Banking Northeast, Issue 2, 2022

ISSUE 2, 2022

PREPARE for

Deposit Fights

Matching Marketing To Objectives People Making Moves >>> A P U B L IC AT IO N O F AM E R IC A N B U S IN ES S ME DIA

INSIDE:

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ISSUE 2, 2022

FRONT COVER

PREPARE for

Deposit Fights

Matching Marketing To Objectives People Making Moves >>> A P U B L IC AT IO N O F A ME R IC A N B U S IN E S S M E D I A

INSIDE:

ICS and CDARS are now called ®

®

CDARS and ICS deposit solutions are now IntraFi® Network Deposits .

SM

And all of our funding products are called IntraFi Funding .

SM

IntraFi Network Deposits can help your institution manage its balance sheet and provide its customers with access to millions in FDIC insurance.

And, we still offer our full range of wholesale funding solutions. IntraFi Funding offers flexible funding solutions to help banks of all sizes meet planned or unexpected needs, regardless of their liquidity position.

Same great products.

New names.

IntraFi.com Use of IntraFi Network Deposits and IntraFi Funding are subject to the terms, conditions, and disclosures set forth in the applicable program agreements, including the IntraFi Participating Institution Agreement. Network Deposits, IntraFi Funding, and the IntraFi hexagon are service marks and IntraFi, ICS, and CDARS are registered service marks, of IntraFi Network LLC.

Bankers Pessimistic About The Next Year

By ST EVE G O O D E , Staff Writer, Banking Northeast Magazine

B

ankers are not feeling good about the next year.

According to a survey released by IntraFi Network, 46% of bank executives now predict overall economic conditions for banks will worsen over the next 12 months—a jump of 32 points from the first quarter of 2021. The survey found 82% also expect their funding costs to be moderately or significantly higher during the next year, an increase of 54 percentage points from the same point last year earlier. Similarly, those that expect deposit competition to increase jumped 32 points to 60% during the same time period.

“Bankers are rightly worried about the impact that rising inflation and higher interest rates are going to have on the economy,” Mark Jacobsen, the cofounder and CEO of IntraFi Network, said. “The situation has changed markedly since a quarter ago.”

They’re not too optimistic about the

Federal Reserve’s chances of bringing the economy in for a soft landing either.

According to the survey, 52% believe the central bank is in danger of raising rates too fast and too high, while 21% said the Fed will not raise rates fast enough. The survey, which queried CEOs, presidents, and CFOs at 422 unique banks across the country, was in the field in early to mid-April, after the Fed raised rates by a quarter percentage point at its March meeting, but before it enacted a half percentage point increase in early May. As a result, many bankers are likely to begin raising deposit rates.

Nearly 40% of respondents said they would begin raising their deposit rates once the Fed hiked the federal funds target rate by at least another half a percentage point, a threshold that was crossed at the May meeting.

An additional 38% said they would wait to raise rates until the Fed increased its target by three-quarters

of a percentage point. The Fed is widely expected to enact another half percentage point increase at its meeting June 14 and 15.

Bankers were also asked to rate their focus on a series of industry-related policy issues. Those of most concern were the Consumer Finance Protection Bureau’s crackdown on “junk fees” (42% said they were focused on the issue), its proposed regulations for small business reporting (41%), the bill to allow banks to provide basic banking service to cannabis companies (31%), and Community Reinvestment Act (CRA) reform (28%). The federal banking regulators released a comprehensive CRA reform proposal in early May. The creation of a central bank digital currency (13%) and regulatory standards for stable coins (11%), two issues that could fundamentally transform the banking industry over time, did not rate highly among bankers concerns.

OUR MISSION

Banking Northeast magazine is dedicated to providing quality informational/educational content that betters the mortgage process at every step.

The content is oriented to help professionals progress their understanding of the residential mortgage banking business and develop their skills at improving the efficiency and profitability at all levels.

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HOW TO PREPARE FOR

AN INTENSIFIED FIGHT FOR DEPOSITS Not every financial institution will find itself presented with the same challenges.

T

By T IM K EI TH, Special to Banking Northeast

he prolonged period of taking deposit gathering for granted seems to be nearing an end.

Financial institutions have been awash in deposits for years, flush with liquidity. According to data from the Federal Deposit Insurance Corp, deposit balances at banks have risen by 35% in the past two years alone.

The bigger challenge has been finding ways to put those deposits to use in profitable ways.

Everything has a life cycle, and it appears that financial institutions will soon need to be more competitive in recruiting and retaining depositor relationships. The Wall Street Journal recently noted a growing belief among bank analysts that deposits at the biggest U.S. banks could decline by 6% this year.

Competition is coming from all angles.

In addition to banks and credit unions, notable deposit outflows have been linked to cryptocurrency

exchanges as more people embrace digital asset investments.

For the first time in two years, bankers are declaring that they’re “in the market for CDs.” With that in mind, banks and credit unions must prepare for a shift in mindset and take steps to protect their liquidity.

THIS TIME *MIGHT* BE DIFFERENT With the economy entering its third rising rate cycle in the last 20 years, we can look to recent history for clues to the road ahead. However, several twists in the landscape make the crystal ball blurry. Rarely have financial institutions begun a cycle so well-funded, which may portend a delay in heightened deposit competition. At the same time, banks and credit unions are holding onto more mortgages – fueling a greater appetite for deposits.

There’s a unique commercial lending component to this turn in the cycle. Demand for traditional business loans has mainly been subdued – primarily

TIM KEITH

4 BANKING NORTHEAST | Issue 2, 2022

reflecting the success of the Paycheck Protection Program (PPP). It’s a matter of time before appetite for these loans returns, putting more pressure on financial institutions to hold onto their deposits.

Not every financial institution will find itself presented with the same challenges. Markets are different, and it only takes one or two competitors promoting aggressive rates to reset consumer expectations and start a deposit battle.

The ascent of digital banking is another element. Depositors are less likely to see a rate card at the branch or speak with a banker before moving their funds – making silent attrition a much greater risk. As stated earlier, large sums are quietly leaving FIs to go to crypto exchanges.

THE CLIENT IN THE BALANCE Banks and credit unions shouldn’t solely monitor their loan-to-deposit ratios to assess their liquidity position – each deposit account has a client attached to it. Even if a financial institution doesn’t currently need the funds, is it willing to jeopardize the associated relationship? Any

Not every financial institution will find itself presented with the same challenges. Markets are different, and it only takes one or two competitors promoting aggressive rates to reset consumer expectations and start a deposit battle.

institution taking on deposits is sure to follow up with a checking account offer to secure primary financial institution status.

