Greenfield Savings Bank

What Greenfield Savings Bank does

Greenfield Savings Bank (GSB) is a mutual savings bank founded in 1869 and headquartered in Greenfield, Massachusetts, operating nine full-service branches across Franklin and Hampshire counties in Western Massachusetts. It serves individual consumers, small to medium-sized businesses, and wealth management clients through three product pillars: personal banking (four-tier checking, savings, money market, CDs, IRAs, mortgages, home equity), business banking (three checking tiers, savings, SEP IRAs, and full cash management including ACH origination, Positive Pay, wire transfers, remote deposit capture, payroll, and merchant services), and Wealth Management & Trust Services (portfolio management, trust administration, estate settlement, and investments/insurance via Osaic Institutions). The bank manages over $1.4 billion in total assets, with the Wealth Management subsidiary overseeing approximately $500 million in client assets nationwide.

The technology stack is built largely on third-party providers rather than proprietary systems. Mobile and online banking are powered by Fiserv, with two-factor authentication layered on, and include features such as mobile check deposit, bill pay, real-time alerts, and card controls. GSB operates Interactive Teller Machines (including the iconic Money Tree ITM) with live teller support and enhanced accessibility, and has integrated Zelle for person-to-person payments and Mastercard with Money Pass ATM access for business customers. Compliance posture includes FDIC plus Massachusetts DIF deposit insurance, FINRA/SIPC coverage through Osaic for securities, USA PATRIOT Act customer identification, and WCAG 2.0 AA website accessibility targets.

The bank earns revenue primarily through net interest income on its loan and securities portfolio funded by deposits, supplemented by account service fees, debit card interchange, cash management transaction fees, and recurring asset-based fees in the Wealth Management subsidiary. Pricing follows a tiered subscription-plus-transaction model across consumer and business accounts, with most monthly fees waivable through balance or activity thresholds. Distribution is community-led and sales-led through physical branches, supplemented by referral bonuses, community events, sponsorships, social media, and content marketing. As a mutual institution owned by its depositors, GSB reinvests profits locally rather than returning capital to external shareholders.

Name

Greenfield Savings Bank

Legal name

Greenfield Savings Bank

Website

https://greenfieldsavings.com

Company type

Private

Founded year

1869

Operating status

Operating

Headcount range

101–250 employees

Short description

Greenfield Savings Bank is a mutual community bank founded in 1869 in Western Massachusetts, operating nine branches across Franklin and Hampshire counties, offering personal banking, business banking, and wealth management & trust services to consumers, SMBs, and trust clients.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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)

akta.pro secondary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

Keywords

• Community banking
• Retail banking services
• Wealth management
• Business cash management
• Trust and estate services

Headquarters

HQ city

Greenfield

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Traditional banking revenue from interest earned on loans (mortgages, commercial loans, consumer loans) minus interest paid on deposits. The bank manages over $1.4 billion in assets.
2. Banking Service Fees: Monthly service charges on checking and savings accounts, ATM fees, wire transfer fees, overdraft protection fees, and cash management service fees
3. Wealth Management and Trust Services: Investment management fees, trust administration fees, and estate settlement services. GSB Wealth Management oversees $500 million in assets and serves clients nationwide. Established in 1992.
4. Cash Management Services: Business cash management services including ACH origination, wire transfers, remote deposit, Positive Pay, and payroll services with per-transaction or monthly fees

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Greenfield Savings Bank is a mutual community savings bank offering full-service personal banking, business banking, and wealth management & trust services. The bank provides checking, savings, CDs, IRAs, mortgages, home equity loans, debit cards, mobile and online banking for individuals, alongside business checking, cash management, and commercial lending for businesses. Its wholly owned subsidiary, GSB Wealth Management and Trust Services, provides portfolio management, trust administration, and estate settlement.

Product overview

Greenfield Savings Bank is a full-service community bank offering a comprehensive suite of banking products across three main segments: Personal Banking, Business Banking, and Wealth Management & Trust Services. The Personal Banking division provides four distinct checking tiers (Student, Basic, Rewards, and Emerald), savings accounts including Money Market and Certificates of Deposit, IRAs, residential mortgages, home equity products, and mobile/online banking. Business Banking includes Small Business Checking, Business Interest Checking, Business Analysis Checking, Business Savings, Money Market accounts, SEP IRAs, and comprehensive Cash Management Services (ACH origination, Positive Pay, wire transfers, remote deposit, merchant services, payroll). The bank's wholly owned subsidiary, GSB Wealth Management & Trust Services (established 1992, overseeing approximately $500 million in assets), provides Portfolio Management, Trust Services, Estate Settlement, and Investments & Insurance through Osaic Institutions. Additional offerings include debit cards with uChoose Rewards, mobile banking powered by Fiserv, business fraud prevention training, and energy efficiency loans.

