Exhibit 13

(GRAPHIC) United Financial Bancorp, Inc.2005 Annual
Report


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|                      
|----------------------
|FINANCIAL
  HIGHLIGHTS
|                      

The following table sets
forth certain consolidated summary historical financial information concerning
the financial position of United Financial Bancorp, Inc. It should be read in
conjunction with the consolidated financial statements and related notes.

Selected Financial HighlightsDollars
in thousands, except per share data

|                                     |  |                                          |         |      |   |         |  
|------------------------------------ |  | ---------------------------------------- | ------- | ---- | - | ------- | -
|                                     |  |                                          |        
|                                     |  | At or for 
  The Year Ended December 31, |        
|                                     |  | 2005                                     |         | 2004 |  
|                                     |  |                                          |         |      |  
|Select
  Operating Data              |  |                                          |         |      |   |         |  
|Net interest
income                  |  | $                                        | 27,027  |      | $ | 24,384  |  
|Provision for
loan losses            |  |                                          | 917     |      |   | 983     |  
|Total non
interest income            |  |                                          | 5,360   |      |   | 5,134   |  
|Total non
interest expense           |  |                                          | 24,452  |      |   | 19,179  |  
|Net
income*                          |  |                                          | 4,369   |      |   | 5,528   |  
|                                     |  |                                          |         |      |   |         |  
|Select
  Financial Data              |  |                                          |         |      |   |         |  
|Total
assets                         |  | $                                        | 906,513 |      | $ | 772,008 |  
|Loans,
net                           |  |                                          | 630,558 |      |   | 569,243 |  
|Deposits                             |  |                                          | 653,611 |      |   | 613,672 |  
|Federal Home
Loan Bank advances      |  |                                          | 101,880 |      |   | 86,694  |  
|Total
stockholders equity           |  |                                          | 137,005 |      |   | 62,255  |  
|                                     |  |                                          |         |      |   |         |  
|Performance
  Ratios                 |  |                                          |         |      |   |         |  
|Return on
average assets*            |  |                                          | 0.51    | %    |   | 0.73    | %
|Return on
average equity*            |  |                                          | 4.45    | %    |   | 9.25    | %
|Interest rate
spread                 |  |                                          | 2.77    | %    |   | 3.03    | %
|Net interest
margin                  |  |                                          | 3.27    | %    |   | 3.33    | %
|Efficiency
ratio*                    |  |                                          | 75.50   | %    |   | 64.97   | %
|                                     |  |                                          |         |      |   |         |  
|Per Share
  Data                     |  |                                          |         |      |   |         |  
|Basic and
diluted earnings per share |  | $                                        | nm      |      |   | n/a     |  
|Market price
at period end           |  | $                                        | 11.53   |      |   | n/a     |  

|  |                                                                                                                                                                                                                                                                                                                                                            
|- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|* | Excluding the effect of a $3.6 million charitable
contribution ($2.2 million after taxes) to fund the newly-formed charitable
foundation, net income in 2005 would have amounted to $6.6 million, or 19.0%
greater than 2004. Return on average assets, return on average equity, and
efficiency ratio would have been .76%, 6.70% and 64.41% respectively.

Members of United Banks senior management team visited the
NASDAQ MarketSite Tower located at 4 Times Square in New York City on Monday,
August 29, 2005. Richard B. Collins, President and Chief Executive Officer
presided over the NASDAQ closing bell ceremony.

(GRAPHIC)

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|                     
|---------------------
|PRESIDENTS
  MESSAGE
|                     

(PHOTO OF RICHARD B. COLLINS)

Dear Shareholders:

It is with great pleasure
that I share with you the successes of United Financial Bancorp, Inc. (UBNK)
and its subsidiary United Bank in this, our first, annual report as a public
company. 2005 was an eventful year filled with significant accomplishments,
record growth and the promise of more exciting times ahead.

We
completed our initial public offering in July, selling 7.7 million shares of
common stock (representing 44.6% of the stock issued) and raising $74.8
million. Our parent company, United Mutual Holding Company, owns 53.4% of our
stock and the remaining 2% was used to fund our newly formed charitable
foundation. Shares of UBNK stock began trading on the NASDAQ National Market on
July 13th, reaching a high of $11.90 before closing at $11.75, a nice return
for those investors who purchased our stock through the offering at $10 per
share. We are enthusiastic about being a public company and eager to begin
deploying the capital we raised to fuel our growth in the months and years
ahead.

Reflecting on Our Success

Total
assets grew to $906.5 million at December 31, 2005, an increase of 17.4% over
the previous year. Loan growth was strong, with increases of $40.4 million in
residential mortgages, $16.6 million in commercial loans and $6.6 million in
consumer loans. We recently added two experienced lenders to our commercial
lending team and we will continue to add staff as we work to grow the
commercial portion of our business. We also intend to maintain our position as
a premier mortgage and consumer lender in the markets we serve.