This points to the “sleeper risk” conundrum bankers perpetually encounter. There’s great temptation to pursue “new money,” enticing noncustomers with attractive offers when courting deposits. The irony is that these funds cost more than the rate bump required to convince an existing customer or member to stay (while at the same time, current customers are receiving similar higher offers from competitors).

Although many banks live in fear of sleeper risk, the reality is that true sleepers stay asleep. If an financial institution’s marketing strategy woke them up, chances are good a similar

effort by a competitor would have done so anyway.

Financial institutions can tackle deposit gathering with an approach akin to what we propose for finding overlooked lending opportunities within an existing client base. It is incumbent on the institution to proactively initiate conversations that make it easier for customers to selfidentify as being “in-market” when it is right for them.

THE BOTTOM LINE In the short run, most banks and credit unions can afford a little runoff of deposits – some might even welcome it. However, the rules of engagement can change rapidly, much as they have with inflation, and FIs certainly do not want to lose

client relationships in the process.

While it is essential to attract a prospective depositor’s attention while they’re in the market, building familiarity through prior exposure also has value. The key is to be proactive and holistic in setting a deposit strategy – and hoping depositors don’t wake up as rates rise is not a strategy.

SRM has the tools and know-how to help you build such a strategy and effectively execute it to keep liquidity levels robust enough to support future lending opportunities.

Tim Keith is the chief strategist of account boost at SRM (Strategic Resource Management), an independent advisory firm serving financial institutions.

Issue 2, 2022 | BANKING NORTHEAST 5

DIAMOND CREDIT UNION SELECTS PATEL AS PRESIDENT & CEO Diamond Credit Union’s board of directors has chosen Rick Patel as its new president and CEO. Patel was selected from over 300 candidates after a nationwide search.

“Diamond is well known throughout the industry for its culture, team, and commitment to members and their community,” said Patel. “I’m grateful for the opportunity to serve and lead such a strong organization.”

Patel takes over for John Faust who announced in September his intentions to retire this spring. Faust will remain with Diamond, based in Pottstown, Pennsylvania, for several weeks to aid in the transition.

Patel comes to Diamond from Police and Fire Federal Credit Union, where he was the senior vice president – retail financial services. While with PFFCU, Rick managed all aspects of the Retail Banking Network of the $7.5 billion credit union.

Before joining PFFCU, Patel was the senior vice president – regional manager of Bucks County, Pennsylvania, at PNC Bank, where he managed retail banking, including 17 branches, extensions of the business banking and commercial banking team, investment team, wealth management team, mortgage team, and consumer lending team.

PATHFINDER BANCORP NAMES DOWD INTERIM PRESIDENT AND CEO The Board of Directors of Pathfinder Bancorp, the bank holding company of Pathfinder in Oswego, New York, announced the appointment of James A. Dowd as interim president and CEO. Thomas W. Schneider announced his resignation as president and CEO and a member of the board of directors.

Schneider will simultaneously transition to a new position as director of capital markets and corporate strategy. Contributing to the timing of the decision was Schneider’s desire to seek a less time-consuming role

6 BANKING NORTHEAST | Issue 2, 2022

due to recent health issues and personal loss.

Dowd joined Pathfinder Bank in 1994, as controller and has since held many prominent roles within the organization.

In 1999, he was promoted to chief financial officer followed by chief operating officer in 2017. Most recently, Dowd held the position of executive vice president and chief operating officer.

He has played a significant role in the physical expansion of the bank into Onondaga County, adding three fullservice brick-and-mortar branches and a loan production office in Utica, in Oneida County. Additionally, in the five years while acting as the chief operating officer and overseeing branch operations, the bank’s deposits increased 73%, during which time Dowd also played an integral role in the bank’s increased brand recognition in new markets.

AMERICAN EAGLE HIRES WILSON AS CHIEF LENDING OFFICER American Eagle Financial Credit Union announced a new addition to its senior leadership team with the appointment of Dianna C. Wilson as chief lending officer.

As chief lending officer, Wilson will lead the entirety of American Eagle’s lending operations—including real estate, consumer, business, credit cards, loan servicing, collections, and quality assurance—and she will have a significant influence on the East Hartford, Connecticut-based credit union’s strategic plans and programs.

“I am pleased to welcome Dianna to American Eagle, and we’re excited to add her expertise and talents to our executive leadership team,” said Howard Brady, president & CEO of American Eagle Financial Credit Union, who previously served as chief lending officer from 2015-2021.

“Dianna is the right leader to cultivate our loan portfolio,

PEOPLE ON THE MOVE and she will help us to realize our strategic vision for the future. The addition of Dianna follows several other executive appointments over the last couple of months, rounding out a dynamic team that I believe will lead American Eagle to continued growth and success, for our members and the communities we serve.”

Wilson most recently served as senior vice president of lending at Justice Federal Credit Union in Washington, D.C., Wilson brings 22 years of executive financial experience to AEFCU, following successful leadership tenures at multiple financial institutions in Virginia and the District of Columbia—including two credit unions. She has led teams and strategies focused on residential mortgage lending, indirect lending, consumer lending, home equity lending, card services (debit and credit), collections, and loan administration/quality control.

She previously served as treasurer of the National Association of Professional Mortgage Women from 2013-2016.

DIME NAMES DEVITO SENIOR VICE PRESIDENT, GROUP LEADER Dime Community Bancshares Inc., the parent company of Dime Community Bank in Hauppauge, New York, announced that David DeVito will join the company as senior vice president, group leader. Most recently, DeVito was senior vice present and team leader at People’s United Bank.

Prior to People’s United Bank’s acquisition of Suffolk County National Bank, DeVito was a senior lender at Suffolk responsible for managing their largest commercial lending relationships.

Conrad Gunther, chief lending officer of Dime, said, “Dave is a very well-regarded community banker with deep ties in his local communities and a proven track record. His client-centric focus makes him an excellent fit for Dime as we grow. We look forward to bringing him on board and capitalizing on the disruption in our marketplace from recently announced large M&A transactions involving our competitors.”

DeVito holds a bachelor’s degree in Finance from The Pennsylvania State University.

ALLTRUST CREDIT UNION PROMOTES ROBERT DOS REIS Robert Dos Reis has been promoted to the position of assistant vice president, senior branch manager at Alltrust Credit Union in Fairhaven, Massachusetts.

