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May 7, 2019 Book of Lists 2018

Bay State Savings Bank

Bay State Savings Bank: Community Bank of Choice

Since our establishment in 1895, Bay State Savings Bank has remained committed to one mission: be the “community bank of choice.” To our communities, we offer customized retail and commercial services. We are invested in building personal relationships with every customer who walks through our doors.

Our mission statement has not changed for 123 years, but we continue to expand in the digital channels through which we deliver our services. Spaces such as our virtual branch and mobile app allow customers wider access to our services. Additionally, we remain engaged with our customers on social media platforms including Facebook, Twitter, Instagram, and Linkedin. 

We translate this accessibility to the communities that surround us. When it comes to our involvement with local organizations, Bay State Savings Bank makes an effort to not only be affiliated with events happening in our community – our staff is present. Our Bank Officers volunteer their time and professional expertise to serve on the boards of local organizations as Mechanics Hall, the Worcester Historical Museum, Friendly House, Edward Street Child Services, Habitat for Humanity, Children’s Friend and Best Buddies. 

The Bank’s Bay State Savings Charitable Foundation awarded over $24,000.00 in grants to several non-profit organizations in 2017 and has distributed more than $500,000 in grants and scholarships since its establishment in 2003. The Bank also raised money for the Rise Above Foundation through our Champions for Children program, which was established in 2004 to recognize and support local organizations who provide education, mentoring, training, life skills development, and recreational opportunities for youth in the community. Last year, we also supported initiatives and organizations including PowWow Worcester, the Worcester Railers, the Ecotarium, the Worcester Business Development Corporation, Literacy Volunteers of Greater Worcester, the American Diabetes Association, the Mustard Seed, YouthConnect, Senior Fraud Helpline, the Bravehearts and Dress for Success. 

We are proud to have been recognized in recent years for our contributions. Bay State Savings Bank was named the 2018 “Outstanding Community Partner” by Girls Inc. of Worcester and named “Corporate Citizen of the Year” in 2015 by the Worcester Business Journal.  We were also recognized by the Better Business Bureau for ethical business practices.

Bay State Savings Bank now has assets of over $400 million, and we are continuing to grow in every aspect.  In 2017 alone, the Bank granted over $100 million in loans to businesses and residents in the communities it serves.

Bay State Savings Bank has full-service branches in Worcester, Holden, and Auburn, including an education-based branch at Auburn High School. We look forward to the future and continuing to be an integral part of the communities from which we draw our business. 

Bay State Savings Bank

Street Address: 28 Franklin Street, Worcester, MA 01608                                                              

Phone Number: 800-244-8161   |   508-890-9090 (Español)

Website: www.baystatesavingsbank.com

Product or Service Description: Banking/Finance

Number of Employees: 70+

Head of Company and Title: Peter B. Alden, President/CEO

Year Founded: 1895