Sawyer Savings Bank

Name

Sawyer Savings Bank

Legal name

Sawyer Savings Bank

Website

https://sawyersavings.bank

Company type

Private

Founded year

1871

Operating status

Operating

Headcount range

11–50 employees

Short description

Sawyer Savings Bank is a mutual community bank founded in 1871, serving Hudson Valley consumers and small businesses through four branches with personal banking, mortgages, business lending, and Fiserv-powered digital banking services.

Ownership category

akta.pro rank

Product category

Retail 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

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

Keywords

• Community banking services
• Personal savings accounts
• Mortgage lending programs
• Commercial loan services
• Digital banking platforms

Headquarters

HQ city

Saugerties

HQ country

United States

HQ region

North America

Offices4 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: Primary revenue stream from interest earned on residential mortgages, commercial loans, business loans, home equity loans, and consumer installment loans. Includes first-time home buyer programs and commercial lending for local businesses.
2. Deposit Services: Fees from checking accounts, savings accounts, money market accounts, CDs, IRAs, and HSAs. Revenue from overdraft fees, ATM fees, and account maintenance.
3. Electronic Banking Services: Revenue from debit card transactions, digital payment services (Zelle), and card-related fees including the SSB Smart Card premium features.
4. Overdraft Programs: Fees from overdraft privilege program, enhanced overdraft protection, savings overdraft transfers ($5/item), and line of credit activation for overdraft coverage.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Sawyer Savings Bank operates as a mutual community savings bank offering personal and business depository products (personal and business checking, savings, money market accounts, CDs, IRAs, HSAs), residential mortgage lending including a First-Time Home Buyer Program with 100% financing, commercial and small business lending, and electronic banking services through mobile apps, online banking, the SSB Smart Card, Zelle, and digital wallets. Revenue is generated primarily through interest income on loans and fee-based deposit, overdraft, and electronic banking services across four Hudson Valley branch locations.

Product overview

Sawyer Savings Bank offers a unified community banking platform centered around traditional deposit and lending products with integrated digital banking capabilities. The core portfolio includes personal and business checking/savings accounts, CDs, IRAs, HSAs, residential mortgages (including first-time homebuyer programs), and commercial/small business lending. Digital banking services are delivered through Online & Mobile Banking as the primary digital channel, supplemented by specialized modules including the SSB Smart Card (powered by Fiserv), Digital Wallet integrations (Apple Pay/Google Pay/Samsung Pay), Zelle peer-to-peer payments, CardValet card management, and uChoose Rewards. All products are accessible across four branch locations in the Hudson Valley (Saugerties, Highland, Marlboro, and New Paltz) with consistent service delivery through both physical branches and digital channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Free personal checking account products for individual customers with no monthly maintenance fees, free online banking, and free bill pay, designed for everyday personal banking needs.
• Savings and Money Markets Savings accounts and money market deposit accounts offering competitive interest rates for personal customers to grow deposits.
• CD, IRA and HSA Certificates of Deposit (CDs), Individual Retirement Accounts (IRAs), and Health Savings Accounts (HSAs) for retirement and healthcare savings needs.
• Online & Mobile Banking (Personal) Digital banking platform enabling personal customers to access accounts, transfer funds, pay bills, deposit checks via mobile capture, and manage finances through iOS/Android apps and web-based online banking.
• Business Checking Free business checking accounts for business customers including merchant services, remote deposit capture, and business-focused banking tools, with no monthly maintenance fees.
• Business Lending Commercial and small business loan products including equipment financing, working capital loans, commercial real estate lending, and end-of-year commercial installment loan specials (rates as low as 6.75%, up to 100% financing).
• Residential Lending Residential home mortgage products including conventional mortgages, first-time homebuyer programs with 100% financing, and home equity loans and lines of credit.
• First-Time Home Buyer Program Dedicated first-time homebuyer program offering 100% financing to qualifying buyers, positioning the bank as 'THE First-Time Home Buyer Bank with 100% Financing' in the Hudson Valley.
• SSB Smart Card Mobile card management application powered by Fiserv that allows users to control debit cards, turn cards on/off, set transaction controls, spending limits, merchant category restrictions, geographic limits, and receive real-time fraud alerts.
• CardValet Mobile card management application allowing cardholders to monitor accounts, turn cards on/off, establish spending limits, set merchant category restrictions and geographic limits, and receive real-time transaction alerts.
• Zelle Peer-to-peer payment service integrated with online and mobile banking enabling customers to send and receive money directly between bank accounts.
• Digital Wallet (Apple Pay / Google Pay / Samsung Pay) Digital wallet integrations allowing customers to use their Sawyer Savings Bank debit card for contactless payments at checkout in stores, online, and in-app purchases via Apple Pay, Google Pay, or Samsung Pay.
• ATM/Debit Cards Debit card services including EMV chip cards (launched November 2016), surcharge-free ATM access through the Allpoint network, and card replacement services.
• Overdraft Options Four overdraft protection offerings including Savings Overdraft transfer ($5.00/item, up to 6 per month), Overdraft Line of Credit (revolving, $500 minimum in $100 increments, $10.00 minimum monthly payment), Overdraft Privilege Program ($800 Personal / $1,500 Business coverage), and Enhanced Overdraft Privilege (with consumer opt-in for ATM/debit card coverage).
• uChoose Rewards Program Rewards program integrated with debit cards allowing cardholders to earn points on purchases that can be redeemed for a variety of rewards.
• Credit Sense Credit monitoring and awareness tool integrated with electronic banking to help customers track and understand their credit information.
• Online Banking & Free Bill Pay Web-based online banking platform with free bill payment service enabling customers to pay bills, transfer funds, and manage accounts through the website.
• E-Statements Electronic statement delivery service providing paperless access to account statements through online banking.
• Telephone Banking 24-hour telephone banking service at 888-772-1871 allowing customers to access accounts, transfer funds, and perform basic banking functions by phone.
• SSB Biz Mobile App Business banking mobile application with advanced features for commercial accounts, supporting business customers' on-the-go account management.