Dos Reis has been with Alltrust Credit Union since April 2021.

He joined the credit union with over seven years of retail banking management experience and continues to expand his experience in the banking industry.

In his new role, Dos Reis will be working directly with the senior vice president of retail administration on all aspects of retail operations oversight. He will assist with setting branch goals, along with continued coaching and monitoring of those goals. Dos Reis will work with the branch management teams to create consistent retail processes and procedures.

WESTFIELD SAVINGS BANK APPOINTS GARCIA SENIOR VICE PRESIDENT Jamie Garcia has been appointed senior vice president, commercial loan officer, for Westfield Savings Bank in Massachusetts. She will work out of the bank’s West Hartford, Conn., branch.

Garcia is responsible for commercial lending activities throughout Connecticut and will actively work with existing commercial lending, cash management, and retail banking teams in the state. prior to joining westfield bank, garcia served as senior vice president, relationship manger with People’s United Bank, and previously held various lending roles with Citizens Bank. she holds a bachelor’s degree in management and a Master of Business Administration from Bentley University.

“We are excited to welcome Jamie to our growing team in Connecticut,” said James Hagan, President and CEO. “With her extensive lending experience in the Connecticut market, she is the perfect fit to help Westfield Bank build business relationships and grow our presence in the Nutmeg State.”

Issue 2, 2022 | BANKING NORTHEAST 7

ALIGNING NEW MARKETING TECHNOLOGY with STRATEGIC BANK OBJECTIVES Don’t let fear of missing out on cutting-edge innovation lead to hasty decisions.

BY R ICK HA L L , Contributor, Banking Northeast

W

ithin the past year, banking has undergone a sea change of technology-driven transformation pushed ahead by the coronavirus pandemic. Banks in different strategic phases are feeling the effects — especially in the areas of lending, digitization, and marketing technology (often called “martech”).

The emergence of so many solutions built to address specific challenges, such as more effective targeting or enhanced customer onboarding tools, puts banks at risk of deploying new technology that solves problems that don’t exist — or, at least, aren’t at the top of the priority list.

New technology can and should be used in a way that positions marketing teams as strategic partners with lineof-business leadership. But the reality is that many banking institutions are lagging in aligning new marketing

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technologies with recast digital-first strategic corporate objectives.

We know this because bank marketers are speaking up about keeping up. They’re saying that marketing solution opportunities flood their desks every day, but there’s no reliable way to measure whether these new operating solutions will move them closer to their goals.

And betting on solutions that won’t actually create positive returns can put marketers years behind in addressing an institution’s competitive priorities going forward.

NAVIGATING MARTECH SOLUTIONS Marketers need to know how to navigate within the bank’s existing technology model when looking to deploy new martech solutions.

They must then choose from either a potentially limited set of capabilities

within the core offering or from a profusion of solutions from martech providers positioning themselves as “best in class.” While there’s neither a right nor wrong approach, marketers should weigh their options according to strategy rather than wow factor.

To inform their decisions and determine whether a martech provider can actually solve a problem, marketers often rely on third-party information or intuition. For many, though, the ability to determine how viable these solutions are has evolved much faster than the strategic needs of the bank.

However, the fear of missing out on cutting-edge innovation can lead to hasty decisions. Before selecting a martech solution, you need to be willing to ask yourself difficult questions to determine whether it’s right for your bank. Bank marketers need to stress test what they hear from all potential marketing technology providers through market research, peer reviews, references from customers who are currently using the technology, and just plain common sense — trust but verify.

There’s a host of credible advisory firms that publish assessments on banking martech solutions. If your institution doesn’t have a subscription to leverage for detailed insights, publicly available research is more convenient to access than ever. I know I could’ve made better decisions decades ago with the sheer number of

Bank marketers need to stress test what they hear from all potential marketing technology providers through market research, peer reviews, references from customers who are currently using the technology, and just plain common sense — trust but verify.

free insights available today.

At the same time, develop an internal scorecard to assess how your current martech providers respond to your request. Just because they’ve worked for you before doesn’t mean they understand where you want to go now.

From there, perform a gap assessment and figure out whether you can get by with your current partners, if you need to augment their work, or if you need to find a new path forward.

This is hard work, but it’s the only way you can credibly demonstrate that the marketing function understands strategically where the bank wants (and needs) to go to survive and compete.

You can’t just take the provider’s word for it, even if it’s from your current core provider. That’s too big of a risk. Some banks will be the first

to try it, but your company’s risk tolerance might determine that you don’t want to be that institution. So take your time. Refine your initiatives and strategy because the spending on bank martech may or may not steadily increase in the coming years. It’s critical that your decisions can scale at a rate that reflects where the bank wants to find growth.

THE FUTURE OF MARTECH SPENDING Today, social media and mobile outreach are rapidly augmenting traditional marketing channel usage, and experts believe that financial institutions will continue to spend more on digital marketing than on traditional marketing channels in the years to come. Statista reported that banks spent $19.6 billion on digital advertising in 2020. As the

economy rebounds, that spending will most likely increase to $23.6 billion in 2021.

To determine where those digital marketing dollars should go, banks must reflect on what the customer experience will be post-coronavirus.

If online account openings continue to prosper, for example, you should focus on marketing to prospects who are open to doing that. And if your bank has a hybrid branch and online strategy, then you should market accordingly.

Ultimately, you’ll need to change your marketing plan to a real-time model. If your martech partners can’t turn on a dime to help you, then find new ones. The unknown should be the new operating model for bank marketers, so it’s time to create marketing plans that are iterative and adaptable as the needs of the bank change.

Rick Hall is the managing director of the Banking and Financial Services practice at BKM Marketing, a boutique marketing communications and strategy firm based in the Boston area with a deep focus on the financial services industry.

Issue 2, 2022 | BANKING NORTHEAST 9

BANKS HONORED AS COMMUNITY CHAMPIONS

Economic development, financial education, arts, civic involvement and overall philanthropy honored

BY KEITH GRIFFIN, SENIOR EDITOR, BANKING NORTHEAST MAGAZINE

T

he Community Champions Awards are an annual recognition program run by Banking Northeast. Financial institutions submit nominations in categories including economic development, civic involvement, support of the arts, and philanthropy.

The nominations were sent to our judges, who were all independent of any bank, credit union or vendor. None of the judges had any connection to our finalists.

The judges scored each component, which added up to the final overall score. When the overall scores were combined, the highest vote getters became our winners.

