Iron Workers Bank
Iron Workers Bank is a mutual savings bank founded in 1879, operating three branches in Delaware and Chester Counties, Pennsylvania. It serves retail consumers and small businesses with deposit accounts, mortgage and home equity lending, commercial loans, and digital banking services.
- Company typePrivate
- Founded1879
- HeadquartersAston, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Iron Workers Bank does
Iron Workers Bank is a mutual savings bank founded in 1879 in Chester, Pennsylvania, currently headquartered in Aston, PA and operating three branches across Delaware and Chester Counties (Aston, Media, and Chadds Ford). The institution serves retail consumers and small businesses with a full suite of conventional banking products: deposit accounts (checking, savings, money market, CDs, IRAs), retail lending (mortgages, home equity loans, home equity lines of credit), and commercial lending (commercial mortgages, term loans, commercial lines of credit). Fee-based services include wire transfers, safe deposit boxes, night depository, and direct deposit, while membership programs (Senior Club for customers 55+ and Flagship Club for $10K+ aggregate balances) provide fee waivers and loan-rate discounts.
The technology stack is a standard community banking platform: third-party-hosted online and mobile banking (with bill pay, e-statements, and check ordering), Zelle-based peer-to-peer payments integrated through Early Warning Services, mobile wallet support for Apple Pay, Google Pay, and Samsung Pay on Visa debit cards, and 24/7 telephone banking. No proprietary models, developer APIs, or AI-driven capabilities are disclosed. Marketing and customer acquisition are community-led, relying on the three-branch physical network, in-person teller service, local brand heritage, and a modest website/social media presence.
Revenue is generated primarily through net interest income on the deposit-to-loan spread (CDs, mortgages, commercial loans, home equity products), supplemented by transaction fees (wires, safe deposit box rentals, overdraft-related charges). The bank operates under a mutual charter with no external shareholders, no disclosed funding rounds, and no M&A or partnership activity beyond the Zelle integration. Revenue, asset size, and employee count beyond the 11-50 range are not publicly disclosed.
Iron Workers Bank firmographics
Firmographics- Name
- Iron Workers Bank
- Legal name
- Iron Workers Bank
- Website
- https://iwsb.com
- Company type
- Private
- Founded year
- 1879
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Iron Workers Bank is a mutual savings bank founded in 1879, operating three branches in Delaware and Chester Counties, Pennsylvania. It serves retail consumers and small businesses with deposit accounts, mortgage and home equity lending, commercial loans, and digital banking services.
- Ownership category
- akta.pro rank
Iron Workers Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)
Keywords
Where Iron Workers Bank is headquartered
LocationHeadquarters
- HQ city
- Aston
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Iron Workers 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
Revenue model
- Net Interest Income - Certificates of Deposit and IRAs: The bank accepts customer deposits (CDs from 91 days to 60 months, IRAs) and pays interest. The spread between interest earned on loans and interest paid on deposits constitutes core revenue.
- Net Interest Income - Business Loans: Interest income from commercial mortgages, term loans, and commercial lines of credit extended to small businesses. Interest rates may be fixed or variable (Prime Rate or Treasury Security Index).
- Net Interest Income - Home Loans and Home Equity: Mortgage lending revenue from new home purchases, refinancing, home equity loans, and home equity lines of credit. The bank finances up to 80% LTV on home equity products.
- Fee Income - Service Charges: Various fee-based services including wire transfers (Domestic $20, Foreign $60 outgoing), safe deposit box rentals ($30-$125/year), night depository, and overdraft protection services.
- NOW Checking Interest Income: Interest credited monthly on NOW Checking account balances of $600 or more, with variable rates compounded daily and credited monthly.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Certificates of Deposit: 91-Day to 60-Month terms |
| Subscription | Monthly | Money Market Accounts |
| Subscription | Monthly | Savings Accounts |
| Subscription | Monthly | Just Checking Account |
| Subscription | Monthly | NOW Checking Account |
| Subscription | Monthly | Mortgage Loans |
| Subscription | Monthly | Home Equity Loans |
| Usage-based | Monthly | Home Equity Line of Credit |
| Transaction based/ take rate | Pay-as-you-go | Wire Transfers |
| One time/ perpetual license | Annual | Safe Deposit Boxes |
| Subscription | Monthly | ATM and Debit Cards |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Iron Workers Bank product offering
Product offeringCore offering
Iron Workers Bank is a mutual savings bank that provides retail and small business banking products and services to consumers and businesses in Delaware and Chester Counties, Pennsylvania. Its core offerings include deposit products (checking, savings, money market, CDs, IRAs), consumer lending (mortgages, home equity loans and lines of credit), and small business banking (free business checking, commercial mortgages, term loans, commercial lines of credit). Banking services are delivered through three branch locations plus online, mobile, and 24/7 telephone banking channels.
