Chelsea Groton Bank's Balestracci, Carlson Named to Southeastern CT 40 Under Forty

Groton, CT – Chelsea Groton Bank’s Richard Balestracci and Rachel Carlson were named winners of Southeastern Connecticut’s 4th Annual 40 Under Forty Award. Nominated by peers and selected by the Greater Mystic, Ocean Community and the Greater Norwich Area Chambers of Commerce, and The Day, the winners are individuals under 40 years of age who have demonstrated excellence in their profession as well as leadership, commitment and service to the region.
“Both Rich and Rachel are incredibly deserving of winning the 40 Under Forty Award, which recognizes leaders in the workplace and the community,” said Michael Rauh, President and CEO of Chelsea Groton Bank. “They have both demonstrated passion and professionalism in their jobs, and are committed to continuing to hone their skill sets through continual education, leadership activities, and supporting endeavours in the local community. We are proud of their accomplishments, and to have them as integral members of the Chelsea team.”
Richard Balestracci
Richard Balestracci, Assistant Treasurer, Portfolio Manager/ Commercial Loan Officer, is responsible for fostering the Bank’s existing commercial client relationships while working closely with the Bank’s business line partners to develop new relationships within the community. He works with the local community through his role in commercial lending and as a volunteer member of the Stonington Economic Development Commission. Both roles allow Rich to pursue his passion for helping local business owners find creative solutions for overcoming the many challenges they face each day.
Prior to his current role, Rich worked in branch management and middle market commercial and industrial lending. He earned a bachelor’s degree in economics from the University of Connecticut in 2007 and a MBA for emerging leaders from the University of New Haven in 2013. He is also a 2012 graduate of the Chamber of Commerce of Eastern Connecticut Leadership Program and former President/ Member of the Stonington chapter of Business Network International (BNI). He and his family reside in Stonington, CT.
Rachel Carlson
Rachel Carlson (NMLS #646284), Assistant Secretary, Retail Lending Operations Administrator, is responsible for managing the retail loan processing team, and the loan origination system the Bank uses for mortgage and consumer loan processing.  She takes pride in working for a Bank that offers a number of programs to help the first time homebuyer community achieve their dream of homeownership.
Prior to her current role, Rachel worked in Chelsea Groton Bank’s Loan Servicing and Loan Processing departments. Rachel graduated with honors from the Connecticut School of Finance and Management in 2009, and completed the Chamber of Commerce of Eastern Connecticut’s Leadership Program in 2014. She is currently enrolled at the Mortgage Bankers Association’s School of Mortgage Banking. Rachel and her husband reside in Preston, CT.

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About Chelsea Groton Bank
Based in Groton, Conn., Chelsea Groton Bank is a mutually owned bank with 14 locations throughout New London County and a Loan Production Office in Hartford County. The Bank has over $989 million in assets and serves businesses, individuals and families throughout Connecticut and Rhode Island. To learn more, please visit Member FDIC. Equal Housing Lender.