What is a community bank? As the word "community" implies, we come together to serve the needs of our customers and neighbors, not stockholders. At BankFive, we are here for the people and businesses that make up our community, because they are here for us.
Whether you're thinking about switching to a new bank, preparing to buy your first home, looking for business financing solutions, or if you just need some financial advice, BankFive is here to help.
Here are some things that we believe make us different from the "big banks":
We're a mutual savings bank.
What is a mutual savings bank? A mutual bank is similar to a credit union, in that it is owned by its account holders, and not by shareholders like commercial banks. Because mutual banks aren't focused on producing large stock returns, they tend to have a larger focus on community involvement and betterment. While commercial banks are typically managed by a board of directors chosen by stockholders, the board of directors at BankFive consists of local leaders who live and work in our community. They are selected by a group of Corporators who are BankFive customers that represent our customers.
We reinvest local dollars back into our community.
When our Massachusetts and Rhode Island customers deposit money at BankFive, those dollars are used to fund the loans we issue locally. This local reinvestment helps our SouthCoast and Rhode Island neighbors get the funds they need to buy homes, finance major purchases, and grow local small businesses.
We give back.
Our employees volunteer thousands of hours each year to local community organizations like the United Way of Greater New Bedford, the United Way of Greater Fall River, YMCA Southcoast, the Salvation Army, East Bay Warriors Pop Warner Football, Leadership SouthCoast, One Southcoast Chamber, Credit for Life, Junior Achievement, and many more!
Our customers are more than just an account number.
We take pride in building personal relationships with our customers. We're focused on their needs and welcome their feedback every step of the way. While we love hearing about a job well done, we're equally interested in hearing about what we can do better. Customer feedback helps us grow, improve our processes, and provide the best customer service possible.
We tailor our products to fit the unique needs of our community.
Our employees work and live in the communities we serve, and that helps us understand the types of financial products our customers are looking for. We partner with local organizations like Mass Save and Rhode Island Energy to help provide our MA and RI neighbors with interest-free HEAT loans to make their homes more comfortable and energy-efficient. We work with MassHousing and Rhode Island Housing to offer more flexible low- and no-down payment mortgage loans. We make saving fun for children by offering The Nickels Savings Account for Kids, and we make it exciting for adults with our Lucky Piggy Savings account.
The small businesses we serve aren't just our customers, they're our partners.
We know that the small businesses we serve are the lifeblood of our community, and we aim to treat them as the valued business partners they are to us. When the small businesses in our community thrive, our towns and cities thrive. We're proud of the work that our business customers do, and we celebrate them every chance we get.
I called customer service to delay my automatic mortgage payment by 1 day. I called 4 days before it was due and you were able to delay it by 1 day so I'm completely satisfied with my experience. Thank you BankFive!
I have been a customer of Bank Five for many decades. I have NEVER been dis-satisfied with any situation. In fact, all issues over the years have been handles with complete professionalism and to my satisfaction.
Banking the way it was meant to be and should be done. At BankFive I always felt and feel that they appreciate my business. I never felt this with other banks. At the Faunce Corner Rd. branch in Dartmouth the staff is simply amazing. Love banking there.
Do not use email to send us confidential or sensitive information such as passwords, account numbers or social security numbers. If you need to provide this type of information, contact us by phone, fax or regular mail. By clicking this link, you will be sent to your preferred email application. Are you sure you want to navigate away from this page?