Product overview
Iron Workers Bank is a community bank offering a unified suite of retail and small business banking products and services. The portfolio comprises deposit products (checking, savings, CDs, IRAs, money market accounts), lending products (commercial mortgages, term loans, commercial lines of credit, home mortgages, home equity loans and HELOCs), and banking services (online and telephone banking, debit/ATM cards, wire transfers, safe deposit boxes, night depository, direct deposit). Membership programs including Senior Club (age 55+) and Flagship Club ($10K+ aggregate balance) provide fee benefits and discounts on selected services. The bank integrates with Zelle for P2P payments and supports mobile wallets (Apple Pay, Google Pay, Samsung Pay) for debit card transactions.
Differentiator
Problem solved
Functional benefit
Products and services
- NOW Checking Account Interest-bearing checking account for individual consumers with variable rate compounded daily and credited monthly on balances of $600 or more. No monthly service charge when balance is maintained.
- Just Checking Basic checking account for individual consumers, free for the first 12 months with a $250 minimum balance requirement thereafter.
- Money Market Account Tiered savings account for consumers offering higher rates for higher balances, with a $10,000 minimum opening balance.
- Passbook Savings Account Savings account for consumers with a permanent passbook record of activity. $10 minimum to open; interest earned on balances of $100 or more, compounded daily and posted June and December.
- Statement Savings Account Regular savings account for consumers with $100 minimum opening. Interest compounds daily with monthly statements. Can be linked to checking for overdraft protection.
- Christmas Club Seasonal savings program for consumers targeting holiday expenses. Weekly deposits accumulate over 50 weeks with payout at program end.
- Certificates of Deposit (CDs) Fixed-term deposits for consumers with 9 term options ranging from 91 days to 60 months. Minimum deposits from $250 to $2,500 depending on term.
- Individual Retirement Accounts (IRAs) Retirement savings accounts with the same term options as CDs, allowing tax-advantaged savings accumulation for consumers.
- Mortgage Lending Financing for home purchases, refinancing, and investment properties for consumers. Covers 1-4 family homes and condominiums with escrow services for taxes and insurance.
- Home Equity Loans Closed-end loans for consumers financing up to 80% of appraised home value including first mortgage. Terms range from 3 to 25 years.
- Home Equity Line of Credit Revolving credit line for consumers financing up to 80% of home appraised value including first mortgage. Terms up to 20 years with easy access to funds as needed.
- Free Business Checking Fee-free business checking account for small businesses with no minimum balance requirement, no monthly service charge, unlimited check writing, and overdraft protection.
- Business Statement Savings Savings account for business customers with monthly statements and internet access. Requires $100 minimum balance to avoid service charge.
- Commercial Mortgages Real estate financing for small businesses including purchases, improvements, and refinances. Features flexible terms with fixed or adjustable interest rates.
- Term Loans Business loans for small businesses covering working capital, equipment acquisition, and growth financing. Available with floating and fixed rates for up to seven years.
- Commercial Line of Credit Revolving credit line for small businesses to manage business cycles and growth opportunities. Accessible via check or telephone for overdraft protection and short-term financing needs.
- Online Banking 24-hour digital banking platform for consumers and businesses providing account access, bill payment, transfers between IWB accounts, statement viewing, loan information, check ordering, and Zelle peer-to-peer payments.
- Telephone Banking 24/7 automated telephone banking service (1-855-IWB-24X7) for account balance inquiries, history review, and free transfers between IWB accounts.
- Visa Debit Cards Visa-branded debit card for consumers with point-of-sale transactions and ATM withdrawals with instant account deduction.
- ATM Cards Free ATM access card available with Checking and Statement Savings accounts for ATM withdrawals and point-of-sale purchases.
- Wire Transfers Electronic fund transfer service with domestic outgoing wires at $20 and foreign outgoing wires at $60; incoming wires are free.
- Safe Deposit Boxes Annual rental of secure storage boxes in seven sizes ranging from 2\"x5\" to 10\"x10\", priced from $30 to $125 per year.
- Direct Deposit Free electronic deposit service for automatic receipt of funds including payroll and Social Security deposits.
- Night Depository Secured after-hours deposit service for business customers using a locked vault opened daily by two employees.
- Senior Club Membership club for consumers aged 55 and older offering free ATM card, 125 free checks per year, and free Just Checking or discounted NOW Checking.
- Flagship Club Premium membership program for consumers with $10,000+ aggregate balance, including free wire transfers, ATM access, safe deposit box (up to $35), notary services, 200 checks per year, and 0.5% discount on unsecured loans.
