy SMOKIEZ, INC 10% Off (excludes cigarettes) (508) 672.1111 103 Swansea Mall Drive
PATTI’S PIEROGIES 10% Off, International Platter (508) 679.4001
SOMERSET CHRYSLER DODGE JEEP 10% Off Parts and Labor (508) 675.1106
PAWTUCKET RED SOX Buy 25 Flex Tickets & Save $25.00 (401) 724.7300
SOMERSET DECORATING 10% Off (508) 674.8596
PAYROLL EXPRESS We Will Beat Competitor Pricing (508) 679.1858
STRIVE GYMNASTICS & FITNESS, LLC 10% Off (508) 567.3830
PERFORMANCE AUTO CENTER 10% Off (508) 675.4777 PURE HEADSPA 20% Off First-Time Client (774) 526.7293 RADIO VOZ DO EMIGRANTE 15% Off (508) 207.8382
SULLIVAN TIRE & AUTO Full Service Regular Oil Change $19.95 (508) 674.4068 SPINDLE CITY AUTO GLASS 10% Off Any Service (May not be combined with other offers) (508) 677.3063
TOWN CAR TRAVEL LIMOUSINE 10% Off (508) 379.9088 THINKTECH COMPUTER Free 27- Point Network Audit (508) 992.2541 TIPSY TOBOGGAN 10% Discount (508) 944.3728 TRANSANALYSIS, INC. First Month Free (508) 646.1000 UPLAND ARCHITECTS 10% Off Services (774) 430.3390 VENUS NAILS AND SPA, LLC 10% Off on all services (508) 456.2222 FUN 107/ WBSM 25% Off Advertising for New Clients Townsquare Media (508) 999.6690 WICKED KICKIN CHEESECAKES 10 % Off (774) 309.3133 WSAR 1480 AM 25% Off Advertising for New Clients Only (508) 678.9727
Would you like to see YOUR business listed here? For additional information please contact: (508) 676-8226
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