Please note that the judges had the prerogative of not awarding categories where they deemed the submissions did not reach the standards they sought. So some categories may not have a winner, or there may be only one or two submissions that were given a nod by the judges.

These awards were presented at BankWorld, a conference affiliated with Banking Northeast’s parent company, American Business Media.

At left, staff from Ulster Savings Bank pose with two awards the bank won in the Overall Philanthropy and Inspiration categories at BankWorld. At right, staff from Thomaston Savings Bank had their hands full with their four awards in the categories of Economic Development, Inspiration, Overall Philanthropy, and the Arts.

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ECONOMIC DEVELOPMENT

In this category, special community outreach was provided that focused on bettering economic development in the institution’s footprint.

FOR ASSET SIZE OF OVER $1.5 BILLION

Berkshire Bank GOLD MEDAL

Webster Bank SILVER MEDAL

Berkshire Bank’s economic inclusion program has engaged over 86,000 community members through programming, products, services, and partnerships.

It’s worked closely with local government officials, community organizations, regulators, and stakeholders to deliver programming and build upward economic mobility. The interconnectivity of programs helps individuals along a continuum with multiple interventions, programs, services, and products to build economic mobility.

Webster Bank is the founding funder of the Women’s Business Development Council (WBDC) Equity Grant Match Program. A partnership with nonprofit, government and financial entities, it was designed to promote economic prosperity of women- and minority-owned small business throughout Connecticut during the COVID-19 pandemic, which impacted them disproportionately.

MarcDeNofio from Berkshire said, “There are a number of human and financial resources both internal and external to the company that has gone into the development, implementation, and success of our comprehensive economic inclusion programming. It includes nearly $1 million in direct philanthropic support to programs with nonprofit organizations that help power financial wellness along with nearly 2,000 hours of volunteer service in which our employees provided financial coaching to individuals and businesses alike.

“We allocated more than $3 million in capital to support loan programs aimed at helping underrepresented small businesses run by marginalized and underrepresented populations.

Berkshire Bank is transforming what it means to bank its neighbors socially, humanly, and digitally to empower the financial potential of people, families, and businesses in its communities as it pursues its vision of being the leading socially responsible omnichannel community bank in the markets it serves.”

He explained how success is measured. “We use KPIs and collect multiple outputs, outcomes, and financial measures to assess success and impacts of economic inclusion programming on the community.

Leveraging surveys to assess the outcomes ensures that our efforts are collectively moving the needle forward.”

Elaine Ficarra of Webster Bank explained, The WBDC was the first and only program of its kind providing grant funding, not a loan, coupled with technical training and requiring matching dollars from the business owner. Micro-grants between $2,500 and $10,000 are awarded for clearly defined projects with a measurable business impact. Those from economically distressed municipalities have priority.

“The grants funded a convection microwave for a coffee shop and a massage therapist’s training for breast cancer recovery work. A Southington woman kept her catering service afloat with a new pizza truck. StickFX of Portland used the funds to secure FDA approval for three innovative mask products.

“A significant commitment from the State of Connecticut’s Department of Economic and Community Development helped the program surpass the $1 million mark by January 2021. That funding added to the general contributions from private and public funders, meaning critical business assets.

“Webster helped businesses affected by workforce and supply chain changes and other challenges pivot, expand and restructure. The program aligned with the company-wide commitment to diversity, equity and inclusion and focus on supporting small business.”

Issue 2, 2022 | BANKING NORTHEAST 11

ECONOMIC DEVELOPMENT

ECONOMIC DEVELOPMENT

FOR ASSET SIZE OF $500 MILLION OR LESS

FOR ASSET SIZE OF $500 MILLION $1.5 BILLION

Ponce Bank GOLD MEDAL Lee Bank GOLD MEDAL In March of 2021, Lee Bank launched the Lee Bank Foundation. The overarching goal of the foundation is to reduce the opportunity and wealth gap for atrisk youth and their families in Berkshire County.

In previous years, the bank’s community giving totaled between 5-6% of the bank’s net income (approximately $150,000 in contributions and sponsorships per year). The launch of a $5 million foundation gives Lee Bank and its foundation to more than double their annual commitment to the community (approximately $320,000 in grants, contributions, and sponsorships).

Once the bank received approval from the board of directors, it implemented an application portal ($7,500), sought legal counsel to establish the Lee Bank Foundation as a 501(c)(3) ($10,000), brought in a publicist to help with PR and media releases ($15,000), and after its first round of funding was distributed, the foundation chose a few organizations to feature in its ad campaigns ($10,000). The foundation seeks to distribute 5% of the average market value (approximately $250,000) in grant funding each year with grants ranging from $1,000 - $25,000. Grant proposals will be reviewed and funded four times a year.

In its first three successful funding rounds, the foundation’s board has reviewed 76 total proposals with requested funds totaling $1,194,504. In the first three rounds of funding, it distributed $161,250 in grants to 29 local organizations. The average grant size has been $5,560. This is in addition to over $65,000 in contributions and event sponsorships from the bank.

Each organization that the foundation has funded submitted a proposal for programming that focuses on bridging the opportunity and income gap within our footprint.

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Ponce Bank began an experiment to engage employees and customers in a participatory-design-led process aimed at turning Ponce into “an engine for SocioEconomic Empowerment.” In March 2020 these efforts took center stage as COVID-19 targeted its stakeholders tremendously.

PonceCovidRelief.com went live in mid-March outlining its commitment to customers and community, offering loan forbearance, loan modifications, community resource and financial education centers, and facilitating PPP loan applications to customers and non-customers alike.

Its #PonceCares and #PonceLove campaigns also launched encouraging socially distant banking in support of its cash-dependent, chronically underserved communities. Its branches remained open throughout the crisis.

Steve Hamilton, senior vice president and designer-inresidence, said, “Since COVID hit, we’ve provided over 70,000 credit-building micro-loans to people lacking credit history or with poor credit to help them get back on track through our fin-tech partnership with Grain Technologies and have recently rolled out a fast decision (generally less than 24 hours) small business micro-loan product through another technology partnership that we hope will get many of our small businesses back on their feet.”

He added, “Financial impacts notwithstanding, the metric we’re most proud of is a 22-point increase in an independently surveyed response to the question, ‘I believe my financial institution cares about my wellbeing.’ Mission accomplished.”

“We’re expanding our partnerships with non-profits that support our communities with a dedicated nonprofit liaison. We’ve launched and will broaden access to a comprehensive financial mastery campaign.

