Community Savings Bancorp

What Community Savings Bancorp does

Community Savings Bancorp, operating as Community Savings and My Community Savings, is a privately held, state-chartered FDIC-member bank headquartered in Caldwell, Ohio, founded in 1885. The company operates a single retail branch supported by a digital banking platform and serves four distinct customer cohorts: (1) retail consumers in the Noble County, Ohio catchment, (2) wholesale third-party originator (TPO) mortgage brokers across 15 states for whom it originates Non-QM products including Community Alt-Doc (up to $2.5M, FICO 660+) and ITIN mortgages, (3) small businesses via business checking, business savings (3.80% APY), business CDs, and business credit cards, and (4) institutional depositors through the Impact Deposit Program — a CRA-aligned deposit product for CDFI partners and community banks. In January 2025, Community Savings received CDFI certification from the U.S. Treasury, making it the only CDFI-certified bank in Ohio. The bank holds NMLS #812294.

The core technology stack is composed of third-party vendor platforms: Narmi powers digital account opening (which generated $2.5 million in deposits within the first month of go-live in March 2024), COCC provides core processing, and the MyVirtual Branch platform supports the online banking experience scheduled for a February 2026 upgrade. Retail product breadth includes four variants of MyChoice Checking, MyChoice Savings, High Yield Savings (3.75% APY), CDs/IRAs, money market accounts, MyChoice Mortgage, home equity loans, auto loans, and credit cards issued through TCM Bank as the BIN sponsor.

Revenue mechanics are dominated by net interest income from the deposit franchise and gain-on-sale fees from wholesale mortgage origination, supplemented by interchange on TCM Bank-issued credit cards and fee income from the institutional deposit program. The wholesale Non-QM origination business — distributed via the TPO channel and leveraging leadership's mortgage pedigree — is the largest revenue lever, while the CDFI certification and Impact Deposit Program provide a structurally low-cost funding base that supports net interest margin. The company does not disclose audited financial statements.

Name

Community Savings Bancorp

Legal name

Community Savings

Website

https://mycommunitysavings.com

Company type

Private

Founded year

1885

Operating status

Operating

Headcount range

11–50 employees

Short description

Community Savings Bancorp is a privately held, CDFI-certified community bank in Caldwell, Ohio, operating a single retail branch plus a digital platform, wholesale Non-QM mortgage lending across 15 states, and a CRA-aligned institutional Impact Deposit Program.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221)

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 industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking services
• Retail deposit accounts
• Non-QM mortgage lending
• Wholesale mortgage brokers
• ITIN mortgage loans

Headquarters

HQ city

Caldwell

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income (Retail Banking): Community Savings earns net interest income from the spread between interest earned on loans (mortgages, auto loans, home equity, credit cards) and interest paid on deposits (checking, savings, CDs, money market accounts). As a depository institution, this is the primary revenue driver.
2. Mortgage Lending Revenue: Revenue generated from originating mortgage loans including MyChoice Mortgages, home equity loans, and wholesale Non-QM mortgage programs. The bank operates both a retail mortgage channel and a wholesale/broker channel. Interest rate lock desk and loan origination fees contribute to revenue.
3. Credit Card Fees: Community Savings issues credit cards in partnership with TCM Bank, N.A. Revenue is generated through interchange fees on card transactions, annual fees, and interest charges on revolving balances. Cards include Visa Signature Travel, Platinum Visa (Rewards, Cash Rewards, Low Rate), and Secured Platinum Visa.
4. Wholesale Lending (Broker Channel): The wholesale division provides Non-QM mortgage products through approved broker partners. Revenue comes from loan origination fees, lock desk fees, and interest income on funded loans sold to investors. Serves mortgage brokers across 15 states.
5. Business Banking Revenue: Revenue from business checking, savings, CDs, and business credit cards. Business savings accounts earn 3.80% APY; business CDs range from 3.25% to 3.90% APY. Business credit cards issued through TCM Bank generate interchange and fee revenue.
6. Institutional Banking (Impact Deposit Program): Community Savings partners with other financial institutions seeking CRA credit through its Impact Deposit Program. Institutional partners deposit funds with Community Savings, which deploys capital into underserved communities. This generates deposit funding and partnership fees.

Pricing tiers

Go-to-market motion5 records

Distribution channels9 records

Marketing channels8 records

Core offering

Community Savings Bancorp is a privately held, state-chartered community bank headquartered in Caldwell, Ohio, operating since 1885. It provides retail and business deposit products (checking, savings, money market, CDs, IRAs), consumer and commercial loans (mortgages, home equity, auto, credit cards), and a wholesale non-QM mortgage channel serving approved brokers across 15 states, supported by digital banking, mobile app, and direct branch services.

