Savers Bank

What Savers Bank does

Savers Bank is a privately held community bank founded in 1910 and headquartered in Southbridge, Massachusetts, operating six branch locations across Central Massachusetts (Auburn, Charlton, Grafton, Southbridge, Sturbridge, and Uxbridge). The bank provides full-service personal and business banking products including multiple checking and savings account tiers, mortgages and home equity products, consumer and commercial lending, credit cards, merchant services, payroll/HR referrals, and investment services. Technology infrastructure consists of a traditional community banking core supplemented by digital channels including online account opening, iOS/Android mobile apps, mobile wallets (Apple Pay, Google Pay, Samsung Pay), and the third-party MX Money Management personal financial management tool.

Revenue is generated primarily through net interest income on loans (mortgages, HELOCs, auto, personal, business) and deposit account fee spreads, supplemented by referral commissions from strategic partner integrations: LPL Financial for investment services, Elan Financial Services for credit card issuance, Clover for merchant point-of-sale, and Paychex for payroll/HR outsourcing. The bank serves two primary customer segments — Central Massachusetts retail consumers and local small-to-medium businesses — with secondary segments including youth/students (Propel and Kick-Start accounts), homebuyers, and investment advisory clients in six states.

Distribution combines physical branches with self-serve digital onboarding, supported by community-oriented marketing (Savers Two Cents Blog, local events, referral program) and financial literacy partnerships (Banzai, SAGE Scholars). The bank has earned BauerFinancial's Five Star Superior Rating (January 2026) and operates under FDIC insurance and NMLS licensing, maintaining compliance and brand reputation as core strategic assets in its regional market.

Name

Savers Bank

Legal name

Savers Bank

Website

https://saversbank.com

Company type

Private

Founded year

1910

Operating status

Operating

Headcount range

101–250 employees

Short description

Savers Bank is a privately held community bank founded in 1910, operating six branches in Central Massachusetts and providing full-service personal and business banking, mortgages, lending, credit cards, merchant services, payroll referral, and investment services to local consumers and SMBs.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (522110)

SIC

Savings Institutions, Not Federally Chartered (6036), State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Student & Youth Banking (FSABAAAH), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Personal checking accounts
• Residential mortgage lending
• Small business lending
• Consumer deposit products

Headquarters

HQ city

Southbridge

HQ country

United States

HQ region

North America

Offices6 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. Net Interest Income: Primary revenue stream from interest rate spreads on loans (mortgages, HELOCs, auto loans, personal loans, business loans) and fees charged on deposit accounts.
2. Deposit Account Fees: Monthly maintenance fees, ATM fees, overdraft fees, and other account-related charges.
3. Investment Services Commissions: Securities and investment products offered through LPL Financial partnership, generating commission revenue.
4. Payroll Services Referral: Referral fees from Paychex partnership for payroll, HR, and benefits outsourcing services.
5. Merchant Services: Credit card processing revenue through Clover partnership for business merchant services.
6. Credit Card Income: Credit card fees and interchange income through Elan Financial Services partnership.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Savers Bank is a community bank that accepts consumer and business deposits and extends consumer, mortgage, and commercial loans, earning revenue primarily from net interest income. It delivers these products through six Central Massachusetts branches complemented by online and mobile banking, with supplementary services in investment, merchant card processing, and payroll/HR referrals.

Product overview

Savers Bank is a community bank offering a comprehensive suite of personal and business banking products through both physical branches and digital channels. The core banking platform includes multiple personal checking account options (Ka-Ching, e-Checking, Basic, Simply Better), personal savings products (Statement Savings, Money Market, CDs, IRAs), and home lending (Fixed and Adjustable Rate Mortgages, Construction Loans, Land Loans, HELOCs, Home Equity Loans). Business banking encompasses Free Business Checking, Business Activity Checking, commercial lending, and Business Express Solutions cash management platform. The bank supplements its core products with strategic partner integrations: Paychex for payroll/HR services, Clover for merchant services/POS, MX Money Management for personal finance tools, mobile wallets (Apple Pay, Google Pay, Samsung Pay), uChoose Rewards for debit card points, and SAGE Scholars for college savings. Additional services include investment products through LPL Financial, youth banking programs, custom debit cards, Roll It Up automatic savings, and the Savers Two Cents Blog for financial education.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts
• Personal Savings Accounts
• Home Loans and Home Equity
• Personal Lending and Credit Cards
• Business Checking and Savings
• Business Lending
• Business Express Solutions (BES)
• Payroll and HR Services (Paychex Partnership)
• Merchant Services (Clover)
• Investment Services (LPL Financial Partnership)
• Youth Banking
• SAGE Scholars Tuition Rewards Program
• Online and Mobile Banking

