The Savings Bank
About
The Savings Bank, known as TSB, is a community bank based in Wakefield. It handles everyday banking for individuals and businesses, including checking through its TSB 365 account, which it pitches as the only checking account a customer needs, plus certificates of deposit, fixed-rate mortgages and home equity loans with a choice of 15- or 20-year terms. Through TSB Business Direct, local small businesses can apply for the financing they need.
Community giving is a visible part of the bank’s identity. The Donald E. Garrant Foundation, named for a former president, has funded financial literacy books for Wakefield’s six elementary school libraries, an economics curriculum for teachers, banking-themed materials for special education students and resources for a student stock market challenge. Separately, The Savings Bank Charitable Foundation awards grants to area nonprofits, recently supporting 24 organizations in a single round.
What to Know
- Don Garrant served as the bank’s president from 1980 to 1992, and his foundation was established in 2001.
- Branches include locations in Wakefield’s Greenwood neighborhood and in Lynnfield, where the bank has operated for 50 years.
- The Garrant Foundation supports K-12 schools and nonprofits focused on banking, saving, investing and credit education.
- Customers can open accounts online and book appointments with bank staff.
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