“Upon completion of a recently approved stock offering we will double the endowment available to community non-profits via our foundation. We partnered with two new fintechs that help us provide micro-loans to consumers and small businesses where credit was previously difficult or impossible.”

ECONOMIC DEVELOPMENT FOR ASSET SIZE OF $500 MILLION $1.5 BILLION

CIVIC INVOLVEMENT

Winners in the civic involvement category made extraordinary efforts on either the bank’s part or on the part of an individual representing the bank.

FOR ASSET SIZE $500 MILLION TO $1.5 BILLION

Thomaston Savings Bank SILVER AWARD Thomaston and its employees have been dedicated to assisting those in its community who have been experiencing extreme hardships. Inarguably, one of the hardest hit during this difficult time is the small business owner, and most notably, those in the food service industry. Thomaston Savings Bank created the Community Kitchen Project to assist restaurant owners by contracting with them to provide meals for area shelters and soup kitchens.

This enterprise created business for local restaurants during a notoriously slow winter month, while feeding the most needy citizens.

Cheryl Lindstrom, assistant vice president, said, “We were able to assist small business customers severely affected by the pandemic and were experiencing great financial difficulties while providing meals to our neighbors in crisis, bolstering our community during the greatest time of need.”

She added, “Thomaston Savings Bank will continue to be a reactive and productive leader, responding to the human and material needs of the communities we proudly serve.”

This culmination of efforts resulted in over 6,000 meals served through 10 agencies. “Caterers were grateful for the opportunity to generate income while giving back to the communities they serve and nonprofit employees were given a much needed hiatus after months of difficult work on the front lines,” Lindstrom said. “The businesses and the nonprofits garnered positive public relations spurring on further community support. One restaurant owner sighed in relief stating, “This is a lifeline during desperate times.”

BankFive Gold Winner BankFive has supported the Mobile Market food distribution program since 2017, both financially and through volunteerism. The Mobile Market also operates from two of its branches’ parking lots. The impact of coronavirus on food insecurity was great.

Many people who have been most impacted by the pandemic were food insecure or at risk of food insecurity before COVID-19. Its partnership was particularly instrumental over the last two years when the community needed help the most.

In 2021, over 10,000 pounds of produce was distributed.

For some families, it was the only way they could afford to add vegetables to their meals.

Andrea Rodrigues from BankFive explained, “Our employees volunteered wearing masks and gloves.

They assisted the set up and break down of the market, unloaded produce off the truck, stocked produce as it ran low, and talked to patrons about information available at the market regarding area services. Most importantly, they treated patrons with dignity and respect.

“In 2021, we continued our sponsorship and BankFive employees once again volunteered. United Way’s Hunger Commission works tirelessly to ensure residents on the SouthCoast have access to fresh and healthy food.

BankFive is proud to support our community and assist with meeting the needs of food insecurity.

Some statistics about BankFive’s involvement: 2020 · 17 total markets held · 3,820 individuals served overall · 996 bags of food in total distributed · 327.25 volunteer hours 2021 · 759 households served · 2,730 residents benefited · 104 volunteers · 10,000 pounds of produce distributed

Issue 2, 2022 | BANKING NORTHEAST 13

The staff of Chelsea Groton Bank celebrate its gold medal award in the Inspiration category for its ‘You Can Count On Us’ campaign.

BEST Community Comeback

Every community deserves a COMEBACK. Today is all about yours.

For over 175 years, our most important investment has been the one we make in each other. We believe that a better world requires a better approach to banking.

We are happy to announce Berkshire’s BEST Community Comeback, which is our $5 billion commitment to powering the financial potential of our communities and local economies.

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CIVIC INVOLVEMENT

ASSET SIZE $500 MILLION TO $1.5 BILLION

UMassFive College Federal Credit Union GOLD MEDAL UMassFive College Federal Credit Union (UMassFive) is a Select Employer Group (SEG) based credit union serving over 50 SEGs, with six branch locations across three counties in Western and Central Massachusetts. Its objective is to provide value to non-profit organizations within each of the communities it serves, whether through financial sponsorship, donation drives, volunteer work, or financial wellness education. The credit union also aims to encourage a similar community spirit within its employees and members.

In 2020, for example, the credit union supported over 40 organizations through sponsorships, donations, volunteer work, and financial wellness workshops.

UMassFive employees personally raised over $14,000 for two fundraising events. Its members redeemed their Buzz Points to donate over $7,600 to local charities. In-branch drives collected over 1,000 pieces of cold weather clothing and 300 lbs of personal care items. The credit union also provided 36 financial wellness workshops for members, SEGs, and the communities it serves.

The credit union also supported struggling catering businesses by ordering 500 lunches for health care workers, first responders, and a local survival center.

The credit union’s community outreach manager, working with retail managers and marketing, seeks opportunities to connect and impact the communities it serves through new and existing partnerships with SEGs and local organizations. Cultivating deeper relationships with these partners allows the credit union to creatively offer value while remaining conservative in the amount of financial support we extend.

CIVIC INVOLVEMENT

ASSET SIZE $500 MILLION TO $1.5 BILLION

Fieldpoint Private SILVER MEDAL When the COVID crisis began, Fieldpoint Private wanted to facilitate credit to businesses in existential need of support. The challenge was Fieldpoint Private was not eligible to participate in PPP, as it was not an SBA lender and needed to create the program from scratch. Fieldpoint immediately completed the SBA application process and gained approval. It quickly implemented new technology to facilitate SBA portal access and ensure “perfect” submissions and immediate funding.

It was the most remarkable single accomplishment in the firm’s history. Over three weeks it created a product and gained approval for a lending specialty not previously in its model. Fieldpoint sourced two new technology solutions to overcome technology glitches of the federal government. It reengineered staffing to meet the call, and did it all from employees’ kitchens, dens and attics, using cutting edge remote access technology that had only been implemented weeks earlier.

PPP constituted 42% of Fieldpoint Private’s loans in 2020. In all, 60 loans were approved and funded.

More importantly, paychecks for more than 1,400 families were saved in the crisis.

Also, Fieldpoint and its directors bought and delivered over 500 meals to area health and emergency workers in the peak weeks of the crisis.

