Page 12 - BusinessWest January 6, 2025

2025 Snapshots
Timm Marini, President of Personal Lines Insurance, HUB International New England
In today’s dynamic land- scape, where geopolitical risk, climate change, rising healthcare costs, and the rapid advancement of AI are reshaping industries, our cli- ents face constant challeng- es. The speed of change is dizzying, but those who embrace new approaches
and solutions will improve their profitability, work- place vitality, and resilience.
To prepare for the upcoming year, HUB surveyed 900 business leaders across the U.S. and Canada.
The overall sentiment for 2025 is predominantly positive. Among the key insights from the HUB 2025 Outlook Executive Survey:
• Siloed teams put businesses at risk. Organiza- tions with integrated risk management and benefits best practices are better equipped to achieve sus- tained profitability, workforce vitality, and resiliency.
• While risk and disruption will continue, success- ful business leaders are making constant shifts to navigate an increasingly complex world. With the right partners and analytic insights, they can gain an edge and remain resilient amid unforeseen disruption.
Mary McGovern, President and Chief Operating Officer, Country Bank
While some challenges likely in 2025 are reminiscent of those faced in 2024, it’s important to note that Coun- try Bank has shown remark- able resilience. While a con- siderable expense, the con- tinued escalation of fraud is being effectively managed, both in actual dollars lost
and in the cost of fraud-prevention systems.
Another challenge on the horizon is the uncertain- ty a new presidential administration brings regarding
regulation. Even if there is a reduction in oversight, the bank’s risk and compliance divisions are well-pre- pared to adapt to any rule changes to ensure they are being adhered to.
The evolving interest-rate environment is a chal- lenge in managing the balance sheet and projecting levels for the upcoming year. Many banks’ margins were squeezed when short-term rates remained high, but this pressure eased somewhat after the Fed cut rates by 75 basis points in 2024.
Country Bank is focused on expansion in Western and Central Mass. in 2025, with strategic positioning in key markets. As we celebrate our 175th anniversa- ry in the new year, the bank has never been stronger.
Joel Mollison, President, Northeast IT
As we look ahead to 2025, we anticipate a remarkably busy year as we continue to collaborate with our custom- ers to execute the timely replacement of thousands of computers and software packages ahead of the end of Windows 10 support deadline in October.
Our management team predicts continuous uptick in demand for improved cybersecurity posture, com- pliance services, and business continuity across all sectors as threats and compliance become more sophisticated. Grant funding will continue to push these objectives in the municipal sector.
Generative AI technologies will continue to be on horizon as many of our customers seek to utilize the capabilities of these technologies for data collec- tion, analytics, automation, and specialized content creation. The feasibility and adoption rate of these technologies by smaller organizations is still widely unknown.
There’s Banking, and There’s Better
• Commercial Real Estate Loans • SBA and Term Loans
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Visit us at Freedom.coop or call today (800) 821-0160.
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JANUARY 6, 2025 << OUTLOOK 2025 >> BusinessWest
Freedom Credit Union is federally insured by the National Credit Union Administration (NCUA). Shares and deposits in excess of NCUA limits are fully insured by the Massachusetts Credit Union Share Insurance Corporation (MSIC). Equal housing lender. NMLS #478769.