Collinsville Bank

What Collinsville Bank does

Collinsville Bank operates under the legal name Northwest Community Bank, a Connecticut-chartered mutual savings bank organized in 2016 under the Connecticut Mutual Holding Company, which owns it through a mutual (depositor/borrower-owned) holding company structure. The firm is a hyperlocal, three-branch community bank with retail locations in Canton, Winsted, and Litchfield, Connecticut, serving individual consumers, small-to-medium businesses, and non-profit organizations in Litchfield County and surrounding markets. Its product portfolio spans personal and business checking and savings, CDs, money market accounts, IRAs, residential mortgages, home equity loans, auto and personal loans, credit cards (issued through Elan Financial Services), health savings accounts, merchant services, treasury management, business retirement services, and financial planning advisory. The technology layer combines branch-based personal service with a digital banking stack — a free mobile app, online banking portals for personal and business customers, 24/7 telephone banking, Zelle for P2P payments (licensed from Early Warning Services, LLC), a Visa contactless debit card with MasterCard Secure Code protection, and text-based real-time fraud alerts — though the underlying core banking and card-processing infrastructure is operated by third-party partners rather than built in-house.

Revenue is generated primarily through net interest income on deposits and loans (mortgages, home equity, auto, personal, and business lending), supplemented by deposit account fees, transaction-based fees from merchant services and credit card programs (via Elan), and financial planning advisory fees. The go-to-market motion is direct-to-consumer and direct-to-SMB within a single-state (Connecticut) geographic footprint, supported by a community-focused marketing program across Facebook, LinkedIn, Instagram, and local event sponsorships. Growth is funded internally under the mutual structure — no equity funding, no public listing, no institutional capital — and customer growth is driven by local relationships, referrals, and community engagement through the affiliated Northwest Community Bank Foundation, Inc.

Name

Collinsville Bank

Legal name

Northwest Community Bank

Website

https://collinsvillebank.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Northwest Community Bank (Collinsville Bank) is a Connecticut mutual savings bank operating three branches in Canton, Winsted, and Litchfield under the Connecticut Mutual Holding Company, serving local consumers, small-to-medium businesses, and non-profits with deposits, mortgages, consumer loans, credit cards, merchant services, treasury management, and digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

akta.pro secondary industry

Bank-Affiliated Retail Wealth Management (FSAAAAAB)

Keywords

• Community banking
• Personal banking
• Business banking
• Mortgage lending
• Deposit accounts

Headquarters

HQ city

Collinsville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Lending: Traditional community bank revenue from interest on mortgage loans, home equity loans, auto loans, personal loans, and business lending products. Offers competitive rates on various loan products including mortgages as low as stated percentages.
2. Deposit Account Fees and Services: Revenue from checking accounts, savings accounts, CDs, Money Markets, and IRAs with various fee structures and competitive rates
3. Business Banking Services: Business checking, savings, credit cards, merchant services, and treasury management solutions for business customers
4. Credit Card Revenue: Personal and business credit card programs through Elan Financial Services partnership
5. Financial Planning Services: Investment and financial planning advisory services for short- and long-term goals

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Collinsville Bank (DBA Northwest Community Bank) is a mutual community bank offering personal and business banking products including checking, savings, CDs, money market accounts, IRAs, mortgages, home equity loans, auto and personal loans, credit cards, and health savings accounts. Services extend to merchant services, treasury management, business lending, financial planning, and digital banking via mobile app and online channels, supported by Zelle payments, contactless debit cards, and real-time fraud alerts.

Product overview

Northwest Community Bank offers a comprehensive suite of banking products and services through a platform-plus-modules architecture. The core banking offerings include personal and business checking and savings accounts, CDs, IRAs, money market accounts, mortgages, home equity loans, personal and business credit cards, auto loans, and health savings accounts. Digital banking capabilities are delivered through a mobile banking app and online banking platforms for both personal and business customers. Payment services include Zelle for person-to-person transfers and merchant services for business payment processing. The bank also provides financial planning advisory services, treasury management for businesses, and fraud protection including real-time text alerts and MasterCard Secure Code. The product portfolio is designed to serve both individual consumers and business customers from small family-owned businesses to non-profit organizations.

Differentiator

Problem solved

Functional benefit

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Elan Financial ServicescoreTechnology or IntegrationPartnership with Elan Financial Services for credit card products including personal and business credit cards. Elan provides the underlying credit card infrastructure and processing while Northwest Community Bank offers the cards to its customers under its brand.
• Early Warning Services, LLCcoreTechnology or IntegrationLicensed partnership to offer Zelle peer-to-peer payment service. Zelle and related marks are owned by Early Warning Services, LLC. Both parties need eligible checking or savings accounts for transactions.
• MasterCardcoreTechnology or IntegrationPartnership for debit card processing including MasterCard Secure Code fraud protection and contactless tap-and-go payment functionality.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Salisbury Bank: Community bank operating across northwest Connecticut, upstate New York, and western Massachusetts with consumer and small business banking; overlapping geography with Northwest Community Bank and a similar product set.
• SI Bank & Trust (Savings Institute): Connecticut community bank with full personal and business deposit and lending products plus digital channels; comparable mid-sized community bank serving eastern CT markets.
• Thomaston Savings Bank: Mutual savings bank chartered in Connecticut with a similar branch footprint and product mix spanning deposits, consumer lending, mortgages, and business banking; structurally and geographically the closest comparable to Northwest Community Bank.
• Chelsea Groton Bank: Connecticut mutual community bank serving retail and small business customers through branches and digital channels; competes head-to-head for households and SMBs in eastern CT and shares the mutual-bank operating model.
• Dime Bank: Connecticut-based mutual community bank serving consumers and small businesses through a regional branch network; similar deposit-driven funding and community-bank product breadth.
• Torrington Savings Bank: Mutual community bank headquartered in Torrington, CT, just outside Northwest Community Bank's Litchfield County territory; directly comparable in scale, deposit mix, and consumer/business lending focus.
• Essex Savings Bank: Connecticut-based mutual savings institution focused on Lower Connecticut River Valley consumers and small businesses; comparable scale, deposit-led funding, and personal-service value proposition.

Broad incumbents

• Webster Bank: Connecticut-headquartered commercial and consumer bank with broader digital capabilities and a statewide footprint; the most relevant larger in-market competitor for both deposit and business banking share.
• Berkshire Bank: Larger New England regional bank with retail, business banking, and wealth management, overlapping with Northwest Community Bank in parts of northwest CT; competes with broader capabilities and a wider footprint.

Regional players

• Putnam Bank: Connecticut-based community bank focused on retail and small business banking in the Quiet Corner region; similar deposit and consumer lending profile but geographically adjacent rather than directly overlapping.

Market position

Strengths5 records

Weaknesses6 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/collinsvillebank
• LinkedInlinkedin.com/company/collinsville-bank
• Instagraminstagram.com/nwcommunitybank

Revenue estimate

Valuation estimate

Number of profiles

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 Collinsville Bank