Dedham Savings
Dedham Savings is a Massachusetts state-chartered community savings bank founded in 1831, serving consumers, families, students, and businesses across Eastern Massachusetts with checking, savings, lending, treasury management, cannabis banking, and LPL-partnered investment services through roughly a dozen branches and digital channels.
- Company typePrivate
- Founded1831
- HeadquartersDedham, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Dedham Savings does
Dedham Savings is a state-chartered mutual-style savings bank founded in 1831 and headquartered at 55 Elm Street in Dedham, Massachusetts. It operates as an affiliate of South Shore Bank under a common holding company, Charlesbridge, and serves consumers, families, students, small-to-medium businesses, and specialized organizations across Eastern Massachusetts through a network of roughly 12-13 branches. The bank offers a full-service community banking product suite spanning consumer checking and savings (Student Checking, Free & Easy Checking, Check Rewards Checking, High Yield Savings, Money Market, and CDs), residential mortgages and home equity, commercial and commercial real estate lending, treasury management, and specialized verticals including cannabis-related business banking, IOLTA/legal trust accounts, condo association lending, government banking, and nonprofit banking.
The technology stack is a conventional third-party-powered digital banking platform rather than proprietary infrastructure: a mobile app (iOS/Android) and online banking portal supported by integrations with Zelle, Mastercard, Elan Financial Services (credit cards), Fiserv (loan payoff portals), Deluxe (checks), and LPL Financial (investments/insurance). Notable differentiated features include Card Controls, ZDeposit/ZRent (a ZSuite landlord banking portal automating Massachusetts security-deposit compliance and rent collection), combined FDIC and DIF deposit insurance providing coverage beyond standard FDIC limits, and "Digital Ambassadors" — branch staff trained to assist customers with digital tools. Treasury management adds ACH, wire, lockbox, remote deposit capture, and Positive Pay fraud detection.
The business model is a traditional bank revenue structure: net interest income from the spread between loan interest and deposit costs, supplemented by deposit account fees, loan servicing fees, cannabis banking fees ($400/month plus a $250 opening fee), and referral revenue from the LPL Financial investment/insurance partnership. Go-to-market is a hybrid of relationship-based, sales-led business banking (dedicated Business Relationship Managers, commercial and commercial real estate lending teams) and direct-to-consumer branch plus digital self-service distribution, augmented by a 55,000+ surcharge-free ATM network via the SUM and AllPoint networks.
Dedham Savings firmographics
Firmographics- Name
- Dedham Savings
- Legal name
- Dedham Savings
- Website
- https://dedhamsavings.com
- Company type
- Private
- Founded year
- 1831
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Dedham Savings is a Massachusetts state-chartered community savings bank founded in 1831, serving consumers, families, students, and businesses across Eastern Massachusetts with checking, savings, lending, treasury management, cannabis banking, and LPL-partnered investment services through roughly a dozen branches and digital channels.
- Ownership category
- akta.pro rank
Dedham Savings industry classification
Industry- Product category
- Community Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180), Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Savings Banks (Public/State-Owned) (FSABAKAK)
- akta.pro secondary industries
- Mutual Savings Banks & Mutual Thrifts (FSABAEAD), General-Purpose Debit Card Schemes (FSAMAAAB), Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)
Keywords
Where Dedham Savings is headquartered
LocationHeadquarters
- HQ city
- Dedham
- HQ country
- United States
- HQ region
- North America
Offices12 records
Markets served
Dedham Savings 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
- Net Interest Income: Primary revenue stream from spread between interest earned on loans (mortgages, commercial loans, consumer loans, home equity) and interest paid on deposits (checking, savings, money market, CDs).
- Deposit Account Fees: Monthly service charges on certain accounts (e.g., $20/month for Check Rewards Checking waived with $10,000+ balance), overdraft fees, and ATM-related fees.
- Loan Servicing Fees: Fees from mortgage and loan servicing including payoff requests, stop payments, and late payment charges.
