A Message From Our President & CEO

Peter Alden

From our humble beginnings in 1895 when a group of 114 spirited citizens pledged a total of $7,660 to establish a new savings bank in the city of Worcester, to today, as we have grown to a $500 million savings bank still headquartered in Worcester, Bay State Savings Bank continues to take pride in our roots.

Why is it important to bank local? By doing business with us, we can in turn make more loans to people in our community.  We can continue to support families as they purchase that first home, or save to send their children to college.  We can continue to support small businesses, as we did during the pandemic and with our participation in the paycheck protection program, which put much needed funds back to the hands of our neighbors who needed it most.

Our people live in the community, work in the community and participate in the community.  From providing local scholarships to teaching financial literacy, we are involved and invested.

Our customer service is exemplary.  We know our customers (and their families) by name.  We understand their financial goals and are always available to speak in person.  This personal knowledge helps us to tailor financial solutions designed specifically to you.

Every penny deposited here is 100% insured through the FDIC and DIF.  Your money is safe with us.  Every single cent.

So, I encourage you to see for yourself what makes banking local different.  Take a look at our website, and don’t hesitate to contact us with any questions you may have.

No matter if you’re just starting your financial journey, nearing retirement, or somewhere in the middle, call us, or stop by.

I look forward to seeing you soon.

Peter B. Alden, President & CEO
(508) 890-9014

View our 2021 Annual Report here.