Issue 2, 2022 | BANKING NORTHEAST 15

CIVIC INVOLVEMENT

CIVIC INVOLVEMENT

ASSET SIZE GREATER THAN $1.5 BILLION

ASSET SIZE GREATER THAN $1.5 BILLION

Service Credit Union GOLD MEDAL

Union Savings Bank SILVER MEDAL

During the holiday season, many organizations perform the important task of donating meals to those in need. However, Service Credit Union saw there was also still a large need for warm clothing and accessories in the winter among many New Hampshire citizens. To address this need, the credit union set out with a plan to provide local nonprofits with cinch bags full of supplies to distribute among those in need, and called these “Stay Warm” bags.

The credit union purchased, stuffed and distributed over 5,000 Stay Warm bags that included a blanket, gloves, hat, and scarf, in a reusable cinch sack.

The immense awareness of the food insecurity felt by so many individuals and families in Union Savings Bank’s community drove the bank to act and come up with an initiative in support of local food pantries. With this dire need in mind, the Feeding Our Neighbors Community Challenge was born.

It was meant as a way to come together and share with those less fortunate in the bank’s own backyard.

Union Savings immediately committed $15,000 to start the momentum going and created ways to get the word out and engage others in the cause with a goal was to raise $100,000.

A landing page was created for interested nonprofit organizations to request bags, and they could indicate how many they wanted, and where of two locations they wanted to pick them up from. Service CU volunteers packed the bags and, with the help of the NH Food Bank, dropped them off at the two distribution centers.

By partnering with the United Way of Western Connecticut as the facilitator to collect online donations and former Mayor Mark Boughton of Danbury as a respected voice in the community and the leaders at two other local banks who each made a $15,000 donation, the challenge was launched with $45,000 as a starting point.

From the United Way of Greater Nashua to the We Care Food Pantry, more than 5,000 bags were distributed to over 30 organizations and groups of all kinds across the state of New Hampshire. The credit union plans to continue supporting the communities it serves and improving its members’ financial wellbeing, whether it’s continuing efforts such as Stay Warm, or partnering with organizations that help the credit union support its communities in New Hampshire, veterans, and military and more.

The mayor used his “Live at Five” as a daily update and started a friendly competition with his PR associate to see who could fundraise more. The loser would run in either a chicken or unicorn costume but since they were in this together they both took to the downtown streets in costume to drive even further participation.

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The campaign was an overwhelming success! As a result of the collaborative efforts of the community at large the bank’s initial commitment of $15,000 grew to over $117,000 in benefit of the Danbury Food Collaborative and its 14 local food pantries; equating to over $8,000 to each allowing them to purchase most needed items in bulk at a better cost.

FINANCIAL EDUCATION

Winners in the financial education category created efforts that have promoted financial literacy and economic education among customers.

ARTS

This category focuses on support from an institution for its town’s arts and culture.

FOR ASSET SIZE $500 MILLION TO $1.5 BILLION

FOR ASSET SIZE MORE THAN $1.5 BILLION

Webster Bank GOLD MEDAL

Thomaston Savings GOLD MEDAL

Over the years, Webster Bank has provided funding, leadership and nearly 1,000 banker volunteers who have taught 15,000 Junior Achievement students. Senior Webster officers serve on five boards throughout its footprint of Connecticut, Massachusetts, Rhode Island, New York and Wisconsin.

For many years Thomaston Savings Bank has been committed to being a staunch supporter of the arts.

Through foundation grants and bank sponsorships, combined giving to the arts in 2020 was nearly $120,000. Thomaston Bank is devoted to supporting local theatres, musical ensembles, art studios and museums -- organizations that lend an undeniable vitality to the communities they grace. Thomaston Savings Bank recognizes the importance and positive influence the arts have on individuals and the communities who are fortunate to be exposed to their creative stimulation, and is a devoted advocate of this funding area.

Hundreds of Webster bankers have volunteered for JA in a Day school programming. During the pandemic, Webster kept its partnership vital and relevant through a virtual career panel for high school students, recorded lectures and mock interviews that will be used for years to come.

Elaine Ficara from Webster said, “JA focused on online learning and redesigning their programs to best address their students’ needs. Webster provided funding and subject matter expertise for career development programs. Two examples: Recorded videos used as a teaching resource and JA’s Entrepreneur Mindset Workshop in Fairfield County; the Hartford-based Pathways to Careers, a strategic diversity, equity, and inclusion initiative to better prepare Black and Brown students for future success, and to help close the racial wealth gap, serving 2,037 students.

“Webster volunteers and funding helped JA pivot its delivery model and keep our shared promise to the youth of the communities we serve. Our Corporate Communications team amplified our partnership through staff coaching, social media posts and press outreach.”

Cheryl Lindstrom from Thomaston Savings said, “To ensure growth and success in our neighborhoods, the bank reviews its charitable giving annually to assure that support is reaching the organizations in need. Bank employees are very active and involved in community events encompassing the arts, and thus the Bank has a good sense of the programs and organizations in need of endorsement.

“The arts are most important to support as they are inarguably linked to economic development as well as success in education. Thomaston Savings Bank will perpetuate support to the arts long into the future as it directly impacts the wellbeing and soundness of our communities.

“Through bank and foundation support students of all ages are able to learn to read music, play instruments, perform in choral and instrumental ensembles, put on productions and create works of art. Local theatres light their stages and marquees, create costuming, hang stage curtains and generate amazing backdrops to produce fantastic plays and musicals. Museums have guided tours, curate collections, and offer publications highlighting collections and points of interest. “

Issue 2, 2022 | BANKING NORTHEAST 17

OVERALL PHILANTHROPY

This category recognizes overall efforts of being a supporter of programs, events, and people who are vital to the bank or credit union’s community.

OVERALL PHILANTHROPY FOR ASSET SIZE $500 MILLION TO $1.5 BILLION

FOR ASSET SIZE $500 MILLION AND LESS

Ulster Savings Bank GOLD MEDAL Bay State Savings Bank GOLD MEDAL Bay State Savings Bank launched its program, “BSSB Cares.” The campaign made a positive impact on the community by reiterating the message that Bay State always shares, “which is very simply that we care.”

During a time filled with uncertainty, its customers and community members knew that they could count on the bank. This campaign not only put much-needed dollars back into circulation but also helped generate camaraderie amongst the entire community.

Ariana DelloStritto, a marketing office for Bay State Savings, said, “This campaign inspired our community to stick together, in both the good times and the challenging ones. It supported local, small businesses, which in turn helped them keep their staff employed. Those that received the gift cards were shown a random act of kindness. Nurses who were watching people die alone, or moms who were forced to give up their careers to become their child’s teachers. This campaign ignited the flame in many people’s hearts that the pandemic was threatening to blow out.

