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Stoneham Savings Bank

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Stoneham Savings Bank

History:

Stoneham Savings Bank was established by the Massachusetts Legislature and was incorporated on March 28, 1855. Today, Stoneham Savings Bank is an independent, community bank, offering a solid lineup of personal and business banking products and services. We also offer auto, home and business insurance through our wholly owned subsidiary, New England Heritage Insurance Agency Group, Inc. Investments are offered through Infinex Financial Group located at the Bank's main office.

The More Things Change…The More They Stay the Same

Back in the day, the community banking concept was simple i.e., accept deposits from neighbors (depositors) for safe keeping and lend some of those deposits to other neighbors (borrowers) to finance their dreams. Depositors earned interest on funds held; while borrowers paid interest on funds loaned. Community banks made their money on the difference between the two groups. Plus, the community bankers helped those in need with donations of time and money. This simple concept of borrowing locally, lending locally and giving locally remains a big part of who Stoneham Savings Bank is today.

Continuing to Do the Right Thing

Our commitment to community has only strengthened over the years - while employees continue to volunteer their personal time to worthy causes, the Bank continues to donate to local charities and community based organizations. The recent formation of the Stoneham Savings Bank Charitable Foundation further demonstrates our seriousness with which we accept and uphold the role of community partner.

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