VALUES THAT STAND THE TEST OF TIME.
Since the day we opened our doors over 180 years ago, we have focused on meeting the changing needs of our customers and the communities they live in. As one of the largest mutually owned savings banks in the country, we have no shareholders, so we can always put our customers first. That will never change.
THE EARLY DAYS
We were founded as Middlesex Institution for Savings in 1835 in the Town of Concord. It was a time when banking focused more on businesses than on consumers. Our founders, not uncommon for residents of Concord at the time, in an act of true community spirit, set out to create a bank where people of modest means, who had no other alternatives, could have a safe place to save.
MUTUAL AND INDEPENDENT
Our founders chose to charter the bank under a mutual format. That meant there would never be any outside shareholders whose interest might take precedence over the needs of average community residents.
And while the original business purpose has been expanded upon since those early days, the ownership model has served the bank, its customers, and its communities very well.
TESTED OVER TIME
Over the years we have stayed true to our core values. We weathered the Great Depression, not to mention a few New England storms. Towns and communities west of Boston grew and so did we. Today we are stronger than ever as a profitable bank with branches throughout the MetroWest region, with over $4 billion in assets and capital well in excess of regulatory minimums.
While we have remained committed to our mutual charter, we have also grown substantially over the years by joining with other regional community banks.
In 1982, we merged with the Natick Five Cents Savings Bank, forming Middlesex Savings Bank. Our headquarters moved to downtown Natick, to the former Natick Five Cents building.
Over the next 25 years or so, we continued to grow, opening new community branches, and merging with Assabet Institution for Savings in Maynard in 1988 and Strata Bank (formerly Medway Savings Bank) in 2009.
This growth allows us to continue to deliver on the promise of community banking to residents and business owners throughout the MetroWest region