Monson Savings Bank

What Monson Savings Bank does

Monson Savings Bank is a mutual savings bank founded in 1872 and headquartered at 146 Main Street in Monson, Massachusetts. It is a private, depositor-owned cooperative institution with no external shareholders or public ticker, governed by a board elected from its depositor-members. The bank operates four full-service branches across Western Massachusetts (Monson headquarters, Hampden, Wilbraham, and East Longmeadow, with the East Longmeadow branch opened in 2020) supported by drive-up lanes, 24/7 telephone banking, and a digital channel stack built on standard third-party integrations including Kasasa, Zelle, CardHub, mobile wallet (Apple/Google/Samsung Pay), 256-bit SSL encryption, and remote check deposit. FDIC- and DIF-insured deposits sit alongside a comprehensive retail and small-business product set: consumer deposit accounts (MoneyMaking Checking, CashBack Checking, Student Checking, Free Checking, Fresh Start Checking), savings vehicles (MoneyMaking Savings, Statement Savings, Holiday Club, CDs, IRAs), residential and consumer lending (home mortgages, HELOCs, first-time homebuyer programs, Mass Save HEAT loans, credit builder, personal credit cards), and full small-business banking (business checking, commercial real estate loans, business lines of credit, equipment loans, SBA loans, municipal lending, business credit cards, ACH origination, Positive Pay, sweep accounts, lockbox, and merchant card services). Trust and investment services are delivered through core partnerships with Plimoth Trust Company and Osaic Institutions rather than internal build-out.

The bank's revenue model is conventional community-bank net interest income supplemented by transaction and service fees. Primary streams include interest earned on mortgage (residential and commercial), business, consumer, HELOC, and credit-card lending; deposit account fees (overdraft, wire transfer, account maintenance); mortgage origination fees from purchase and refinance activity; safe deposit box rental at Monson/Hampden/Wilbraham; and cash-management fees (merchant card services, remote check deposit, ACH origination, lockbox). The bank segments its customers horizontally across individual consumers, small and mid-sized businesses, government and municipalities, and first-time/underserved homebuyers, served through community-led go-to-market emphasizing local lenders, branch presence, and charitable activity rather than acquisition marketing. Deposit pricing is not publicly disclosed, and safe-deposit pricing varies by box size on an annual renewal basis. Income concentration is therefore tied to interest-rate environment and the local Western Massachusetts credit market rather than to any individual customer.

Name

Monson Savings Bank

Legal name

Monson Savings Bank

Website

https://monsonsavings.bank

Company type

Private

Founded year

1872

Operating status

Operating

Headcount range

51–100 employees

Short description

Monson Savings Bank is a mutual savings bank founded in 1872 in Monson, Massachusetts, serving individual consumers, small and mid-sized businesses, government entities, and first-time homebuyers across four Western Massachusetts branches through deposits, lending, digital banking, and partner-delivered trust and investment services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Community banking services
• Residential mortgage lending
• Commercial lending products
• Consumer deposit accounts
• Business cash management

Headquarters

HQ city

Monson

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on mortgage loans (residential and commercial), business loans, personal loans, HELOCs, and credit cards
2. Deposit Account Fees and Charges: Fees from checking and savings accounts including overdraft fees, wire transfer fees, and account maintenance charges
3. Mortgage Origination Fees: Fees collected from mortgage loan originations including home purchase loans and refinances
4. Safe Deposit Box Rental: Annual rental fees for safe deposit boxes at Monson, Hampden, and Wilbraham branches
5. Business Cash Management Services: Fees for merchant card services, remote check deposit, ACH origination, lockbox processing, and other business banking services

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Monson Savings Bank is a mutual community bank offering personal and business deposit accounts, consumer and commercial lending products, digital banking services, and cash management solutions. The bank serves individual consumers, small and mid-sized businesses, and municipal clients across Western Massachusetts through four physical branches complemented by online and mobile banking platforms.

Product overview

Monson Savings Bank offers a comprehensive community banking platform organized around personal and business banking products. The core offerings include checking and savings accounts (Kasasa-branded MoneyMaking Checking, CashBack Checking, Student Checking, Free Checking, Fresh Start Checking, MoneyMaking Savings, Statement Savings, Smart Start Savings, Holiday Club, CDs, IRAs), business accounts (Small Business Checking, Business Checking, Business Statement Savings), and lending products (Home Mortgages, HELOCs, First Time Homebuyer Programs, Mass Save HEAT Loan, Credit Builder, Commercial Real Estate Loans, Business Lines of Credit, Business Term Loans, Equipment Loans, SBA Loans, Municipal Lending, Personal/Business/Secured Credit Cards). Digital banking services include Online/Mobile Banking, Account Alerts, Mobile Wallet (Apple/Google/Samsung Pay), Zelle® peer-to-peer payments, CardHub card management, Remote Check Deposit, ACH Origination, Positive Pay fraud detection, and Merchant Card Services. Additional services include Trust Services (via Plimoth Trust Company), Personal Investments & Insurance, Government Banking, Safe Deposit Boxes, Telephone Banking, Financial Wellness programs, and community initiatives. The bank operates across multiple Massachusetts locations (Monson, Wilbraham, Hampden, East Longmeadow, Ware) and celebrates its 150th anniversary in 2025-2026.

Differentiator

Problem solved

Functional benefit

Brands

• Community Giving Initiative: An annual community outreach program that invites local residents to vote for nonprofit organizations the bank should support, reflecting the bank's commitment to local communities.