We
opened a record number of new core deposit accounts in 2005, capitalizing on
our superior line of free banking products and services and taking advantage of
consolidation in our marketplace to fuel increases in our deposit market share.
As of June 30, 2005 (the most recent FDIC data available), United Bank ranked
#3 out of the 18 banks doing business in Hampden County, with a deposit market
share of 10.24%, the largest market share of community banks operating in this
market. Total deposits grew to $653.6 million at year end, an increase of 6.5%.

Use
of our online banking products reached new highs last year. We now have more
than 11,000 PersonalBank customers, representing 35% of our consumer checking
account base, of which 53% are paying bills online. United Bank was the first
community bank in the market to introduce online banking in 1997 and our
commitment to this delivery channel proves to be both a convenient and
efficient extension of our traditional branch network. 28% of our business
checking customers are also banking online as the number of BusinessBank
customers recently surpassed 1,000, of which 29% are also using online bill
pay. Plans are in place to build on these successes, as we look to expand our
online presence and take advantage of advancements in Internet banking
technology.

Our Growing Franchise

We
introduced a number of product enhancements this year, all designed to provide
value to our customers and drive new traffic into our branches. We increased
the number of free items in our Free & Easy Business Checking Account to
500 per month and adjusted the tier structure in our Capital Growth Account
(available to both business and consumer customers), offering customers an
attractive rate of return and the flexibility of writing checks from a linked
checking account. These changes, together with our competitive pricing
structure, make our product line one of the most attractive in the area.

Recognizing
that convenience is an important factor in selecting a bank, we extended the
hours at all of our drive-up locations last fall. They are now open from 8 a.m.
to 7 p.m. on Thursdays and Fridays. We also relocated the West Springfield
drive-up to a newly constructed facility with two drive-up teller lanes and a
drive-up ATM. Throughout the year, our branch staff did an excellent job
providing the high level of personal service for which United Bank is known
throughout the region. This is evident in our ability to retain more than 90%
of our consumer checking accounts annually for the last seven years. We know
that service is a driving factor in customer retention and we will continue to
meet, and seek to exceed, customer expectations as we focus on growing our
franchise and increasing our market share.

Looking Ahead

As
we move into 2006, we will focus on the execution of our strategic plan and the
expansion of our branch network, starting with the opening of new, full-service
branches in Westfield and Northampton, Massachusetts. The Westfield branch, our
second in this market, will enable us to offer a convenient banking location in
an under-banked area of the city. Northampton, a new market for United Bank, is
just eight miles from our Holyoke branch and a natural extension of our current
footprint. We look forward to opening these offices in the fall of 2006 and
bringing our products, services and expertise to the residents and businesses
of these cities.

Expansion,
growth in deposits and loans, an increased emphasis on commercial lending,
enhancements in the Financial Services area and increasing shareholder value
will be the driving forces behind our actions in the year ahead. I look forward
to sharing our progress and success in these areas as they occur. On behalf of
the Board of Directors, I thank you for your continued interest in, and support
of, our company.

|                                       
|---------------------------------------
|Sincerely,                             
|                                       
|-s- Richard B. Collins                 
|Richard B. Collins                     
|President and Chief
  Executive Officer
|March 30, 2006                         

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|                   
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|BANKING
  LOCATIONS
|                   

CORPORATE HEADQUARTERS & OPERATIONS CENTER95
Elm Street  West Springfield, MA 01089 
Connecting all offices  413-787-1700

FINANCIAL SERVICES GROUP33
Westfield Street  West Springfield, MA 01089

FEEDING HILLSCommunity Plaza Shops 
1325 Springfield Street 
Feeding Hills, MA 01030

HOLYOKE1830 Northampton
Street 
Holyoke, MA 01040

ATM onlyHolyoke Mall at
Ingleside 
Across from Ruby Tuesday 
Holyoke, MA 01040

HUNTINGTON14 Russell Road 
Huntington, MA 01050

LONGMEADOWLongmeadow Shops
670 Bliss Road 
Longmeadow, MA 01106

LUDLOW528 Center Street 
Ludlow, MA 01056

SPRINGFIELD

Downtown Springfield115 State Street
Springfield, MA 01103

East Springfield1077 St. James Avenue 
Springfield, MA 01104

Indian Orchard459 Main Street 
Indian Orchard, MA 01151

Sixteen Acres1930 Wilbraham Road 
Springfield, MA 01129

ATM onlyRiverfront Visitor
Information Center 
1200 West Columbus Avenue 
Springfield, MA 01105

WESTFIELD10 Elm Street 
Westfield, MA 01085

WEST SPRINGFIELD95 Elm Street 
West Springfield, MA 01089

Drive-up only52 Van Deene
Avenue
West Springfield, MA 01089

ATMs at all offices.

