Watertown Savings Bank

Safe and secure since 1870, Watertown Savings Bank is the hometown mutual savings bank of Watertown, offering everyday checking and savings, home mortgages and business loans. It emphasizes banking with familiar faces, the same people answering the phone and serving customers for years. Being a mutual means the bank focuses on its community rather than Wall Street or quarterly profits, and its stated mission is to remain independent and headquartered in Watertown.

The bank’s money stays local, funding home purchases, small businesses and support for neighborhood schools and nonprofits. All deposits are fully insured through FDIC coverage combined with membership in the Depositors Insurance Fund. Mortgages are kept in house rather than sold, and decisions are made by local staff. The Club 50 program offers members events and travel experiences, and employees log about 1,800 volunteer hours a year with roughly 250 community groups.

What to Know

• A financial advisor offers customers personalized planning and investment strategies.
• The bank spotlights local nonprofits such as Operation American Soldier, which sends care packages to deployed troops.
• Its Waverley branch is relocating a short distance to Belmont in fall 2026.
• The bank is a member of the Watertown Business Coalition.