Mascoma Mutual Financial Services
Mascoma Mutual Financial Services is the parent of Mascoma Bank, a Certified B Corporation mutual savings bank founded in 1899, serving individuals, businesses, and nonprofits across New Hampshire and Vermont with personal banking, business banking, wealth management, digital banking, and New Markets Tax Credit community development financing.
- Company typePrivate
- Founded1996
- HeadquartersWhite River Junction, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Mascoma Mutual Financial Services does
Mascoma Mutual Financial Services is the privately held parent company of Mascoma Bank, a New Hampshire-chartered mutual savings bank founded in 1899 and headquartered in Lebanon, New Hampshire, serving communities across Northern New England (New Hampshire and Vermont). The company operates as a Certified B Corporation and BankOn-certified institution with 251-500 employees, generating revenue through four primary streams: traditional interest income from first mortgages (236 issued in 2024), auto loans, and business loans; fee income from personal and business deposit accounts and electronic banking; recurring wealth management advisory fees; and community development income from New Markets Tax Credit allocations administered through its wholly owned subsidiary Mascoma Community Development, LLC, which has secured $395 million in cumulative NMTC awards since 2014.
The bank's core products span Personal Banking (deposit accounts, mortgages, auto and personal loans), Business Banking (deposits and loans), Wealth Management, and Digital Banking. The digital platform, implemented in October 2025, is powered by Alkami Technology and includes onboarding, digital banking, and data marketing capabilities, with Plaid integration for secure identity verification during account opening. Distribution combines physical branches across Northern New England, ATMs, phone banking (888-MASCOMA), and the new Alkami-powered online and mobile channels.
Mascoma's business model is relationship-driven and community-anchored rather than investor-return driven; the mutual structure means there are no outside shareholders, and the bank commits 10.06% of budgeted pre-tax income to philanthropy annually. In May 2026, Mascoma Bank announced plans to combine its parent with Androscoggin Bank to form a multi-bank mutual holding company, representing a significant regional consolidation. The bank's competitive positioning rests on its 127-year operating history, B Corp and BankOn certifications, deep nonprofit and community development ecosystem, and now a modernized digital platform layered over a traditional community bank distribution model.
Mascoma Mutual Financial Services firmographics
Firmographics- Name
- Mascoma Mutual Financial Services
- Legal name
- Mascoma Bank
- Website
- https://www.mascomabank.com/
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Mascoma Mutual Financial Services is the parent of Mascoma Bank, a Certified B Corporation mutual savings bank founded in 1899, serving individuals, businesses, and nonprofits across New Hampshire and Vermont with personal banking, business banking, wealth management, digital banking, and New Markets Tax Credit community development financing.
- Ownership category
- akta.pro rank
Mascoma Mutual Financial Services industry classification
Industry- Product category
- Community Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)
- SIC
- Savings Institution, Federally Chartered (6035), Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)
Keywords
Where Mascoma Mutual Financial Services is headquartered
LocationHeadquarters
- HQ city
- White River Junction
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Mascoma Mutual Financial Services business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Interest Income - Mortgages & Loans: Traditional bank interest income from issuing first mortgages, auto loans, personal loans, and business loans to individuals and businesses in New Hampshire and Vermont.
- Deposit Account Fees & Services: Fee income from personal and business deposit accounts, electronic banking services, and checking accounts.
- Wealth Management: Financial advisory and investment management services generating recurring fee income.
- Community Development / New Markets Tax Credits: Community development subsidiary (Mascoma Community Development) awarded New Markets Tax Credits to support community projects, generating income through NMTC allocations and program fees.
Distribution channels5 records
Marketing channels4 records
Mascoma Mutual Financial Services product offering
Product offeringCore offering
Mascoma Mutual Financial Services, through its subsidiary Mascoma Bank, is a community-focused mutual savings bank serving individuals and businesses in New Hampshire and Vermont. Core offerings include Personal Banking (deposit accounts, checking, savings, mortgages, auto loans, personal loans), Business Banking (business deposit accounts and business loans), Wealth Management (financial planning and investment advisory), and community development financing through its wholly owned subsidiary Mascoma Community Development, which administers New Markets Tax Credit allocations. Services are delivered via physical branch locations and an Alkami-powered digital banking platform with Plaid-based account verification.