Differentiator

Problem solved

Functional benefit

Brands

• GSB Wealth Management and Trust Services: Wholly owned subsidiary providing investment management, trust administration, and estate settlement services. Established in 1992, oversees approximately $500 million in assets and serves clients nationwide.
• GSB Investments & Insurance

Products and services

• Student Checking Account Checking account designed for students with no monthly service charge, no minimum balance, preferred savings rate up to $2,500, report card rewards for grades above 3.0, and cash back on school supplies up to $50/year.
• Basic Checking Account Straightforward personal checking account with no minimum balance, $10 monthly service charge waived with direct deposit or ACH debit, and digital tools for everyday banking.
• Rewards Checking Account
• Emerald Checking Account Premium personal checking account with high-interest earning, free domestic wires, ATM fee waiver, $500 mortgage closing cost discount; $25 monthly fee waived with $25k balance or $100k relationship balance.
• Everyday Statement Savings Simple personal savings account with competitive rates, no monthly service charge, $10 minimum opening deposit, and FDIC insurance.
• Money Market Account Personal savings product with competitive tiered rates, check writing capabilities, and FDIC insurance for higher balances.
• Certificates of Deposit
• Individual Retirement Accounts (IRAs)
• Small Business Checking Business checking account with no monthly service charge, $50 opening balance, 300 free transactions per month, and overdraft protection for small businesses.
• Business Interest Checking Interest-bearing business checking with 500 free transactions monthly, $5,000 minimum daily balance waiver, and referral bonuses for new business relationships.
• Business Analysis Checking Business checking for higher transaction activity with 2.5% earnings credit to offset fees, per-item pricing at $0.15, overdraft protection, and referral bonuses up to $500.
• Business Statement Savings Business savings account with $10 minimum deposit, $5 monthly fee if balance below $500, automatic transfers, and FDIC insurance.
• Business Money Market Account Business money market account with $1,000 minimum deposit, competitive tiered rates, limited check writing, and automatic transfer capabilities.
• SEP IRAs
• Mortgage Loans
• Home Equity & Line of Credit Loans
• Cash Management Services Comprehensive business cash management including ACH origination, Positive Pay fraud detection, sweep overdraft protection, wire transfers, remote deposit capture, bill payment, real-time alerts, payroll services, and merchant services.
• Mobile Banking
• Online Banking
• GSB Business Mobile App
• Business Debit Cards
• Portfolio Management
• Trust Services
• Estate Settlement
• Investments & Insurance

Quantifiable outcome

• Assets grew from $1 billion to $1.4 billion under Meshako's leadership from 2016 to 2025
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• FiservcoreTechnology or IntegrationTechnology provider powering the GSB mobile banking app, enabling real-time balances, account management, mobile check deposit, and card controls through their mobile banking platform.
• Osaic Institutions, Inc.coreStrategic or Co-development PartnerInvestment services partner providing access to wide range of financial services including retirement planning, IRA rollovers, stocks, mutual funds, annuities, and fixed income products through GSB Investments & Insurance.
• United Way of Franklin & Hampshire RegioncoreStrategic or Co-development PartnerStrategic community partner for philanthropy and charitable giving. GSB supports United Way initiatives and receives funding requests from agencies that receive United Way funding.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Regional players

• Berkshire Bank: Massachusetts-based community bank serving Western and Central Massachusetts with full personal, business, and wealth services. Closely comparable to GSB in geography and product breadth, but materially larger (~$13B assets) and stock-form.
• East Boston Savings Bank: Massachusetts mutual savings bank offering personal and business banking. Comparable mutual-structure savings bank model with community focus, though serving the Eastern Mass market rather than Western Mass.
• Salem Five Bank: Massachusetts mutual savings bank offering personal banking, business banking, and wealth management. Similar mutual community banking model to GSB, though based in the North Shore region.
• Middlesex Savings Bank: Massachusetts mutual savings bank providing personal, business, and wealth services through community branches. Same mutual-structure savings bank model with comparable deposit/lending focus.
• Brookline Bank (Brookline Bancorp): Massachusetts community bank offering personal and business banking plus wealth management. Comparable product breadth and community banking focus, but stock-form parent and larger scale.
• Cambridge Savings Bank: Massachusetts mutual savings bank with personal banking, business banking, and wealth management services. Comparable mutual savings bank model with similar deposit/lending product breadth.
• Country Bank: Massachusetts community bank serving Worcester County and surrounding areas with personal, business, and wealth services. Comparable full-service community bank profile to GSB in Central Massachusetts.
• Florence Bank: Massachusetts mutual savings bank serving the Northampton/Florence area of Hampshire County. Most direct geographic overlap with GSB's footprint, with comparable mutual community banking focus.
• Needham Bank: Massachusetts community bank offering personal and business banking with community reinvestment emphasis. Similar mutual-style community banking positioning though serving the Greater Boston suburbs rather than Western Mass.

Broad incumbents

• Rockland Trust (Independent Bank Corp): Massachusetts-headquartered community bank offering full personal, business, and wealth management services across Eastern and Central Massachusetts. Comparable product suite, larger scale, and stock-form ownership.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/GreenfieldSavings
• LinkedInlinkedin.com/company/greenfield-savings-bank
• Instagraminstagram.com/greenfieldsavings

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

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 Greenfield Savings Bank