Quantifiable outcome

• 0.25% rate discount on mortgages with automatic payment from Savers Bank checking account
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• PaychexcoreStrategic or Co-development PartnerPaychex partnership provides Savers Bank business customers access to full-service payroll, HR, and employee benefits administration. Paychex serves nearly 800,000 clients nationwide and is a leading provider of HR solutions including payroll tax administration, retirement services (401k), insurance services, and human resource assistance.
• LPL FinancialcoreChannel Partner/ Reseller/ DistributorLPL Financial provides securities brokerage services for Savers Investment Services. Securities are offered through LPL Financial, a registered broker-dealer and member FINRA/SIPC. Investment Executive Peter J. Kaslauskas offers products through this partnership to individuals and businesses in Massachusetts, Connecticut, Rhode Island, New Hampshire, Virginia, and North Carolina.
• SAGE ScholarscoreStrategic or Co-development PartnerSAGE Scholars is a private college savings program partnership offering depositors the opportunity to earn Tuition Rewards Points redeemable for guaranteed minimum financial aid at over 400 participating colleges and universities. Points are earned based on deposit account balances and loan products, potentially saving up to 25% on college tuition.
• BanzaiminorStrategic or Co-development PartnerBanzai provides free financial education resources including calculators and educational content for customers, teachers, and the community covering money management, saving, investing, and credit skills. Integrated into the bank's website and mobile app.
• ClovercoreChannel Partner/ Reseller/ DistributorClover provides point-of-sale (POS) systems and merchant services for Savers Bank business customers. Clover's all-in-one POS solutions include payment processing, inventory management, staff scheduling, and online ordering capabilities for restaurants, retail, and service businesses.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services provides credit card issuance and servicing for Savers Bank customers. Cards are issued under Visa and Mastercard licenses with zero fraud liability protection and 24/7 cardmember service.
• SAGE PrimeminorStrategic or Co-development PartnerSAGE Prime offers at least 10% discount on non-traditional education programs offered by member colleges and universities through the SAGE Scholars consortium.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Regional players

• Reading Cooperative Bank: Massachusetts community bank with comparable deposit, mortgage, and business banking offerings, though operating in the Greater Boston/North Shore area rather than Central MA. Similar scale band and customer profile.
• Hometown Bank: Massachusetts community bank with similar personal/business banking and mortgage focus, serving adjacent but non-overlapping Central Massachusetts communities. Comparable scale and product mix.

Broad incumbents

• Commerce Bancshares: Larger regional bank with a similar community banking philosophy and full-service personal/business offering, but operating at much greater scale across multiple states. Comparable business model, broader geographic footprint.

Direct peers

• East Boston Savings Bank (Meridian Bancorp): Massachusetts mutual savings bank offering consumer and business banking products including checking, savings, mortgages, and cash management—highly comparable as a state-chartered community savings institution.
• Berkshire Hills Bancorp (Berkshire Bank): New England community/regional bank offering comparable personal and business banking, mortgages, and wealth services. Closely comparable operating model with branch + digital hybrid distribution in similar geographies.
• Washington Trust Company: New England-based community bank offering personal and business banking, mortgages, and wealth management. Comparable operating model with branch + digital distribution in adjacent New England geography.
• Brookline Bancorp: Massachusetts community bank holding company offering personal and business banking, mortgages, and cash management across multiple community bank charters. Comparable asset size and product breadth.
• Florence Bank: Massachusetts community bank with comparable personal and business banking offerings, including mortgages and small business services. Very similar scale and geographic focus in Western/Central Massachusetts.
• Rockland Trust (Independent Bank Corp): Massachusetts-based community bank with similar full-service personal and business banking offering, comparable branch-led distribution model, and similar asset size band. Directly competitive in the same New England community banking segment.
• Cambridge Savings Bank: Massachusetts-based community savings bank with full personal and business banking including mortgages, cash management, and digital channels. Highly comparable in scale and operating model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/Saversbank
• Facebookfacebook.com/saversbank
• LinkedInlinkedin.com/company/savers-bank
• Xx.com/saversbank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Savers Bank