Quantifiable outcome

• 100% financing available for first-time home buyers
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Central Hudson - Back to Business Funding ProgramcoreStrategic or Co-development Partner · 28 May 2020Sawyer Savings Bank serves as a community banking partner for Central Hudson's Back to Business funding program. The program commits up to $1 million in economic development support, providing local small businesses with grants to help pay down new working capital loans taken with participating local banks. Intended to assist small businesses in continuing operations or reopening during the economic recovery period.
• FiservcoreTechnology or IntegrationFiserv powers the SSB Smart Card mobile application, providing card management technology that allows users to control credit/debit cards through their mobile device. Services include turning cards on/off, transaction controls, spending limits, merchant categories, geographic location restrictions, and fraud alerts.
• Allpoint NetworkminorChannel Partner/ Reseller/ DistributorAllpoint provides surcharge-free ATM access to Sawyer Savings Bank customers through their nationwide network of ATMs. Customers can find surcharge-free ATMs using the Allpoint locator.
• Rural Ulster Preservation Company (RUPCO)minorStrategic or Co-development PartnerSawyer Savings Bank refers first-time home buyers to RUPCO for home buying education, counseling, and preparation programs. RUPCO offers classes covering credit repair, budgeting, and saving to help prepare prospective homebuyers for homeownership.
• Ulster County Regional Chamber of CommerceminorGTM or Marketing PartnerSawyer Savings Bank participates in Chamber events including the Buy Local Expo, connecting with local businesses and community members. Jenn Gutheil-Denier serves on the Chamber's Executive Board as Treasurer.

Scale indicators4 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Ulster Savings Bank: Mutual savings bank headquartered in Kingston, NY, directly serving the Hudson Valley with consumer deposits, mortgages, and commercial lending — the closest apples-to-apples comparable to Sawyer Savings Bank in geography, charter type, and product mix.
• Catskill Hudson Bank: Community bank headquartered in Sullivan County serving the Hudson Valley/Catskills region with personal, business, and mortgage banking. Overlaps directly with Sawyer's Hudson Valley footprint and product set.
• Rhinebeck Bank: Hudson Valley community bank offering personal and business banking, mortgages, and digital services across the same geography as Sawyer. Closely comparable target market and product offering.
• Walden Savings Bank: Mutual savings bank chartered in New York, providing deposit and lending products to consumers and small businesses. Highly comparable on charter type (mutual), product mix, and community-bank positioning.
• Tompkins Community Bank: Community bank serving upstate New York and the Hudson Valley with consumer, mortgage, and commercial banking products. Comparable community-bank model with broader but overlapping regional presence.
• Hudson Valley Federal Credit Union: Member-owned, not-for-profit credit union serving the Hudson Valley with deposits, lending, and digital banking. Competes for the same consumer and small-business relationship set as Sawyer via cooperative/mutual-style economics.

Broad incumbents

• Community Bank N.A. Large Upstate New York and mid-Atlantic community bank (formed via merger of Community Bank System and several thrifts) with extensive branch coverage including the Hudson Valley. Overlaps with Sawyer on consumer, mortgage, and SMB banking but at much greater scale.
• M&T Bank: Large regional bank headquartered in Buffalo with deep Hudson Valley retail-banking presence. Competes for Sawyer's consumer, mortgage, and small-business relationships with materially greater scale and product breadth.
• KeyBank: Large regional bank with Upstate New York and Hudson Valley branches offering full personal, mortgage, and commercial banking products. Comparable product categories but at substantially larger scale and distribution.
• Bethpage Federal Credit Union: Large New York State member-owned credit union offering consumer deposits, mortgages, and business banking. Comparable member-owned structure and product set, but at materially greater scale and geographic reach than Sawyer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/sawyersavingsbank
• Instagraminstagram.com/sawyersavingsbank
• Xx.com/sawyersavings
• LinkedInlinkedin.com/company/sawyer-savings-bank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Sawyer Savings Bank