- Cannabis Business Banking Fees: Monthly service fees for Cannabis Checking accounts ($400/month) plus one-time account opening fees ($250).
- Investment & Insurance Referrals: Revenue sharing arrangements with LPL Financial for referrals of investment and insurance products through the Investment Center at Dedham Savings.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Check Rewards Checking: 0.05% APY on all balances |
| Subscription | Monthly | High Yield Savings: 3.40% APY for $20,000-$2,500,000 balance |
| Subscription | Monthly | Start Up Savings: 5.00% APY for balances $0-$1,000 |
| One time/ perpetual license | Multi-year contract | 5 Month CD Special: 3.80% APY |
| One time/ perpetual license | Multi-year contract | 8 Month CD Special: 3.70% APY |
| One time/ perpetual license | Multi-year contract | 15 Month CD Special: 3.50% APY |
| Subscription | Monthly | Cannabis Checking: $400/month service fee |
| Subscription | Monthly | Community Checking: $3/month (waived with $700 minimum balance) |
| Subscription | Monthly | Business Interest Checking: $10/month (waived with $100,000 minimum balance) |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
Dedham Savings product offering
Product offeringCore offering
Dedham Savings is a Massachusetts-chartered community savings bank that provides consumer and business banking products, including checking and savings accounts, mortgages, home equity, commercial real estate loans, treasury management, and specialized offerings such as cannabis banking and landlord services. The bank generates revenue primarily from net interest income on loans and deposits, supplemented by account fees, loan servicing fees, and referral commissions from its LPL Financial investment partnership.
Product overview
Dedham Savings offers a comprehensive banking platform providing personal and business banking services through multiple delivery channels including branch locations, mobile app, and online banking. The core product portfolio spans checking and savings accounts (Student Checking, Free & Easy Checking, Check Rewards Checking, Start Up Checking, High Yield Savings, Money Market Accounts, Certificates of Deposit), loan products (mortgages, home equity, construction loans, commercial real estate, Express Business Loans, cannabis banking), and value-added services (Mobile Banking, Online Banking, Card Controls, Mobile Deposit, Bill Pay, Personal Finance, Credit Score). Business banking includes specialized offerings (Community Checking, Cash Management, IOLTA, Treasury Management, ZDeposit/ZRent for landlords, Cannabis Banking). Investments and insurance products are offered through a partnership with LPL Financial. The bank operates 13 branch locations across Massachusetts and provides 24/7 digital banking access with 55,000+ free ATMs through SUM and AllPoint networks.
Differentiator
Problem solved
Functional benefit
Products and services
- Student Checking
- Free & Easy Checking
- Check Rewards Checking
- Start Up Checking
- High Yield Savings
- Start Up Savings
- Statement Savings
- Money Market Account
- Certificate of Deposit (CD)
- Mortgages
- Home Equity Options
- Construction Loans
- Debit MasterCard
- Credit Cards
- Community Checking
- Basic Business Checking
- Business Interest Checking
- Cash Management Checking
- IOLTA Checking
- Cannabis Checking
- Cannabis Financing
- ZDeposit
- ZRent
- Express Business Loans
- Commercial Real Estate Loans
- Treasury Management
- Condo Association Lending
- Government Banking
- Nonprofit Banking
- Investment Center at Dedham Savings
- Personal Investments
- Group Retirement Plans
Companies that use Dedham Savings
Customer profileNamed customers2 records
Segments6 records
Ideal customer profiles5 records
Dedham Savings technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration20 records
Feature4 records
Dedham Savings partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- South Shore BankcoreAffiliate bank under common holding company Charlesbridge. Both banks serve the Eastern Massachusetts market.
- LPL FinancialcoreInvestment Center at Dedham Savings provides investment and insurance products through LPL Financial, a registered investment advisor and broker-dealer. Dedham Savings earns referral fees for customer introductions.
- Tuition RewardsminorCollege tuition savings program partnered with Dedham Savings family banking products. Allows clients to earn tuition rewards based on deposit amounts at participating colleges.