She added, “This year, our goal is to continue supporting the community as we emerge from the pandemic. We anticipate financial hardships to continue well into 2022, so we’d like to do our part in continuing to provide support in whatever way we can, no matter what it takes.

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Ulster Savings Bank threw its budget out the door once COVID hit. It waived over $1.1 million in fees! Over 4,700 jobs saved with $34 Million in PPP Loans. Also, 1,186 loan payment deferrals were awarded. Faster direct deposits were made. The bank donated over $450,000 and its employees put in 2,007 volunteer hours.

The community itself has been heart-wrenchingly grateful. As an admirer tweeted: “It’s so cool when a local savings bank gets all George Bailey in a time of hardship. Right on @ulstersavings!”

Ulster Savings’ Connie Harkin added, “At Ulster Savings Bank, we believe in being a major driver of positive change in our community and we believe in changing the trajectory of people’s lives. Hundreds of thousands of dollars is budgeted to be given out to strengthen the communities we serve. Financial literacy is a big part of everyone’s lives and Ulster Savings Bank plans to expand outreach with the financial literacy programs that we offer. “

OVERALL PHILANTHROPY

OVERALL PHILANTHROPY

FOR ASSET SIZE $500 MILLION TO $1.5 BILLION

FOR ASSET SIZE $500 MILLION TO $1.5 BILLION

Salisbury Bank SILVER MEDAL

Thomaston Savings Bank BRONZE MEDAL

In 2020, its employees volunteered more than 7,000 hours to support organizations and charitable causes in its communities. During its 13th annual shred and food drive it shred approximately 49,880 lbs. of paper and collected 1,224 items, which were donated to local food pantries. It hosts an annual Fill the Basket Food Drive (last year it collected over 1,700 non-perishable food and household items, and $719 in cash donations. In addition the bank donated $1,000 to each local food pantry.

Annually Thomaston Savings Bank’s foundation awards a minimum allocation of $400,000 to applicants in its annual grant cycle. Another $300,000 is allocated for recurring support to organizations, which the bank has identified as community partners. Between Bank and Foundation funding in 2020, Thomaston Savings Bank provided $1,022,653 in support to 175 local agencies.

Salisbury Bank’s Julianna Sinchak said, “We work hard everyday to build up communities through our volunteer efforts. Our employees contribute a considerable amount of time to various volunteer groups. They go above and beyond, year after year, to volunteer their time to help improve the hometowns we all love.”

She listed some areas where the bank is involved: • Sponsorships & Contributions • Scholarship Programs • Community events - shred days, food drives, toy drives, etc.

• YOUniversity program • Employee Volunteerism • Business Partner of the Month program “We promote all of our programs and events in our branches, on our website, social media, email (e-notes), other forms of customer communications, press releases, and partnering/informing local organizations that have the same goals and or needs,” she added.

“Thomaston Savings Bank aims to respond to the human and material needs of the communities the Bank serves. The Thomaston Savings Bank Foundation was formed over 20 years ago and serves as a steward in the bank’s mission to drive continuous growth and assist in improving the quality of life for its neighbors,” said Cheryl Lindstrom for Thomaston Savings.

She added, “Annually the Foundation considers applications from local charitable and government agencies who address community needs in the areas of arts & culture, community development, education & youth services, health & human services and public safety. The bank and its foundation provide essential support to bolster the community.

Lindstrom explained how results are measured.

“The irrefutable results of any charitable campaign lie in the numbers. Over $1,000,000 dollars funding 175 agencies is impressive indeed. The budgeted resources are used efficiently to support an array of initiatives that advance and improve the quality of life for all in the towns the Bank serves,” she said.

Issue 2, 2022 | BANKING NORTHEAST 19

OVERALL PHILANTHROPY

OVERALL PHILANTHROPY

ASSET SIZE OVER $1.5 BILLION

ASSET SIZE OVER $1.5 BILLION

Maspeth Federal Savings GOLD MEDAL

Spencer Savings Bank SILVER MEDAL

Covid-19 caused mass panic, illness and loss, and profound economic and financial hardship for many across the globe. The bank’s customers needed support and guidance with managing their finances and navigating complex government relief programs.

The bank’s target audience and desired outcome was helping the hospitals, nonprofits and businesses get through this historic pandemic time by providing them support in a variety of ways - monetary, emotional, and volunteer time.

Maspeth Federal Savings staff needed support as they quickly learned to balance new responsibilities and work arrangements. In the community, essential workers, small businesses, and community organizations were struggling to secure PPE, funding, and other resources needed to operate. The bank’s main objective was to take immediate action to support our customers and staff as well as leverage our financial position and relationships to give back to our communities.

According to the bank’s nomination, its campaign was the result of collaborations with local government officials and organizations as well as multi-channel marketing. It also used a variety of media channels including digital display advertising, local news outlets and social media to promote our efforts. Additionally, its most unique and effective method was sourcing input from the community.

This allowed the bank to further its reach and overall effectiveness, while providing a voice to those struggling.

The bank’s efforts resulted in: • the distribution of hundreds of meals and $20,000 in PPE; • $50,000 in funding to local organizations which sustained community programs that were at risk; • 10 not-for-profit organizations and 20 first responders shared over $30,000 of monetary and PPE contributions from the bank’s COVID campaign; • three hand-painted murals that brought hope and positivity to medical staff while supporting local artists; and, • positive brand sentiment in the market.

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The plan was to identify various community organizations that needed support and help them get through this difficult time. As a team, the bank’s staff came together quickly and worked hard during the shutdown, despite its own illness fears and personal challenges, to organize and distribute $400,000.

Bank staff worked long hours to provide over $15.3 million in PPP loans - saving over 1,000 jobs and 171 businesses. The bank also took the extraordinary step of writing letters of encouragement for various 1st responders.

Jose B. Guerrero, Spencer’s Chairman & CEO, said, “Looking back, we’re so proud of the support we have lent to our customers and our community, at a time when they needed it most. It was a tough year and a very busy one for us here. We promise to continue to hold true to all that community banking represents and never waiver from this. Nothing is more important to us here.”

INSPIRATION

Here Banking Northeast looked for special outreach, particularly addressing unique problems – say, for example, helping during a pandemic.

