Winter Hill Bank

What Winter Hill Bank does

Winter Hill Bank is a mutual federal savings bank established in 1906 and headquartered in Somerville, Massachusetts. Owned by its depositors rather than shareholders, the bank operates three full-service branches in Eastern Massachusetts (Corporate Office at 342 Broadway, Davis Square Branch, and North Reading Office), supplemented by a Loan Center at 337 Broadway and an Operations Center. The bank serves consumer and small business customers with a comprehensive suite of deposit products (six personal checking account tiers including CustomAdvantage, SmartChoice, StudentChoice, Classic NOW, Super NOW, and CustomPLUS Relationship; savings, money market, CDs, and IRAs) and lending products (fixed and adjustable residential mortgages, home equity loans and lines of credit up to $500,000, construction loans, commercial mortgages for 5+ unit residential and retail properties, SBA-backed business loans, personal loans up to $5,000, overdraft lines of credit up to $2,500, and the Simply Rewards Visa credit card issued through UMB Bank).

The technology stack consists of conventional digital banking infrastructure rather than proprietary technology. Core platforms include online banking, native iOS and Android mobile apps with Apple Touch ID support, mobile deposit with a $2,500 daily limit, ePay bill payment, eStatements, Notifi account alerting, and CardValet card management. Deposit Essentials enables 24/7 online account opening, while the Online Mortgage Center supports residential mortgage applications. Payment integrations include Zelle for P2P transfers, Clover (Fiserv) for merchant services, SUM Network for surcharge-free ATM access, and Mastercard for card network processing, with QuickBooks integration for business accounting.

The revenue model is primarily net interest income from lending activities (residential and commercial mortgages, home equity, construction, SBA, and consumer loans), supplemented by deposit account service fees, interchange revenue from the credit card, and merchant services income. Customer segments are consumer/personal banking and small business banking, with secondary segments in retirement planning and student banking (ages 16-22). Distribution is direct-to-consumer through branches, telephone banking (CustomCall), online and mobile channels. Pricing includes promotional CD rates up to 3.70% APY and HELOC introductory rates of 5.99% APR. The bank holds FDIC membership, NMLS #431641 licensure, and Equal Housing Lender designation, with multilingual staff supporting immigrant communities in Greater Boston.

Name

Winter Hill Bank

Legal name

Winter Hill Bank

Website

https://winterhillbank.com

Company type

Private

Founded year

1906

Operating status

Operating

Headcount range

51–100 employees

Short description

Winter Hill Bank is a mutual federal savings bank founded in 1906, headquartered in Somerville, Massachusetts. It provides personal and small business banking — including checking, savings, CDs, IRAs, mortgages, home equity, and merchant services — through three Eastern Massachusetts branches and digital channels.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Prime (Agency/Conforming) Mortgage Servicing (FSALAEAA)

Keywords

• Community banking services
• Personal banking
• Small business banking
• Residential mortgages
• Consumer lending

Headquarters

HQ city

Somerville

HQ country

United States

HQ region

North America

Offices5 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: The bank generates primary revenue through interest earned on residential mortgages, commercial mortgages, home equity loans and lines of credit, construction loans, business loans, personal loans, and credit cards. The bank offers fixed-rate and adjustable-rate mortgage products, SBA loans, and various consumer and commercial lending products.
2. Deposit Account Fees and Services: Revenue from checking account maintenance fees (when minimum balance not maintained), ATM transaction fees at non-WHB ATMs, overdraft fees, wire transfer fees, and various service charges. The bank also offers business services including merchant services through Clover.
3. Certificate of Deposit and Savings Products: The bank offers CDs with various terms (3 months to 60 months), money market deposit accounts, savings accounts, IRA CDs, and special promotional CD rates to attract and retain deposits.
4. Credit Card Revenue: Simply Rewards Visa Credit Card issued through UMB Bank, generating interchange revenue and interest income on outstanding balances.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

Winter Hill Bank is a mutual federal savings bank that provides deposit, lending, and digital banking products to individuals and small businesses in Eastern Massachusetts. Its core offering spans personal and consumer banking (checking, savings, CDs, IRAs, mortgages, home equity, personal loans, overdraft protection, credit cards) and small business banking (business checking, business savings, SBA and term loans, commercial mortgages, merchant services, business debit cards). Distribution is multi-channel, combining three full-service branches, an online platform, and native iOS/Android mobile apps with mobile deposit.

