MANCHESTER, NH – Manchester Development Corporation (MDC) at its March 9 annual meeting named Don St. Germain Chairman of the Board of Directors. St. Germain, Executive Vice President and Chief Lending Officer at St. Mary’s Bank, joined the MDC Board in 2015.
MDC, a non-profit that supports the economic development initiatives of the City of Manchester, exists to facilitate the highest and best use of the City’s assets for the benefit of all citizens.
“Over the past several years, MDC has taken a very pro-active role in support of the business community in the City of Manchester,” St. Germain said. “I look forward to leading the Board’s shared passion for our city and building upon MDC’s progress in revitalizing Manchester’s landscape.”
MDC provides advocacy, support, and financing for a variety of projects in the City of Manchester. Projects include SNHU Arena; the purchase and subsequent sale of what is now known as Manchester Place; rehabilitation of the Chase Block, Dunlap Building, and McQuades Building; and expansion of Benefit Strategies on Elm Street. MDC financing played a critical role in the development of the Hilton Garden Inn and transition of the Clarion Hotel into La Quinta Inn and Suites. MDC provides numerous loans to local businesses through its revolving loan fund.
About St. Mary’s Bank
Founded in Manchester, New Hampshire, in 1908, St. Mary’s Bank is the first credit union in the nation. It makes progressive financial products and services available and affordable to consumers and businesses. Members enjoy excellent service, competitive rates, low fees, and state-of-the-art banking services. Headquartered in Manchester, New Hampshire, St. Mary’s Bank has locations in Manchester, Hudson, Londonderry, Milford, and Nashua, with mortgage centers in Concord, Nashua, and Portsmouth. For more information, call 1-888-786-2791 or visit www.stmarysbank.com.
