Watertown Savings Bank

Watertown Savings Bank is an independent mutual savings bank that has served the Watertown area since 1870, offering personal checking and savings accounts, mortgages, business banking and financial planning. As a mutual, it focuses on its customers and community rather than Wall Street or quarterly profits, keeping deposits working locally through home loans, small business lending and support for schools and nonprofits. Lending decisions are made quickly and locally, and the bank does not sell its mortgages.

What sets the bank apart for many savers is full deposit insurance: beyond standard FDIC coverage, it belongs to the Depositors Insurance Fund, so every dollar on deposit is insured. A financial advisor helps customers plan and invest, and the Club 50 program brings members together for special events, travel and exclusive benefits. Employees volunteer about 1,800 service hours each year with some 250 local organizations, and the bank spotlights nonprofits such as Operation American Soldier.

What to Know

• The bank is headquartered in Watertown Square, and its mission includes remaining independent there.
• Its Waverley branch is relocating a short distance to Belmont in fall 2026.
• It is a member of the Arlington Chamber of Commerce.