Product overview

Winter Hill Bank is a mutual federal savings bank offering a comprehensive suite of personal and business banking products. The bank's personal banking includes six distinct checking account types (CustomAdvantage, SmartChoice, StudentChoice, Classic NOW, Super NOW, CustomPLUS), multiple savings options (CDs, Christmas Club, Kid's Club, Passbook Savings, Prestige MMDA, Statement Savings), IRA retirement accounts, and various lending products. Digital banking is delivered through the eProducts suite featuring Online Banking, Mobile Banking with Mobile Deposit, ePay bill payment, eStatements, Zelle P2P payments, and Notifi alerts. Lending offerings span residential mortgages, home equity products, construction loans, commercial mortgages, personal loans, overdraft protection, and credit cards. Business banking encompasses BusinessChoice and Business Value Checking accounts, business savings, SBA loans, merchant services via Clover, and Business eProducts for digital banking. The bank operates three branches in Eastern Massachusetts and is headquartered in Somerville, established in 1906.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking A range of consumer checking accounts including CustomAdvantage Checking (ATM fee refunds), SmartChoice Checking (no minimum balance), StudentChoice Checking (ages 16-22), Classic NOW Checking (interest-bearing), Super NOW Checking (higher interest), and CustomPLUS Relationship Checking (tiered benefits) targeted at individual consumers and households seeking everyday banking.
• Savings, MMDA and CDs A suite of consumer savings and time deposit products including Certificates of Deposit with various terms (3-60 months including the 11-month 3.70% APY and 17-month 3.55% APY specials), Christmas Club, Kid's Club, Passbook Savings, Prestige Money Market (tiered 0.40%-0.55% APY), and Statement Savings accounts, targeted at individuals building savings.
• Retirement Plans / IRA CDs Individual Retirement Accounts including Traditional IRAs, Roth IRAs, SEPs, and Education IRAs available as tax-deferred CD terms with various maturities, including a flexible 18-month Statement IRA CD, targeted at consumers planning for retirement and education savings.
• Residential Mortgages Fixed-rate (15-year, 30-year) and adjustable-rate (5/1 ARM) conforming mortgages for 1-4 family owner-occupied properties, plus ONE Mortgage and Homestart programs for first-time homebuyers, with online application and pre-approval via the Online Mortgage Center, targeted at homebuyers and refinancers.
• Home Equity Loans and Lines of Credit Equity Edge fixed-rate home equity loans (10, 15, 20 year terms) and home equity lines of credit from $10,000 to $500,000 with an introductory 5.99% APR for the first 6 months, a 10-year draw period followed by 10-year repayment, and a $50 annual maintenance fee, targeted at homeowners leveraging equity.
• Construction, Rehabilitation, Renovation Loans Construction/permanent mortgages for primary residences and investment properties, including builder/developer construction loans for 1-4 family homes, condominium conversions, mixed-use properties, and subdivisions, plus rehabilitation and renovation financing, targeted at homeowners, builders, and developers.
• Commercial Mortgages Financing for acquisition, refinancing, and construction of residential apartment buildings (5+ units), retail properties, office/R&D, and light industrial properties, targeted at commercial real estate investors and business owners.
• Overdraft Line of Credit A credit line attached to checking accounts that automatically advances funds up to $2,500 when withdrawals or checks exceed the available balance, targeted at individual account holders seeking overdraft protection.
• Personal and Passbook Loans Personal loans up to $5,000 with fixed repayment terms and a 1/4% interest rate reduction for automatic monthly repayment from a Winter Hill Bank personal checking account, plus passbook loans that allow borrowing against savings at low rates, targeted at consumer borrowers.
• Simply Rewards Visa Credit Card A rewards credit card earning 3x points at grocery stores, gas stations, discount stores, and restaurants and 1x points on all other purchases, issued by UMB Bank and serviced through cardcenterdirect.com, targeted at consumer cardholders seeking rewards on everyday spend.
• Business Checking Business banking accounts including BusinessChoice Checking (for small businesses), Business Value Checking (high transaction volume), and IOLTA Super NOW Checking for attorneys, targeted at small and medium-sized businesses and legal professionals in Eastern Massachusetts.
• Business Credit Business financing including term loans, time loans, commercial mortgages, SBA loans (low down payment, government guaranteed), and Business Visa credit cards offered via UMB Bank, targeted at small businesses needing working capital and growth financing.
• Business Savings Business savings options including short and long-term CDs, Prestige Money Market Deposit Account with tiered rates, and savings accounts with online and ATM access, targeted at small and medium-sized businesses.
• Business Services Mastercard Business Debit Card issued for business checking accounts plus night depository services for after-hours deposits, targeted at small business customers for daily cash and card management.
• Merchant Services (Clover) Payment processing services through Clover from Fiserv for all business types, including eCommerce integration, sales tracking, electronic processing, and optional payroll services, targeted at small business merchants needing card acceptance.