Companies that use Iron Workers Bank
Customer profileSegments4 records
Ideal customer profiles4 records
Iron Workers Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature3 records
Iron Workers Bank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Early Warning Services, LLC (Zelle)coreIron Workers Bank integrates Zelle, a peer-to-peer payment service owned by Early Warning Services, LLC, within its online banking platform. Zelle enables customers to send money fast using email or mobile phone number directly between bank accounts, typically within minutes. The service is available through the bank's bill pay system.
Scale indicators2 records
Recent moves5 records
Expansion highlights4 records
Iron Workers Bank competitors and assessment
Company assessmentDirect peers
- QNB Bank: Quakertown, PA-based community bank offering retail deposits, mortgages, and small-business lending across suburban Philadelphia and Bucks County — directly comparable to Iron Workers Bank in charter, product mix, and southeastern Pennsylvania community-bank positioning.
- Phoenixville Federal Bank & Trust: Mutual savings bank headquartered in Phoenixville, PA serving Chester and Montgomery Counties — closest structural and geographic comparable as another mutual community bank operating adjacent to Iron Workers Bank's footprint.
- First Keystone Community Bank: Pennsylvania-chartered community bank delivering retail and small-business banking across central and northeastern PA — comparable in community-bank business model, deposit products, and commercial lending focus.
- Univest Bank and Trust Co. PA-headquartered community bank serving southeastern Pennsylvania with retail deposits, mortgages, and commercial lending — directly comparable geographic overlap and product suite to Iron Workers Bank.
- S&T Bank: Indiana, PA-based community bank with full retail and commercial banking offering across western and central Pennsylvania — comparable community-bank model and product breadth, with broader geographic reach.
- Penn Community Bank: Mutual savings bank serving Bucks, Montgomery, Chester, and Delaware Counties in Pennsylvania — directly comparable mutual charter, community focus, and overlapping southeastern PA footprint.
Regional players
- Dime Bank: Northeast Pennsylvania community bank offering retail and small-business banking — comparable community-bank model with a different primary geography, useful as a peer reference for mutual/community-bank economics.
Broad incumbents
- Customers Bank: PA-headquartered commercial bank with retail and small-business deposit operations across the Mid-Atlantic — broader incumbent competitor serving many of the same small-business and consumer segments in southeastern PA.
- Fulton Bank: Lancaster, PA-based regional bank with extensive branch network across southeastern and central Pennsylvania — broader incumbent competitor that overlaps with Iron Workers Bank's retail and small-business segments.
- Citizens (Citizens Financial Group): Large regional bank with significant branch presence across Pennsylvania and the greater Philadelphia area — broader incumbent competing for the same retail deposits, mortgages, and small-business relationships that Iron Workers Bank targets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Iron Workers Bank compliance and trust
Trust signalCompliance2 records
Iron Workers Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Iron Workers Bank leadership team
Management profileNumber of profiles
Iron Workers Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Iron Workers 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 Iron Workers Bank
What does Iron Workers Bank do?
Iron Workers Bank is a mutual savings bank that provides retail and small business banking products and services to consumers and businesses in Delaware and Chester Counties, Pennsylvania. Its core offerings include deposit products (checking, savings, money market, CDs, IRAs), consumer lending (mortgages, home equity loans and lines of credit), and small business banking (free business checking, commercial mortgages, term loans, commercial lines of credit). Banking services are delivered through three branch locations plus online, mobile, and 24/7 telephone banking channels.
Is Iron Workers Bank a public or private company?
Iron Workers Bank is a private company. It is classified as management employee owned and is currently operating.
When was Iron Workers Bank founded?
Iron Workers Bank was founded in 1879. It employs 11 to 50 people.
Where is Iron Workers Bank based?
Iron Workers Bank is headquartered in Aston, United States, in the North America region.
How does Iron Workers Bank make money?
Five revenue lines are on record. Net Interest Income - Certificates of Deposit and IRAs are the primary driver. The others are net Interest Income - Business Loans, net Interest Income - Home Loans and Home Equity, fee Income - Service Charges and NOW Checking Interest Income.
Who are Iron Workers Bank's main competitors?
Direct peers on record are QNB Bank, Phoenixville Federal Bank & Trust, First Keystone Community Bank, Univest Bank and Trust Co., S&T Bank and Penn Community Bank. Dime Bank is listed as a regional player. Broad incumbents are Customers Bank, Fulton Bank and Citizens (Citizens Financial Group).
Does Iron Workers Bank have an API?
No public API is recorded for Iron Workers Bank.
What industry is Iron Workers Bank in?
Iron Workers Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAE, Branch & In-Person Banking (Teller/ATM Networks). Its NAICS code is 522180 and its SIC code is 6036.