Considering hiding your money in a sensible place? Well, Gorham Savings Bank may be the local, friendly crime-fighter your money has always dreamed of. Let’s make (the) cents (of) it all, one not-so-simple word at a time!
If you want to keep your money safe, earn some interest on your savings, or borrow money, you have to have a bank you can trust. Gorham Savings Bank is among them.
It is a local bank that has been helping people for many years. We will discuss Gorham Savings Bank in the simplest way possible so that the general public can understand.
We’ll tell you what this bank does, how it serves people, how to open an account, how to use online banking, and so much more.
What is Gorham Savings Bank?
This is a mutual savings bank. That’s not nothing (it only sounds like nothing). What that means is that it is small, relative to big national banks, but that it really cares about its home community and the people who live there.
It was established in 1868 and has its headquarters in Maine. This bank is serving individual people and small businesses with needs of money. They provide all the traditional financial services, such as:
- Checking accounts
- Savings accounts
- Credit cards
- Loans (car, home, business, etc.)
- Online and mobile banking
Gorham Savings Bank is a mutual bank; that is to say, it is not owned by stockholders. Instead, it is controlled by its customers. Instead of trying to make rich investors richer, the bank is working hard to keep its customers happy.
Why Choose a Community Bank?
Local banks like Gorham Savings Bank are small — smaller than big banks — but they often treat you better as a customer. They know the names of their customers. You go into a branch, and people are smiling and saying hello. You are not just a number.
Oh, and they get back to the community. That they support local schools, charities, and small businesses. You are banking on your own town by banking in them.
Opening an Account at Gorham Savings Bank
Want to open an account? It’s easy! You just have to
- Stop in to a Gorham Savings Bank office or hop onto their website.
- Select whether you want an account (checking, savings, or both).
- Show your I.D. and hand over your information.
- Put in some money with which to start the account.
That’s it. Now you have a safe space to save your money!
Checking Accounts at Gorham Savings Bank
Checking accounts are ideal for spending on a day-to-day basis. You may use a debit card, write checks, or pay bills online. What types of checking accounts does Gorham Savings Bank offer?
Some have no monthly fee. Some pay you interest (additional money that gets added to your balance). Some are ideal for students or the elderly.
Savings accounts allow you to multiply your money over time. You receive interest on the money you save. On that scale, the more time passes with more money in the account, the more it grows.
For online and mobile banking, it is not always necessary to go to a branch. Here’s what you can do with your computer or phone:
- Check your balance
- Transfer money
- Pay bills
- DONATION (Sponsored) Use your phone to deposit checks
The bank has an intuitive mobile app. It enables you to stay on top of your money from wherever you are. If you own a small business, Gorham Savings Bank is here for you. They offer:
- Business checking and savings
- Loans to start or expand a business
- Assistance with payroll and paying bills
And they get small business because they are a small bank. They want local businesses to thrive.
Home Loans and Mortgages
Want to buy a house? Gorham Savings Bank can help you secure a mortgage. A mortgage is a loan that enables you to cover the cost of a home. You pay the bank off over time, month by month.
They specialize in a variety of home loans. Are they fixed or variable rates? Some have a fixed interest rate, while others fluctuate. Bank personnel can assist you in choosing the appropriate one.
Need a car? The bank offers auto loans. You take out a loan to purchase the car, and you repay it in monthly installments. Their rates are reasonable, and you can apply in person or online.
Credit Card Gorham Savings Bank offers its customers credit cards as well. A credit card offers you a means to borrow money to make purchases now and pay the money back later. And if you pay everything off in full each month, you pay no interest.
The bank offers excellent service. You can ask for help by phone, in a branch, or on its website. The staff is friendly and wants to solve your problems.
Safety and Security at Gorham Savings Bank
Is your money safe? Yes! Your money is insured by the F.D.I.C. That means that if the bank blows up or something bad happens at the bank, your money, up to $250,000, is safe.
Their online security is also robust. When their app or website is how you are using their service, your information and your money are secure.
Gorham Savings Bank loves its community. They donate money and time to schools, events, and charities. They underwrite local projects and the lives of nearby people. When you bank with them, you also bank for your community.
The bank has branches in southern Maine. They also offer ATMs you can use at no cost. And you can use other ATMs and receive fee refunds with some accounts.
How to Contact Them
Here is how to connect with Gorham Savings Bank:
- Visit a branch
- Call customer service
- Use their website
- Send a secure message on online banking
Not certain which account is right for you? If you’re a heavy ATM user, consider an account that allows free ATM access.
If you maintain a high level of savings, choose one that earns interest. Students or seniors might receive special perks, and bank employees can also help you choose.
How to Change Your Account to Gorham Savings Bank
If you already have a checking account elsewhere, it’s easy to switch:
- Open a new account with Gorham Savings Bank
- Move your money
- Update direct deposit and bill payments
- Close your old account
They even have a switch kit to guide you through the process.
Final Thoughts
For personal service, convenient banking tools and support for the community, Gorham Savings Bank is good anywhere you’re going. It’s a sure place to park your money if you’re saving for a rainy day or a new business.
They’ve been lending to Mainers since 1868, and they’re continuing to do so today. If you desire a bank that seems more like family, then Gorham Savings Bank may be for you.