Employees, directors and local officials participate in the
grand opening of United Banks new drive-up facility in West Springfield, MA.

(GRAPHIC)

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|                                
|--------------------------------
|UNITED
  FINANCIAL BANCORP, INC.
|                                
|BOARD OF
  DIRECTORS            

Robert W. Bozenhard Jr., Esq.Chairman of the Board
     Partner, Bozenhard, Socha & Ely

Richard B. CollinsPresident & Chief
Executive Officer, United Bank

Michael F. CrowleyPresident, Crowley
& Associates

Carol Moore CuttingPresident, Cutting
Edge Broadcasting, Incorporated

Donald G. HelliwellPresident, Westfield
Coatings Company (retired)

George W. JonesPresident, Eastern
States Exposition (retired)

EXECUTIVE OFFICERS

Richard B. CollinsPresident & Chief
Executive Officer

Donald F. X. LynchExecutive Vice
President, Chief Financial Officer & Corporate Secretary

Laurie J. RollinsTreasurer

Carol A. LearyPresident, Bay Path
College

G. Todd MarchantFinancial Advisor,
Grigsby and Smith (retired)

Kevin E. RossVice President &
Treasurer, Ross Insurance Agency, Inc.

Robert A. Stewart, Jr.Partner &
President, Chase, Clarke, Stewart & Fontana

Thomas H. Themistos, CPA/PFSA member of Kostin,
Ruffkess, Themistos & Dane, LLC

Michael F. WerenskiPresident &
Treasurer, Marion & Werenski Insurance & Real Estate Agency, Inc.

|                        
|------------------------
|UNITED BANK             
|                        
|SENIOR
  MANAGEMENT TEAM

Richard B. CollinsPresident & Chief
Executive Officer

Keith E. HarveyExecutive Vice
President, Retail Banking & Operations

Donald F. X. LynchExecutive Vice
President & Chief Financial Officer

J. Jeffrey SullivanExecutive Vice
President, Chief Lending Officer

Eileen R. CaseySenior Vice President
& Internal Auditor

William ClarkSenior Vice President,
Residential Lending

John J. PattersonSenior Vice President,
Risk Management

Deborah M. GeboVice President, Retail
Banking

Dena M. HallVice President,
Marketing & Community Relations

Miriam J. SiegelVice President, Human
Resources

Collections Officer Kathy Blair stands with Sarah Murphy,
winner of United Banks quarterly Service Excellence Award which recognizes
employees providing outstanding customer service.

(GRAPHIC)

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|                         
|-------------------------
|SHAREHOLDER
  INFORMATION
|                         

Company Profile

United Financial Bancorp,
Inc. is a publicly owned corporation and the holding company for United Bank, a
federally chartered bank. The Companys common stock is traded on the NASDAQ
National Market under the symbol UBNK. United Bank provides a full range of
financial products and services through its 11 branch offices located
throughout Western Massachusetts. Through its Financial Services Group, the
Bank offers access to a wide range of investment and insurance products and
services, as well as financial, estate and retirement strategies and products.
The Bank is committed to meeting all of its customers financial needs by
providing valuable products, competitive pricing and superior customer service.

Corporate Office95 Elm Street 
P.O. Box 9020
West Springfield, MA 01090-9020 
Phone: (413)-787-1700 
Fax: (413) 788-3313

Stock ListingUnited Financial
Bancorp, Inc. is
traded on the NASDAQ National
Market under the symbol UBNK.

Annual MeetingThe Annual Meeting of
Shareholders
of United Financial Bancorp, Inc.
will be held on Thursday, July 20,
2006 at 10:00 a.m. at the Springfield
Marriott, 2 Boland Way, Springfield,
Massachusetts 01115.

Investor InformationCopies of the annual
report, SEC 
filings, press releases and other 
investor information are available 
on the Banks website at 
www.bankatunited.com or by 
contacting Dena M. Hall, Vice 
President at (413) 787-1292 or 
dhall@bankatunited.com.

AuditorsGrant Thornton LLP 
226 Causeway Street 
Boston, MA 02114

Corporate CounselLuse Gorman Pomerenk
& Schick, P. C.
5335 Wisconsin Avenue, NW
Suite 400
Washington DC 20015-2035

Transfer AgentShareholders wishing
to change the 
name, address or ownership of stock or 
to report lost stock certificates should 
contact:
Registrar & Transfer Company 
10 Commerce Drive 
Cranford, NJ 07016 
800-368-5948

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(UNITED FINANCIAL BANCORP LOGO)

95 Elm Street  P.O. Box 9020 
West Springfield, MA 01090-9020 
(413) 787-1700  bankatunited.com

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