Products and services

• Personal Checking Accounts (MoneyMaking, CashBack, Student, Free, Fresh Start)
• Personal Savings Accounts (MoneyMaking, Statement, Smart Start, Holiday Club)
• Certificates of Deposit (CDs)
• Individual Retirement Accounts (IRAs)
• Business Checking Accounts (Small Business Checking, Business Checking)
• Business Statement Savings
• Home Mortgage Loans
• Home Equity Line of Credit (HELOC)
• First Time Homebuyer Loan Program
• Homeownership Assistance Partner Programs
• Mass Save® HEAT Loan
• Credit Builder & Savings Program
• Commercial Real Estate Loans
• Business Line of Credit
• Business Term Loans
• Equipment Loans
• Small Business Administration (SBA) Loans
• Municipal Lending
• Credit Cards (Personal, Secured, Business)
• Digital and Mobile Banking
• Send & Receive Money with Zelle®
• Mobile Wallet
• CardHub
• Business Cash Management Services (Remote Check Deposit, ACH Origination, Positive Pay, Sweep Accounts, Lockbox Processing, Merchant Card Services)
• Government Banking Products & Services
• Trust Services
• Personal Investments & Insurance
• Safe Deposit Boxes
• Telephone Banking
• Bank@Work Program

Quantifiable outcome

• 100% of deposits fully insured through FDIC and DIF
• +1 more outcomes

Named customers4 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

Integration6 records

Feature6 records

Partnerships

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

• Plimoth Trust CompanycoreStrategic or Co-development PartnerPartnership providing expert, dependable, and personalized trust services to Monson Savings Bank customers. The bank leverages Plimoth Trust Company's expertise to offer trust services including estate planning, trust administration, and wealth management solutions.
• Osaic InstitutionscoreStrategic or Co-development PartnerFinancial advisor partnership providing investment services through Paul R. Duquette, Vice President and Financial Advisor. Osaic Institutions brings over 30 years of financial services experience and a client-first philosophy to bank customers.
• FHLBank BostoncoreStrategic or Co-development PartnerParticipating partner in the Lift Up Homeownership program, a Federal Home Loan Bank of Boston initiative providing financial assistance to people of color purchasing their first home. This partnership expands access to homeownership for underserved communities.
• PROSHRED of WilbrahamminorGTM or Marketing PartnerProfessional shredding service partner for annual Community Shred Day events. PROSHRED provides secure, on-site document destruction services for the bank's free community shred events.
• YWCA of Western MassachusettsflagshipGTM or Marketing Partner$100,000 contribution to the YWCA's $7.5 million Shifting the Paradigm campaign. President and CEO Dan Moriarty serves as Co-Chair of the campaign and member of the Finance Committee. The partnership supports domestic violence shelter, sexual assault counseling, youth education, and housing programs serving over 12,000 people annually.
• Massachusetts Bankers AssociationflagshipGTM or Marketing PartnerIndustry association membership and leadership. President and CEO Dan Moriarty elected to MBA Board of Directors. Heather Arbour received MBA's 2026 Emerging Leader Award. The bank actively participates in MBA initiatives and advocacy.
• Tech FoundryminorStrategic or Co-development PartnerPartnership announced with Comcast to expand internet access and digital skills training in Springfield, supporting community digital literacy initiatives.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Bank of America: Large national bank with branches across Western Massachusetts and a full digital platform; competes with Monson for retail deposits, mortgages, and small business banking, and is the type of incumbent whose branch closures create share-gain opportunities for Monson.
• Berkshire Bank: Larger New England community bank operating broadly across Western Massachusetts with full personal/business/commercial banking — a bigger incumbent that competes with Monson for the same Western MA small business and retail customers.

Regional players

• Westfield Bank: Western Massachusetts community bank with a larger branch network offering similar personal/business banking and mortgage products — a regional competitor scaling faster than Monson within overlapping geographies.
• Millbury National Bank: Central Massachusetts community bank of similar small size, with personal and business banking products overlapping Monson's; former employer of Monson AVP Michelle Beaudette, indicating direct talent-market overlap.
• United Bank (Massachusetts): Massachusetts community bank headquartered in West Springfield serving the same Pioneer Valley geography as Monson with a comparable product mix of deposit accounts, mortgages, and business banking.

Direct peers

• Greenfield Cooperative Bank: Franklin County, MA community bank with a cooperative structure offering personal and business banking products that overlap materially with Monson's product set and target customers.
• Florence Bank: Western Massachusetts mutual savings bank with a closely aligned community banking model, similar deposit and small-business lending focus, and overlapping branch geographies.
• Country Bank: Massachusetts-based community bank offering a comparable mix of personal and business banking, mortgages, and commercial lending across similar Central/Western MA geographies — directly competing for the same customer base as Monson.
• Easthampton Savings Bank: Mutual savings bank operating in Western Massachusetts with the same depositor-owned community banking model, similar branch-led distribution, and comparable product set — competing head-to-head in Monson's region.
• North Brookfield Savings Bank: Another small Massachusetts mutual savings bank with a similar community-banking model and footprint; Monson's VP Wendy Wakefield was most recently employed there, evidencing direct operational and competitive overlap in the Central/Western MA market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/BankMonson
• YouTubeyoutube.com/channel/UCQb2W0Ee3Xh5mi48JE466lg
• Facebookfacebook.com/MonsonSavings
• LinkedInlinkedin.com/company/monson-savings-bank
• Instagraminstagram.com/monsonsavings

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Monson Savings Bank