Savers Bank
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.
- Company typePrivate
- Founded1910
- HeadquartersSouthbridge, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
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.
Savers Bank firmographics
Firmographics- 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
Savers Bank industry classification
Industry- 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
Where Savers Bank is headquartered
LocationHeadquarters
- HQ city
- Southbridge
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Savers Bank 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 interest rate spreads on loans (mortgages, HELOCs, auto loans, personal loans, business loans) and fees charged on deposit accounts.
- Deposit Account Fees: Monthly maintenance fees, ATM fees, overdraft fees, and other account-related charges.
- Investment Services Commissions: Securities and investment products offered through LPL Financial partnership, generating commission revenue.
- Payroll Services Referral: Referral fees from Paychex partnership for payroll, HR, and benefits outsourcing services.
- Merchant Services: Credit card processing revenue through Clover partnership for business merchant services.
- Credit Card Income: Credit card fees and interchange income through Elan Financial Services partnership.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | HELOC 12-Month Intro Rate |
| Subscription | Monthly | Kick-Start Savings Account |
| Unit Pricing | Monthly | Unsecured Personal Loans |
| Unit Pricing | Monthly | Collateral Loans |
| Transaction based/ take rate | Pay-as-you-go | Referral Program |
| Other | Pay-as-you-go | SAGE Scholars Sign Up Bonus |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
Savers Bank product offering
Product offeringCore 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
Companies that use Savers Bank
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles1 record
Savers Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration16 records
Feature5 records
Savers Bank partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- PaychexcorePaychex 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 FinancialcoreLPL 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 ScholarscoreSAGE 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.
- BanzaiminorBanzai 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.
- ClovercoreClover 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 ServicescoreElan 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 PrimeminorSAGE 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
Savers Bank competitors and assessment
Company assessmentRegional 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
Savers Bank social profiles
Digital presenceSavers Bank compliance and trust
Trust signalCompliance3 records
Savers Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Savers Bank leadership team
Management profileNumber of profiles
Profiles7 records
Savers Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Savers Bank 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 Savers Bank
What does Savers Bank do?
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.
Is Savers Bank a public or private company?
Savers Bank is a private company. It is classified as unknown and is currently operating.
When was Savers Bank founded?
Savers Bank was founded in 1910. It employs 101 to 250 people.
Where is Savers Bank based?
Savers Bank is headquartered in Southbridge, United States, in the North America region.
How does Savers Bank make money?
Six revenue lines are on record. Net Interest Income is the primary driver. The others are deposit Account Fees, investment Services Commissions, payroll Services Referral, merchant Services and credit Card Income.
Who are Savers Bank's main competitors?
Regional players on record are Reading Cooperative Bank and Hometown Bank. Commerce Bancshares is listed as a broad incumbent. Direct peers are East Boston Savings Bank (Meridian Bancorp), Berkshire Hills Bancorp (Berkshire Bank), Washington Trust Company, Brookline Bancorp, Florence Bank, Rockland Trust (Independent Bank Corp) and Cambridge Savings Bank.
Does Savers Bank have an API?
No public API is recorded for Savers Bank.
What industry is Savers Bank in?
Savers Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAE, Branch & In-Person Banking (Teller/ATM Networks). Its NAICS code is 522180 and its SIC code is 6036.