AUGUSTA — The Maine Connectivity Authority, a quasi-governmental agency tasked with ensuring universal access to affordable broadband in the state, has officially named David Wedick its new chief financial officer. A highly qualified professional with nearly two decades of experience in diversified financial markets and economic development, Wedick will oversee the strategic and day-to-day aspects of MCA’s financial management. He will step into the role of chief financial officer on March 21, according to a press release from the agency.
Since 2015, Wedick has served as Chief Financial Officer at Coastal Enterprises Inc., a leading Maine-based nonprofit focused on community development. Under his leadership, CEI has enjoyed strong financial and balance sheet success in recent years, with total, net and unrestricted net assets all experiencing robust growth.
In his new role at MCA, Wedick will leverage his experience at the IRC for the overall planning, direction and coordination of financial activities at MCA. His nonprofit background also lends itself to making a positive contribution in the communities of Maine, where he has called home for eleven years.
“I look forward to making a positive impact in urban, suburban and rural communities in Maine, a state in desperate need of universal broadband access,” Wedick said. “I’ve called Maine home for years, so I know many Maine residents are in desperate need of high-speed connectivity. With my financial expertise, it will be an absolute honor and privilege to serve our state and lead our people to a better, more connected future.
“We couldn’t be happier to have David on board at MCA,” said MCA Chairman Andrew Butcher. “He brings decades of unique financial management experience to the table, and he will play a pivotal role in expanding universal broadband access in Maine. Together, with talented people like David, we can make it happen from here.
Mainebiz heads to Damariscotta on March 23
PORTLAND — Mainebiz is bringing back its “On the Road with Mainebiz” party series and heading to Damariscotta on its second stop of the year. Throughout 2022, Mainebiz will celebrate with its readers, advertisers and partners as they make four stops in Maine during the On the Road Reception Series.
Mainebiz will host Damariscotta’s large business community from 4-6 p.m. Wednesday, March 23 at the Damariscotta River Grill. The event will bring together business leaders from the region, as well as Mainebiz staff members for an evening of networking. Guests will enjoy free appetizers and a cash bar. This event is free but seating is limited, so guests should pre-register at mainebiz.biz/OTRDS22.
The goal of these events is for all attendees, Mainebiz staff and editorial team to learn more about the area and help shine a light on the town/village being visited. These functions are also held to create opportunities for business leaders to do business and provide a place to meet and mingle with other members of the local business community.
The 2022 On the Road with Mainebiz in Damariscotta is sponsored by Eaton Peabody, First National Bank and Tidewater Telecom. Mainebiz has two more “On the Road” events scheduled this year in Machias and Dover-Foxcroft. For more information, visit mainebiz.biz.
Maine State Credit Union names Stephen Wallace its new CEO
AUGUSTA — After a nationwide search, the Maine State Credit Union’s board of directors voted unanimously to appoint Stephen Wallace, a Maine native and current executive vice president, as the new president and chief of management. He will replace current chairman and chief executive Tucker Cole, who will retire on June 1, according to a press release from the credit union.
Wallace joined Maine State Credit Union in 2017 as vice president of loans. He was promoted to senior vice president of retail in 2020 and became executive vice president in 2021. Wallace began his career in financial services at Fleet Bank and worked at Camden National Bank as head of retail bank, overseeing their branch network. Prior to joining Maine State Credit Union, Wallace worked as a consultant helping community banks and credit unions develop a customer-centric sales model.
“Steve exemplifies Maine State Credit Union,” said board chairman George Lapointe. “He lives the mission of the credit union every day and fosters a culture of learning and development that serves our members. He has a big vision for the future of the credit union and understands the importance of providing digital banking tools and human interaction is the key to continued growth.
Cole has devoted most of his career to the credit union movement. He started working in the industry at Evergreen Credit Union and joined Maine State Credit Union in 2016 as President and CEO. Cole also served one term as Chairman of the Maine Credit Union League Board of Directors.
During his tenure at Maine State Credit Union, Cole led the organization’s digital transformation, created a business division and expanded its membership to include Cumberland, Androscoggin and Sagadahoc counties.
“Maine State Credit Union employees are fortunate to have a great person and leader as the new president and CEO of Maine State Credit Union,” said Cole. “Stephen is someone who believes in the importance of a great corporate culture. I know I’m leaving the credit union in the best possible hands.
Erin Guay joins Hart Consulting
GARDINER — Hart Consulting Inc. announced that Erin Guay has joined the firm as a senior valuation consultant.
Guay has 20 years of experience in the field of public health in various capacities. Most recently, she served as Executive Director of Healthy Androscoggin, a community health coalition serving Androscoggin County, where she led a team of 14 employees to identify and address public health issues including tobacco abuse and substances, healthy eating, active living and childhood lead poisoning. , as well as positively influencing root causes such as housing, food insecurity, transportation and other social determinants of health, according to a company press release.
In addition to Guay’s experience in community needs assessments, grant writing, and project management, she brings research experience from a multi-year study on the effects of naturally occurring arsenic in water. Maine Child Health Household Well Study in collaboration with the Maine Center for Disease Control & Prevention and the United States Centers for Disease Control & Prevention. She holds a master’s degree in public health from the University of Michigan, a bachelor’s degree from Bowdoin College, and is a graduate of the Daniel Hanley Center for Health Leadership’s Health Leadership Development Institute.
“We are delighted to have Erin join the firm, her skills and experience will greatly expand the services we can provide to our clients,” said Patricia Hart, Principal Consultant.
For more business news, visit CentralMaine.com.
New mini-grants competition aims to help Maine microbusinesses reach customers