Product overview

Community Savings Bancorp operates as a CDFI-certified community bank headquartered in Caldwell, Ohio, founded in 1885. Its product portfolio consists of three interconnected banking platforms: (1) Retail Banking — a full suite of deposit accounts including MyChoice Checking (four variants: standard, Elite, Business, and Student), MyChoice Savings, High Yield Savings (3.75% APY), MyChoice Super Savers, MyChoice Club Accounts, MyChoice CDs & IRAs, and Money Market accounts, plus lending products MyChoice Mortgage, MyChoice Home Equity, MyChoice Auto Loans, Personal Credit Cards, and Business Credit Cards; (2) Digital Banking — an online and mobile banking platform (including MyVirtual Branch) integrated with a Digital Wallet supporting Apple Pay, Google Pay, and Samsung Pay; and (3) Wholesale Lending — a non-QM mortgage channel for approved brokers featuring the Community Alt-Doc program and a Quick Pricer tool, with 15-state coverage. The bank also offers a Welcome Home Program providing FHLB Cincinnati grants up to $20,000 for eligible homebuyers.

Differentiator

Problem solved

Functional benefit

Products and services

• MyChoice Checking A free retail checking account with no monthly fees, no minimum balance, unlimited check writing, direct deposit, online and mobile banking, free box of checks, and a MyChoice Debit Card. Target customers are individual retail consumers.
• MyChoice Elite Checking An interest-bearing checking account with daily compounding, tiered APY based on balance ($1-$9,999: 0.15%; $20k+: 0.25%), free Community Savings ATM transactions, and unlimited check writing. Targets retail consumers seeking interest on deposits.
• MyChoice Business Checking A business checking account designed for small business owners with free coin and currency orders, free 24-hour telephone banking, free ACH debits and credits, overdraft protection services, and a $5 monthly fee waived at $500 balance.
• MyChoice Student Checking A checking account for students aged 13-26 with a $50 minimum opening deposit, free electronic statements, free debit card, and up to 10 foreign ATM transactions rebated monthly.
• MyChoice Savings A standard FDIC-insured savings account offering competitive interest rates and convenient access to funds for retail consumers.
• High Yield Savings A high-yield savings account offering 3.75% APY compounded daily and paid monthly, with no monthly maintenance fees, FDIC insurance up to $250,000, and no minimum balance required to earn APY. $25 minimum to open.
• MyChoice Super Savers A children's savings account with no monthly fees and a $1 minimum opening deposit, designed to teach kids financial responsibility with quarterly statements.
• MyChoice Club Accounts Savings accounts designed for specific recurring expenses, including a Christmas Club Account (automated holiday savings) and a Vacation Club Account (automated spring/summer travel savings).
• MyChoice CDs & IRAs Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs) including Traditional and Roth IRA options, with flexible terms (91-day to 60-month CDs at 1.00%-3.80% APY) and minimum opening balances as low as $1,000.
• Money Market Account A money market savings account requiring a $10,000 minimum opening deposit, earning a variable compounded rate credited monthly (tiers from 0.15% to 0.27% APY), with up to 6 debits per month and optional debit card access upon approval.
• MyChoice Mortgage Retail mortgage lending product offering flexible terms (15-year, 20-year, 30-year fixed), competitive rates, multiple payment options, and automatic payment scheduling for home purchases and refinancing.
• MyChoice Home Equity A home equity line of credit (HELOC) providing qualified applicants access to up to 80% of their home's equity with low fees and flexible draw access.
• MyChoice Auto Loans Auto financing with competitive rates and flexible terms available for new and used vehicles, with loan specialists available by phone.
• Community Savings Personal Credit Cards A suite of personal credit cards issued through TCM Bank, N.A., including Visa Signature Travel (30,000 bonus points on $2,500 spend in 3 months; 1.5 points/dollar), Platinum Visa (1% cash back or 1 point/dollar), and Secured Platinum Visa for credit building.
• Community Savings Business Credit Cards Business credit cards issued through TCM Bank, N.A., offering flexible options with full reporting, employee cards at no extra cost, consolidated statements, mobile payments, fraud alerts, zero fraud liability, and travel accident insurance.
• Wholesale Non-QM Mortgage Lending A wholesale non-QM (non-qualified mortgage) lending channel for approved mortgage brokers and real estate professionals, offering specialized loan programs for non-traditional borrowers including the Community Alt-Doc program (loan amounts up to $2.5 million, minimum FICO 660), an Investment Property Alt-Doc program, and ITIN borrower support. Operates across 15 states.
• Business Savings & CDs Business deposit products including Business Savings (3.80% APY, $1 minimum to open, no monthly fees) and Business CDs (3-month 3.25% APY through 24-month 3.00% APY, $1,000 minimum).
• Wholesale Quick Pricer A web-based rate and term pricing tool for licensed mortgage and real estate professionals to generate loan pricing scenarios across Community Savings' non-QM wholesale product offerings.
• Welcome Home Program A down payment and closing cost assistance program offered in partnership with the Federal Home Loan Bank of Cincinnati, providing grants of up to $20,000 for income-eligible homebuyers (at or below 80% of median income limits), with at least $500 buyer contribution and homeownership counseling required for first-time buyers.
• Online Banking Platform A 24/7 online banking platform providing account management, fund transfers, bill payment, e-statements, person-to-person transfers, and security features including multi-factor authentication. Launched as an upgraded platform in February 2026 following a system conversion.
• Mobile Banking App Mobile banking access via smartphone and tablet (iOS and Android apps) including balance checking, bill payment, fund transfers, 90-day transaction history, Person-to-Person transfers, Bank-to-Bank transfers, and ATM/branch locator via zip code search.
• Digital Wallet Support A contactless mobile payment platform supporting Apple Pay, Google Pay, and Samsung Pay, allowing tap-to-pay transactions using the Community Savings debit card at any contactless-enabled terminal globally.