INSPIRATION

ASSET SIZE $500 MILLION TO $1.5 BILLION

ASSET SIZE $500 MILLION TO $1.5 BILLION

Chelsea Groton Bank GOLD WINNER As COVID hit, Chelsea Groton already had the people, processes and technology in place to work remotely at 100 percent capacity. Many area institutions were not prepared for the pandemictransition and as a result, had to pause on accepting mortgage or PPP loan applications. It was ready and able to be fully engaged, and wanted the individuals and businesses in its community to know it was there to support them.

The bank developed the “You Can Count On Us” campaign and shared its capabilities for financial product support, as well as online financial educational classes and resources, community resources, and financial support of area organizations.

It processed more SBA PPP loans than any lender in the region ($75 million across almost 600 businesses, saving over 5,000 jobs); processed record mortgage and re-fi volume, waived fees and approved loan deferrals; improved service quality score to 97.18%, improved loyalty and net promoter scores; introduced digital services: Video Banking ATMs, Video Banking App, mobile wallet; offered all educational and lifestyle events online; and doubled usual annual giving, providing over $1 million in relief to organizations.

Barbara Curto, the bank’s vice president and marketing manager, said, “We help individuals, families, and businesses succeed in big ways and small by putting more effort into everything we do — and by doing it all with a one-person-at-a-time mindset. We’re committed, as we’ve always been, to supporting every customer’s needs and goals, equally.

And, we provide tools to help customers manage their finances when, where, and how they want.”

Ulster Savings Bank SILVER MEDAL Ulster Savings Bank was selected for its Random Acts of Kindness program. What a great idea.

Ulster Savings Connie Harkin explained, “Ulster Savings Bank is celebrating its 170th anniversary this year. The bank is, and always has been, a leader in community giving. Since our foundation was formed in 2001 to recognize the 150th anniversary, Ulster Savings has given over $12.5 million back to the communities we serve in Ulster, Dutchess, and Orange counties in New York. To mark our 170th, we wanted to create something to enhance what we already give and to make a difference in another way.

Born from that was a yearlong celebration of random acts of kindness to be especially meaningful after the COVID environment.”

She added, ”Officers and branch managers were initially given pre-loaded debit cards for random acts to be given any time. Employees gave suggestions on random acts of kindness ideas and once approved, were executed.

“To execute the strategy, employees worked with their business customers and community partners to involve them in random acts of kindness. Not only did it lift up the person receiving the random act of kindness but also our business and community partners to help distribute the act. For example, a business customer identified 17 customers who were having difficulty paying their bills. Those customers then received a notice with their next bill saying, this month’s bill is paid for by our friends at Ulster Savings Bank. Unexpected and random were the tactics used to result in the most impact.”

Issue 2, 2022 | BANKING NORTHEAST 21

INSPIRATION

ASSET SIZE $500 MILLION TO $1.5 BILLION

Thomaston Savings Bank BRONZE MEDAL Repercussions continue to unfold as the world navigates through the current pandemic. Thomaston Savings Bank and its employees have been dedicated to assisting those in the community who have been experiencing extreme hardships. Inarguably, one of the hardest hit during this difficult time is the small business owner, and most notably, those in the food service industry.

Thomaston Savings Bank created the Community Kitchen Project to assist restaurant owners by contracting with them to provide meals for area shelters and soup kitchens. This enterprise created business for local restaurants during a notoriously slow winter month, while feeding the most needy citizens.

“Personal outreach was extended by Bank Officers to shelters and soup kitchens within the bank’s footprint to determine the number of meals served through each agency daily,” explained Thomaston Savings’ Cheryl Lindstrom. “The bank’s small business customers in the restaurant industry who were identified as experiencing financial hardships were presented with an overview of the project and an offer to participate. Once the willing participants were identified, restaurants were matched with nonprofits and a schedule was developed for meal delivery. Thirty thousand dollars was allocated to pay the restaurants contracted for the food provided to the shelters and soup kitchens. One flat price per meal was negotiated with each business, which enabled us to budget funds for each participant.”

We are proud to receive Bank World’s

Community Champion Award for

with

170 Acts of Kindness ulstersavings.com/170acts

866-440-0391 | ulstersavings.com EQUAL HOUSING LENDER/MEMBER FDIC

22 BANKING NORTHEAST | Issue 2, 2022

Ulster Savings Bank was born 170 years ago on April 12, 1851 in Kingston, New York. Today, this $1.25B community bank has grown into a full service financial services company and one of the Hudson Valley’s most successful businesses. As one of only 494 mutual savings banks left in the United States today, Ulster Savings Bank remains strong and committed to its customers and communities it serves.

“Our founders put up their own capital to start a bank to help the community, with no expectations,” said President and CEO Bill Calderara. “We have a strong set of core values: We are here to be a major driver of positive change. We can change the trajectories of people’s lives. We believe in having the customer’s back. We pull together to get things done, and we believe in creating a workplace we can all brag about. That’s not on the website; it’s not a marketing piece. It’s our center, and as decisions arise, it’s our guide.”

Ulster Savings has a long and distinguished history of being responsive and giving back to the community through its philanthropic and volunteer support. In 2021,Ulster Savings distributed over half a million dollars in donations and grants to non-profit organizations along with thousands of employee volunteer hours to help bring about positive change and impact throughout the community.

During the COVID pandemic a local admirer tweeted-“It’s so very cool when a local savings bank gets all George Baily in a time of hardship. Right on, @ulstersavings!” Very cool it is, but those tendencies, reminiscent of the humble hero George Bailey from It’s a Wonderful Life, have been woven into the bank’s DNA over 170 years, pandemic or no pandemic. Since forming the Ulster Savings Charitable Foundation in 2001 to supplement their charitable giving, over $14.5 million dollars have been distributed to those in need.

Ulster Savings has their customer’s backs in unique ways such as preventing fraud before customers even realize it! Awareness of potential fraud and how to prevent it is critical, which is why they offer free financial literacy tools, fraud prevention, and identity theft resources on the bank’s website and Facebook page. Their smart business solutions products include tools for businesses, too, like Positive Pay to help protect against check and ACH fraud.

In 2021, Ulster Savings made a substantial investment in driving positive change in their community with its Going Green Initiatives. Solar panels were installed in several branch locations. At its Kingston Headquarters, a solar-powered electric vehicle charging station was recently completed that can charge six vehicles at any given time. More green investments are planned for 2022.

Ulster Savings is more than just a bank. Whether it’s supporting the community, finding the right financing solution for a mortgage or small business, providing convenient banking options, or protecting what matters with proper insurance coverage, Ulster Savings provides that and so much more.

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