Housing Secretary Joins Unibank to Lead Community Development Lending

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  Published in Politics and Government on Thursday, February 19th 2026 at 14:20 GMT by Telegram
      Locale: UNITED STATES

WORCESTER, MA - February 19th, 2026 - Edward Augustus, the outgoing Massachusetts Housing Secretary, is making a significant transition from public service to the private sector, joining Unibank, a prominent regional financial institution, as Senior Vice President and head of community development lending. The announcement, made by Unibank today, signals a strategic move for both Augustus and the bank, aligning with growing state and national initiatives focused on equitable community investment and affordable housing.

Augustus' departure from the Baker administration, anticipated as the governor nears the end of her term, marks the end of a distinguished career in public service. He previously served as the City Manager of Worcester, gaining valuable experience in local governance and urban development. As Housing Secretary, Augustus was instrumental in overseeing the Commonwealth's housing initiatives, including crucial affordable housing developments and programs specifically designed to address the pervasive issue of homelessness. His work has been lauded by advocates and officials alike, contributing significantly to the state's efforts to alleviate the housing crisis.

Marcel Dumont, President and CEO of Unibank, enthusiastically welcomed Augustus to the team. "We are thrilled to welcome Ed to Unibank," Dumont stated. "His deep understanding of housing challenges and his proven track record of driving solutions make him the ideal leader to expand our community development lending efforts." This underscores Unibank's commitment to expanding its reach and impact within the community development financial institution (CDFI) space. CDFIs play a vital role in providing capital to underserved communities and supporting projects that traditional banks often overlook.

Augustus himself expressed excitement about the new role, highlighting Unibank's existing dedication to community investment. "I've long admired Unibank's dedication to supporting underserved communities," Augustus said. "I look forward to working with the team to amplify those efforts and help build a more equitable and prosperous Massachusetts." This suggests Augustus intends to leverage his policy experience and understanding of systemic challenges to enhance Unibank's existing programs and develop innovative financial solutions.

Expanding Community Development Lending: A Growing Trend

The move reflects a broader trend within the financial sector: a growing emphasis on Environmental, Social, and Governance (ESG) factors and a recognition of the importance of investing in communities. Community development lending, in particular, has seen a surge in interest in recent years, driven by increased awareness of social inequalities and the need for inclusive economic growth. Banks like Unibank are increasingly recognizing that supporting local communities is not only socially responsible but also good for business.

This shift is also fueled by federal and state policies designed to incentivize community development lending. Programs like the New Markets Tax Credit and Low-Income Housing Tax Credit have spurred significant investment in distressed communities, creating jobs and revitalizing neighborhoods. Augustus' experience navigating these complex funding mechanisms will be invaluable to Unibank as it seeks to expand its lending portfolio.

Unibank's Regional Focus and Future Growth

Headquartered in Worcester, Unibank boasts a strong presence throughout Massachusetts and Connecticut, focusing specifically on serving small businesses and community organizations. This regional focus distinguishes Unibank from larger national banks and allows it to develop a deep understanding of the unique needs of the communities it serves. Augustus' appointment is expected to further strengthen this commitment, enabling Unibank to provide more targeted and effective financial assistance.

Experts predict that under Augustus' leadership, Unibank will likely increase its investment in key areas such as affordable housing, small business development, and community facilities. This could involve expanding loan programs, offering technical assistance to borrowers, and forging partnerships with local non-profit organizations. The bank's success in these endeavors will not only benefit the communities it serves but also contribute to the overall economic health of Massachusetts and Connecticut.

Furthermore, Augustus' intimate knowledge of the Massachusetts housing landscape, gained through years of public service, positions Unibank to proactively address emerging challenges and capitalize on new opportunities in the rapidly evolving housing market. This expertise will be critical as the state continues to grapple with issues like rising housing costs, limited inventory, and the need for more inclusive zoning policies.