Quantifiable outcome

• Special CD promotional rates up to 3.70% APY on 11-month terms
• +3 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• SUM NetworkcoreTechnology or IntegrationWinter Hill Bank is a member of the SUM Network, which provides surcharge-free ATM access to customers at participating financial institutions nationwide. This partnership allows WHB customers to use their ATM or debit cards wherever the SUM symbol is displayed without incurring surcharges from the ATM owner.
• Clover (Fiserv)coreTechnology or IntegrationWinter Hill Bank partners with Clover from Fiserv to provide merchant services to business customers. Clover offers payment processing services for all business types, accepts payments from anywhere, integrates with eCommerce platforms, tracks sales transactions, provides electronic processing, and offers payroll services.
• Zelle (Early Warning Services)coreTechnology or IntegrationWinter Hill Bank has partnered with Zelle to provide fast, safe, and easy person-to-person payment capabilities. Customers can send and receive money directly between bank accounts in the U.S. using email addresses or mobile phone numbers through the bank's online and mobile banking platforms.
• UMB Bank, n.a.coreTechnology or IntegrationWinter Hill Bank offers the Simply Rewards Visa Credit Card issued by UMB Bank, n.a. The partnership provides customers with a rewards credit card offering 3x points on groceries, gas, discount stores, and restaurants, and 1x points on all other purchases.
• Deluxe CorporationminorOthersWinter Hill Bank provides a link to Deluxe Corporation for check ordering services. Customers can order checks online through the Deluxe platform.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Brookline Bank: Massachusetts-based community bank offering consumer, mortgage, and small business banking across Greater Boston. Comparable deposit and lending product suite serving overlapping Eastern Massachusetts demographics.
• Salem Five Bank: Massachusetts-based mutual savings bank offering consumer, mortgage, and commercial lending across Eastern Mass and Southern New Hampshire. Comparable mutual charter and full-service community banking model.
• Cambridge Savings Bank: Massachusetts-chartered mutual savings bank serving the Greater Boston/Cambridge area with consumer and small business banking, mortgages, and digital channels. Direct competitor in the same Eastern Massachusetts geography with a comparable mutual-style community focus.
• Reading Cooperative Bank: Mutual cooperative bank headquartered in Reading, MA serving the North Shore and Greater Boston with consumer and business banking. Direct competitor in the North Reading catchment and comparable mutual cooperative model.
• Rockland Trust (Independent Bank Corp): Massachusetts-headquartered community bank with the largest branch network in Eastern Mass, offering full consumer, mortgage, and business banking. Closest scaled analog and primary acquisition-style peer for Winter Hill Bank.
• East Cambridge Savings Bank: Mutual savings bank headquartered in Cambridge, MA offering consumer and business banking, mortgages, and digital banking across Eastern Massachusetts. Operates in adjacent Cambridge/Somerville corridor with nearly identical product set.
• Middlesex Savings Bank: Mutual savings bank serving Middlesex County and surrounding Eastern Massachusetts with consumer, mortgage, and small business banking. Similar mutual structure and community-bank value proposition with overlapping customer profiles.

Broad incumbents

• Eastern Bank: Largest community bank in Massachusetts with broad consumer, wealth, and commercial banking services. Larger incumbent operating in the same Eastern Massachusetts footprint with overlapping deposit and lending products.
• Citizens Bank: Large regional bank with a dense Massachusetts branch network and full consumer/commercial product suite. Sets the competitive pricing baseline in Eastern Massachusetts deposits and mortgages.

Emerging players

• Ally Bank: Digital-first direct bank offering high-yield savings, CDs, and consumer lending with no physical branches. Represents the rising competitive threat to community banks on deposit pricing and younger demographics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Winter Hill Bank