Chelsea Groton's Rich Balestracci Named New Leader in Banking

Rich Balestracci, VP, Commercial Loan Officer, was recently selected as a New Leader in Banking by the Connecticut Bankers Association (CBA) and American Business Media. This honor is awarded to up-and-coming professionals from across Connecticut. The 13 recipients are considered to be outstanding employees who have made a notable impact in their bank and their community, beyond their job description.
“Rich values his relationships with business owners and community members. He is a hard worker and a leader who is always trying to figure out how we can help a certain business get their start, or ways we can support a business as they grow,” said Michael Rauh, President and CEO of Chelsea Groton Bank. “Rich embodies the Bank’s philosophy of doing all we can to help customers achieve their goals in big and small ways, and he encourages his colleagues to do the same. This honor is well-deserved.”
An active member of the community, Rich is the Treasurer of the Stonington Community Center, a member of the Stonington Economic Development Commission, and a Loan Committee Member for the Southeastern Connecticut Enterprise Region (SECTER). Rich is also a coach with the Pawcatuck Little League.
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. He completed the Chamber of Commerce of Eastern Connecticut Leadership Program, and is a recent graduate of the American Bankers Association’s Stonier Graduate School of Banking at the University of Pennsylvania.
Rich and his family reside in Pawcatuck, CT.
About Chelsea Groton Bank
Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1 billion in assets. Chelsea Groton Bank’s products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education classes. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit Member FDIC. Equal Housing Lender.