About Us

We are proud to be a local bank with a strong financial foundation, a tradition of exceptional service, and a legacy of community involvement and service.

Bank History

The Winchester Savings Bank was established by the Massachusetts Legislature and incorporated on March 3, 1871. The first meeting of the Corporators was held in Lyceum Hall (the building at the corner of Main and Mt. Vernon Streets in Winchester) on July 11, 1871. The Bank first opened its doors for business on August 26, 1871, in a banking room on the north side of Main Street.

In 1880, the Bank moved to the second floor of the Brown and Stanton Block on Main Street, and remained there until 1892 when it moved into its newly constructed building at 26 Mt. Vernon Street. This building still stands today and is regarded as a historical building by the Winchester Historical Society. The Bank's main office was moved on December 10, 1979 to its present location at 661 Main Street. Since its founding in 1871, the Bank has grown into a full-service financial institution.

The Bank is an independent, mutual, state-chartered institution with a mission of meeting the financial needs of the communities which it serves. The Bank is directed by a Board of Trustees elected by the Bank's Corporators, a group of civic-minded, local individuals. Since the Bank is mutual, all profits from operations are reinvested in the Bank.

In 2012, Winchester Savings introduced a new logo that represents the three core values the Bank strives to embrace every day… Strength. Service. Community.

All deposits are insured in full by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). The Bank is an equal housing lender.

President's Message

Segerstrom In many ways, 2017 was a challenging year for Winchester Savings Bank, as it was for community banks throughout the country. Maintaining and growing core deposits when stock market performance is at an all-time high is even more difficult in a low-rate environment. Nonetheless, the Bank showed a 30% increase in the bottom line (before taxes) and continues to improve the breadth and depth of our loan portfolios.

The past year was not without significant highlights, including the launch of a new Loan Origination System, which integrates a user-friendly, online application site with a robust processing and underwriting system. It is designed to give consumers the resources and convenience they need to apply for any real-estate-secured credit from the Bank. On the retail side, we upgraded our online banking systems for both personal and business customers, as well as our mobile banking application. As part of our continuous effort to expand the services we offer to local businesses, we partnered with Merchant Consulting Group to provide merchant services, allowing business customers to accept credit card and debit card payments.

Winchester Savings Bank also implemented its first coordinated digital marketing campaign, using Facebook, Instagram, and Google AdWords Display Network to tell potential customers about our checking, CD, and online mortgage application offerings. Please look for tokenization (Apple Pay, Google Pay, and Samsung Pay) to roll out early in 2018.

As always, we are proud to be a local bank with a strong financial foundation, a tradition of exceptional service and a legacy of community involvement and support. For more than 145 years, Winchester Savings Bank has been an excellent place to keep your money safe; to speak with friendly, knowledgeable experts about financing a home, saving for the future, and guiding your business; and to access services that offer both value and convenience. You will always find someone here who will work with you to explore your options and help you make smart financial choices.

All of us here at Winchester Savings Bank wish you a healthy and prosperous 2018.

Peter J. Segerstrom
President and CEO