Quantifiable outcome

• $2.5 million in new deposits captured in the first month following go-live of Narmi Consumer and Business Account Opening
• +4 more outcomes

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• NarmicoreTechnology or Integration · 6 March 2024Community Savings partnered with Narmi to launch Consumer Account Opening and Business Account Opening solutions, enabling fully digital account opening for the first time. The integration with Narmi through the COCC core includes automated KYC/KYB decisioning. Implementation took 49 days — Narmi's fastest. The first month drove $2.5 million in new deposits.
• COCCcoreTechnology or IntegrationCOCC is the core banking system provider powering Community Savings' digital banking infrastructure. Narmi integrates with COCC to deliver Consumer and Business Account Opening solutions.
• Federal Home Loan Bank of Cincinnati (FHLB Cincinnati)coreStrategic or Co-development PartnerCommunity Savings is a member institution of the Federal Home Loan Bank of Cincinnati, enabling it to offer the Welcome Home Program (WHP) — grants of up to $20,000 for down payment and closing costs to income-eligible homebuyers.
• TCM Bank, N.A.coreChannel Partner/ Reseller/ DistributorTCM Bank, N.A. issues Community Savings-branded credit cards including Visa Signature Travel, Platinum Visa (Rewards, Cash Rewards, Low Rate), and Secured Platinum Visa. This is a private-label card issuance arrangement.
• Framework HomeownershipminorStrategic or Co-development PartnerCommunity Savings directs prospective homebuyers to Framework Homeownership for homeownership education and counseling classes required for the Welcome Home Program grant (first-time homebuyers). Classes begin at $75.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Regional players

• Farmers National Bank: Ohio community bank where CEO John Gulas previously served as President & CEO of a $1.1B institution. Comparable to Community Savings in Ohio regional banking presence and retail/lending mix.
• Civista Bank: Ohio-based community bank (and former employer of Community Savings CFO John Betts). Comparable to Community Savings in Ohio community-banking footprint and product breadth, though significantly larger in scale.

Direct peers

• Sunrise Banks: CDFI-certified community bank offering high-yield savings, ITIN-friendly products, and institutional partnerships. Comparable to Community Savings in CDFI status, retail deposit focus, and social-impact mission.
• Angel Oak Mortgage Solutions: Leading Non-QM wholesale mortgage lender offering Alt-Doc, ITIN, and non-QM products to brokers. Directly comparable to Community Savings' wholesale Non-QM channel in target borrower and broker-distribution model.
• Beneficial State Bank: CDFI-certified community bank with a mission to serve underserved communities. Directly comparable to Community Savings because it shares the CDFI charter, mission-driven deposit programs, and focus on financing borrowers overlooked by mainstream banks.
• Pacific Union Financial: Mortgage lender also founded by Community Savings Chairman Evan Stone. Comparable because it shares the same Non-QM / non-traditional borrower origination focus and was sold to a larger institution after demonstrating the same underserved-borrower thesis Community Savings now pursues.
• First Independence Bank: CDFI-certified minority depository institution focused on underserved communities. Comparable to Community Savings in CDFI regulatory standing, mission-driven deposit and lending activities, and CRA partnership potential.
• Cardinal Financial: TPO wholesale mortgage lender with strong Non-QM and broker-channel focus. Comparable to Community Savings' wholesale operations — key hire Jeff Sherwood was previously SVP of Mortgage Operations at Cardinal Financial.
• Verus Mortgage Capital: Non-QM wholesale mortgage channel that partners with brokers to fund non-traditional borrowers. Comparable to Community Savings' wholesale lending division in product mix (Non-QM, Alt-Doc) and broker-channel distribution.
• Champions Funding: Non-QM wholesale TPO mortgage lender founded by Community Savings Chairman Evan M. Stone. Directly comparable because it shares both the founder and the Non-QM wholesale distribution model that Community Savings now operates in 15 states.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/CommunitySavingsCaldwell
• LinkedInlinkedin.com/company/community-savings---caldwell-ohio

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Community Savings Bancorp