- MastercardcoreDebit and credit cards issued on Mastercard network. Provides global acceptance and Zero Liability Protection for cardholders.
- Elan Financial ServicescoreCredit card issuer and servicer for Dedham Savings credit card products. Provides card processing, customer service, and fraud protection.
- FIS GlobalcoreProvides loan servicing technology including online payoff portals for residential and commercial loans.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Dedham Savings competitors and assessment
Company assessmentBroad incumbents
- Rockland Trust (Independent Bank Corp): Larger Eastern Massachusetts commercial bank offering the same consumer, business, CRE, and treasury products across an overlapping footprint.
- Eastern Bank: Large Boston-area bank offering overlapping consumer, business, and wealth services across Eastern Massachusetts, competing for the same customers at greater scale.
- Berkshire Bank: Regional New England bank with overlapping consumer, business, and CRE lending; larger and broader but competes in the same category.
Direct peers
- Needham Bank: Massachusetts community savings bank operating in the same suburban Boston towns (including Needham); comparable consumer, business, and cannabis banking offerings.
- Salem Five: Massachusetts mutual savings bank with a similar mix of consumer, business, mortgage, and digital banking across the eastern part of the state.
- South Shore Bank: Affiliate bank under the same Charlesbridge holding company serving Eastern Massachusetts; nearly identical community-bank model, geography, and product set.
- Cambridge Savings Bank: Massachusetts mutual savings bank with a similar full-suite retail, business, and digital banking model in Greater Boston.
- Century Bank: Massachusetts bank known as an early leader in cannabis banking, directly overlapping Dedham's specialized cannabis franchise and community-bank model.
Regional players
- BankGloucester: Small Massachusetts community savings bank with a comparable deposit-and-lending model but serving the North Shore rather than Dedham's territory.
- Brookline Bancorp: Greater Boston community banking group with comparable commercial and retail lending focus in overlapping Massachusetts markets.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Dedham Savings social profiles
Digital presenceDedham Savings compliance and trust
Trust signalCompliance5 records
Dedham Savings financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dedham Savings leadership team
Management profileNumber of profiles
Profiles9 records
Dedham Savings funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dedham Savings M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dedham Savings
What does Dedham Savings do?
Dedham Savings is a Massachusetts-chartered community savings bank that provides consumer and business banking products, including checking and savings accounts, mortgages, home equity, commercial real estate loans, treasury management, and specialized offerings such as cannabis banking and landlord services. The bank generates revenue primarily from net interest income on loans and deposits, supplemented by account fees, loan servicing fees, and referral commissions from its LPL Financial investment partnership.
Is Dedham Savings a public or private company?
Dedham Savings is a private company. It is classified as corporate owned and is currently operating.
When was Dedham Savings founded?
Dedham Savings was founded in 1831. It employs 101 to 250 people.
Where is Dedham Savings based?
Dedham Savings is headquartered in Dedham, United States, in the North America region.
How does Dedham Savings make money?
Five revenue lines are on record. Net Interest Income is the primary driver. The others are deposit Account Fees, loan Servicing Fees, cannabis Business Banking Fees and investment & Insurance Referrals.
Who are Dedham Savings's main competitors?
Broad incumbents on record are Rockland Trust (Independent Bank Corp), Eastern Bank and Berkshire Bank. Direct peers are Needham Bank, Salem Five, South Shore Bank, Cambridge Savings Bank and Century Bank. Regional players are BankGloucester and Brookline Bancorp.
Does Dedham Savings have an API?
No public API is recorded for Dedham Savings.
What industry is Dedham Savings in?
Dedham Savings's product category is Community Banking. Its primary akta.pro industry code is FSABAKAK, Savings Banks (Public/State-Owned), with a secondary code of FSABAEAD, Mutual Savings Banks & Mutual Thrifts. Its NAICS code is 522180 and its SIC code is 6036.