For the past 190 years, Middlesex Savings Bank has been more than an institution – we’ve been a trusted provider of financial guidance and a dedicated member of the communities we serve. To this day, we’ve remained committed to the values that set us apart: mutual banking, exceptional service, and community giving. As we celebrate this milestone, we reflect on our history and look ahead to a future dedicated to continuing to help our customers and communities thrive.
A History Rooted in a Commitment to Mutual Banking
Back in 1835 when Middlesex Institution for Savings was founded in Concord, MA, most banks catered to businesses and not everyday families. But our founders saw things differently. They recognized the need for a bank to put the community first – a place where everyone had the opportunity to grow, save, and build a better future.
“For Middlesex, it all started back on March 4, 1835. That’s when three gentlemen from Concord got together and decided there should be a bank for the average person. General Assembly of Massachusetts agreed, and that’s when the Middlesex Institution for Savings was born. That bank grew pretty much organically for about 100 years and then through a series of mergers, became known as Middlesex Savings Bank. Today with just over $6 billion in assets, we’re a combination of all of those banks,” said Dana Neshe, President, Chair & CEO.
And over the years as the bank has grown, the original vision that led to the creation of a mutual bank, where people, not profits, came first - remains intact.
“Middlesex is a mutual bank and what that means is that we don’t have shareholders. Without shareholders, we actually can put all of our focus on our customers and our communities. For 190 years, we’ve been able to maintain that focus. That means every decision that we make, everything we do, is focused on them and what they need.”
Delivering Quality Banking Services for Every Customer
Our commitment to excellence is evident in the wide range of high-quality products and services we’ve offered over the years. And most notably at the heart of the bank’s success are our dedicated employees who go above and beyond to support our customers - their expertise, commitment, and personalized service are invaluable assets that truly set Middlesex apart from other institutions.
As times have evolved, so have we - adapting to the changing needs of our customers while maintaining the same standards of service that have earned us their trust. From personal banking to business solutions, we continuously innovate to ensure our customers have access to the best tools to manage their financial futures.
“We’ve grown in a way that reflects our community, in addition to adding locations, we’ve added services – like commercial lending, cash management, and technology. And we’ve also added the Middlesex Savings Charitable Foundation as a way to support the community and the organizations therein.”
Giving Back: Strengthening our Community through Philanthropy
While our success has been built on solid financial products and a deep sense of mutuality, the most rewarding aspect of our journey has been our active role in supporting the community. From our early days, we understood that a bank’s responsibility goes beyond profits - it extends to the people it serves. Over the years, we’ve been proud to sponsor local events, support nonprofit organizations, and invest in programs that enhance the quality of life for our neighbors.
In 2000, The Middlesex Savings Charitable Foundation was created for just that reason. While also celebrating a milestone 25th anniversary this year, since its inception, the Foundation has provided over $17 million to nonprofits, services, and programs in education, public health and welfare, the arts, community development and scholarships for college-bound high school seniors within our community.
Our commitment to the community remains unwavering, and as we look toward the future, we are more determined than ever to make a positive impact. Whether through direct financial support or employee volunteering, we continue to champion the causes that matter most to those we serve.
Looking Ahead: A Future Built on Trust
As we celebrate our 190th birthday, we recognize that this anniversary is not just a reflection of our past, but a stepping stone toward a bright future. We are proud of our legacy, but we are equally excited about the next chapter.
"The reason that Middlesex is celebrating its 190th birthday is because we have continued to focus on the customer. So regardless of what’s going on in the economy or in the world around us - that is our north star, that is what guides us. And it’s the reason why we continue to be who we are, it’s the reason why we continue to be right there with you. And we will continue to be, hopefully for at least another 190 years.”