Product overview
Mascoma Bank operates as a traditional community bank offering a unified suite of banking products and services through both physical branch locations and digital channels. The core offerings include Personal Banking (deposit accounts, checking, mortgages, and personal loans), Business Banking (business deposits and loans), and Wealth Management services. The bank recently enhanced its digital capabilities by implementing Alkami Technology's digital sales and service platform, which provides onboarding, digital banking, and data marketing solutions. Additional services include Mascoma Community Development (New Markets Tax Credits), Mascoma Experiences (customer engagement), Financial Wellness education, and Fraud Prevention resources.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Banking
Quantifiable outcome
- 236 first mortgages issued in 2024 to families and individuals
- +6 more outcomes
Companies that use Mascoma Mutual Financial Services
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
Mascoma Mutual Financial Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature2 records
Mascoma Mutual Financial Services partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered flagship, core and minor.
- Androscoggin BankflagshipMascoma Bank and Androscoggin Bank announced plans to combine their parent companies into a single mutual holding company structure. This strategic combination would create a larger, more resilient community banking organization serving Northern New England while maintaining both banks' community-focused missions. Announcement made May 11, 2026.
- Southern Minnesota Beet Sugar CooperativeflagshipMascoma Community Development awarded $15 million in New Market Tax Credits to Southern Minnesota Beet Sugar Cooperative to support facility expansion and equipment upgrades for two locations.
- Cimolai-HYflagshipMascoma Community Development announced the successful closing of $16 million in New Market Tax Credit allocation to Cimolai-HY for acquisition and installation of equipment and a workforce training program in Olean, NY.
- Alkami TechnologycoreMascoma Bank implemented Alkami Technology's full digital sales and service platform including onboarding, digital banking, and data marketing solutions. The platform enables personalized, real-time insights and proactive customer interactions, advancing Mascoma's digital banking strategy.
- PlaidcorePlaid is used during the Mascoma Bank account application process to securely verify customer information by establishing a secure connection with the customer's current bank. Plaid handles authentication and data transmission securely.
- Lucy Mackenzie Humane SocietyminorMascoma Bank supports the Lucy Mackenzie Humane Society, serving animals in West Windsor, Vermont for 110 years, as part of community giving initiatives.
- MoonRise TherapeuticsminorMascoma Bank supports MoonRise Therapeutics, a mental health and equine therapy organization founded in 2017 in Woodstock, Vermont.
- Southeastern Vermont Community Action (SEVCA)minorMascoma Bank supports SEVCA, a poverty support organization founded in 1965 serving southeastern Vermont communities.
- The Center for New BeginningsminorMascoma Bank supports The Center for New Beginnings, a psychotherapy provider founded in 1985 in Littleton, NH providing mental health services.
- Everybody Wins! VermontminorMascoma Bank supports Everybody Wins! Vermont, a children's literacy organization celebrating its 25th anniversary in 2025.
- Big Brothers Big Sisters of Southern MaineminorMascoma Bank supports Big Brothers Big Sisters of Southern Maine, a mentorship nonprofit founded in 1995 providing mentorship to children in Southern Maine.
Scale indicators10 records
Recent moves6 records
Expansion highlights5 records
Mascoma Mutual Financial Services competitors and assessment
Company assessmentBroad incumbents
- Camden National Corporation: Maine-based community banking franchise with consumer, business, and wealth management across Northern New England. Comparable regional peer at larger scale with similar community-bank orientation.
- Tompkins Financial Corporation: Upstate New York regional bank holding company with community banking, wealth, and insurance. Comparable multi-line regional community bank with similar mix of consumer and business lending.
