Mascoma Mutual Financial Services

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.

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

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

• Community banking services
• Personal banking loans
• Business banking deposits
• Wealth management advisory
• Community development financing

Headquarters

HQ city

White River Junction

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. 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.
2. Deposit Account Fees & Services: Fee income from personal and business deposit accounts, electronic banking services, and checking accounts.
3. Wealth Management: Financial advisory and investment management services generating recurring fee income.
4. 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

Core 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

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Partnerships

Eleven partnerships are on record, tiered flagship, core and minor.

• Androscoggin BankflagshipStrategic or Co-development Partner · 11 May 2026Mascoma 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 CooperativeflagshipStrategic or Co-development Partner · 6 January 2026Mascoma 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-HYflagshipStrategic or Co-development Partner · 28 October 2025Mascoma 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 TechnologycoreTechnology or Integration · 16 October 2025Mascoma 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.
• PlaidcoreTechnology or IntegrationPlaid 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 SocietyminorOthersMascoma Bank supports the Lucy Mackenzie Humane Society, serving animals in West Windsor, Vermont for 110 years, as part of community giving initiatives.
• MoonRise TherapeuticsminorOthersMascoma Bank supports MoonRise Therapeutics, a mental health and equine therapy organization founded in 2017 in Woodstock, Vermont.
• Southeastern Vermont Community Action (SEVCA)minorOthersMascoma Bank supports SEVCA, a poverty support organization founded in 1965 serving southeastern Vermont communities.
• The Center for New BeginningsminorOthersMascoma Bank supports The Center for New Beginnings, a psychotherapy provider founded in 1985 in Littleton, NH providing mental health services.
• Everybody Wins! VermontminorOthersMascoma Bank supports Everybody Wins! Vermont, a children's literacy organization celebrating its 25th anniversary in 2025.
• Big Brothers Big Sisters of Southern MaineminorOthersMascoma 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

Broad 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

• LinkedInlinkedin.com/company/mascoma-bank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&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