Dear Middlesex Savings Bank Customers,
In these unprecedented and challenging times, it’s important to remind ourselves of the people and institutions we can count on, time after time. For customers of Middlesex Savings Bank, one constant that remains as true today as it has been throughout our 185 year history, is the Bank’s commitment to remain a mutual institution.
Customers who have been with us for decades know that as a mutual bank, we will always try to do right by them. For customers less familiar with our mutual charter, simply put, a mutual bank does not have outside public shareholders. As such, our focus is always on our customers, colleagues and the community; we are here to service your needs above all else.
We believe this commitment is more important than ever. The ongoing pandemic has clearly had an impact on our household and business customers, as well as the community at large. To help alleviate some of the burden, here are just a few things we have done and are doing:
- Through the Middlesex Savings Charitable Foundation, established a $1 million relief fund to aid local nonprofit organizations impacted by COVID-19;
- Supported over 1,500 of our business customers through the SBA’s Paycheck Protection Program, which in turn helped protect over 12,000 jobs within the Commonwealth;
- Provided continuous, safe, in-person banking transactions through our drive-thru lanes, and recently re-opened our 30 branch lobbies with enhanced safety measures to protect our customers and colleagues;
- Working with individual and business customers to navigate the financial challenges brought on by the pandemic.
Additionally, with more customers dependent on the ability to conduct their banking remotely, we have remained focused on enhancing our technology to further improve the experience. In addition to continually supporting customers with our online banking tools, we recently launched new online account applications for consumer deposit and loan products, and a chat function on our website. A complete redesign of the Bank’s website is due to launch near the end of the year.
With no outside shareholders, Middlesex Savings Bank is in control of its own future. We are committed to remaining independent, guarding our core values and living up to our founding mission of supporting our customers, our colleagues and our communities.
Though the pandemic has forced us to change how we do some things, our colleagues continue to show up every day to serve our customers in the best way we know how. As we move forward together in what could be some very challenging economic times, you can be certain that Middlesex will do all we can to be right there with you.
Be well and stay safe.
President & CEO