- Beneficial State Bank: West Coast Certified B Corporation and CDFI-designated community development bank. Comparable as a mission-driven, B-Corp certified community bank with social and environmental focus, though operating in a different geography.
- Brookline Bancorp: Multi-bank community banking franchise in the Northeast. Comparable as a regionally diversified community/commercial bank with deposit gathering and lending across similar customer segments.
- Amalgamated Bank: Publicly traded Certified B Corporation bank with a mission-driven, values-aligned franchise. Comparable ESG/community positioning and full-service consumer and commercial banking model.
- Bar Harbor Bankshares: Parent of Bar Harbor Bank & Trust, a Northern New England community bank with full-service consumer, business, and wealth offerings. Comparable regional banking model at somewhat larger scale.
Direct peers
- Passumpsic Savings Bank: Vermont-based mutual savings bank serving Northern New England communities with consumer, mortgage, and business banking. Directly comparable regional mutual-bank peer within Mascoma's home geography.
- Northfield Savings Bank: Vermont community bank offering personal, business, and mortgage banking with a strong community-mission orientation. Closely comparable regional peer with similar mutual/community positioning.
- Androscoggin Bank: Maine-based mutual savings bank and announced merger partner for a multi-bank mutual holding company with Mascoma Bank. Closest direct peer given identical mutual structure, community-bank focus, and Northern New England footprint.
- Ledyard Financial Group: New Hampshire-based mutual holding company operating Ledyard Bank and Lake Sunapee Bank. Directly comparable as a New Hampshire mutual community bank with personal, business, and wealth management lines.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Mascoma Mutual Financial Services social profiles
Digital presenceMascoma Mutual Financial Services compliance and trust
Trust signalCompliance4 records
Mascoma Mutual Financial Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mascoma Mutual Financial Services leadership team
Management profileNumber of profiles
Mascoma Mutual Financial Services subsidiaries and ownership
Company hierarchySubsidiaries1 record
Mascoma Mutual Financial Services funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mascoma Mutual Financial Services M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mascoma Mutual Financial Services
What does Mascoma Mutual Financial Services do?
Mascoma Mutual Financial Services, through its subsidiary Mascoma Bank, is a community-focused mutual savings bank serving individuals and businesses in New Hampshire and Vermont. Core offerings include Personal Banking (deposit accounts, checking, savings, mortgages, auto loans, personal loans), Business Banking (business deposit accounts and business loans), Wealth Management (financial planning and investment advisory), and community development financing through its wholly owned subsidiary Mascoma Community Development, which administers New Markets Tax Credit allocations. Services are delivered via physical branch locations and an Alkami-powered digital banking platform with Plaid-based account verification.
Is Mascoma Mutual Financial Services a public or private company?
Mascoma Mutual Financial Services is a private company. It is classified as management employee owned and is currently operating.
When was Mascoma Mutual Financial Services founded?
Mascoma Mutual Financial Services was founded in 1996. It employs 251 to 500 people.
Where is Mascoma Mutual Financial Services based?
Mascoma Mutual Financial Services is headquartered in White River Junction, United States, in the North America region.
How does Mascoma Mutual Financial Services make money?
Four revenue lines are on record. Interest Income - Mortgages & Loans are the primary driver. The others are deposit Account Fees & Services, wealth Management and community Development / New Markets Tax Credits.
Who are Mascoma Mutual Financial Services's main competitors?
Broad incumbents on record are Camden National Corporation, Tompkins Financial Corporation, Beneficial State Bank, Brookline Bancorp, Amalgamated Bank and Bar Harbor Bankshares. Direct peers are Passumpsic Savings Bank, Northfield Savings Bank, Androscoggin Bank and Ledyard Financial Group.
Does Mascoma Mutual Financial Services have an API?
No public API is recorded for Mascoma Mutual Financial Services.
What industry is Mascoma Mutual Financial Services in?
Mascoma Mutual Financial Services's product category is Community Banking. Its primary akta.pro industry code is FSABAEAL, Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops). Its NAICS code is 522180 and its SIC code is 6035.