Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
30 Middlesex St.
Lowell, MA 01852

In 1892, Washington Savings Bank made its first home in Lowell, MA. With the growing success of the Bank, two more branches were added in Dracut and Tyngsboro in 1997 and 1998 to help them better serve the Greater Lowell community.

Now as the community continues to grow and consumers search for more banking options, Washington Savings Bank strives to meet those needs with the community banking perspective their customers have grown to love and innovative products and services that only be found at Washington Savings Bank.

Related Posts

Reviews (3)

Great Rates- Beware Hard Credit Inquiry!

This is a great bank with great customer service and the best checking accounts in the country.  Even if you aren't a saver, they offer other excellent rewards checking accounts based on debit card or itunes bonuses.

No real complaints about this bank, but beware of the hard credit inquiry.  I've heard of those for getting loans, but who ever heard of them for giving?

Also, you have to be a resident of MA or NH to qualify.  Highly reccomend this bank.

Good Luck!

Small bank which decides when to be open and when to close on their own terms. No ATM access, except on site. ATM deposits and teller deposits (non cash), not available for days on end, resulting in a check to check persons' nightmare.

I had dealt with this bank because the interest on their savings accounts were great (2%), though learned the hard way that a check to check lifestyle is not the one to enjoy this wonderful interest.

Receiving numerous fees from me, you would think this bank would greet me with champagne each time I actually make it to their door. Not the case! I deposited a payroll check from someone I had 1099 work with, to this ultimately bouncing 5 days later. The bank vice president proceeds to threaten me with "check fraud" and that he would notify the police and other authorities. I worked out a payment arrangement in the interim, since I had caught up on bills with thsi money. I was also given a 5 paragraph letter ending with the vice president himself suggesting that I switch banks once my balance is paid.

As a small bank, you would think they would have a heart for people. Not the case with large or small banks, lesson learned.

My suggestion: if you are not an established saver, keep your money under your mattress. You will save more that way than with this bank- besides, you won't be insulted along the way either.

Great Accounts

I am new to Lowell, MA, and thought Washington Savings Bank had the best deal on their free Interest Rewards checking. If I meet the requirements I get 3% and ATM refunds. Nice friendly people too. I wish their Lowell location had a drive up window though, but I guess that's what you get for a city branch. Saturday hours are great too.


Data for Q2 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 Washington Savings Bank (MA) had $1.36 million in non-current loans and owned real-estate with $19.55 million in equity and loan loss allowances on hand to cover it. This gives Washington Savings Bank (MA) a Texas Ratio of 6.94% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Washington Savings Bank (MA) experienced no significant changes from 7.49% as of June 30, 2013 to 6.94% as of June 30, 2014, resulting in a positive change of 7.35%.This indicates that the balance sheet and financial strength for Washington Savings Bank (MA) has had no significant changes in recent periods.

Deposit Growth


In the past year, Washington Savings Bank (MA) has increased its total deposits by $4.31 million, resulting in 2.97% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Washington Savings Bank (MA) has shown is above average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Washington Savings Bank (MA) has $193.02 million in assets with $19.55 million in equity, resulting in a capitalization level of 10.13%, which is above average.

Institution Statistics

FDIC Certificate #90229
Year Established1892
Primary RegulatorFED
Assets and Liabilities
Assets$193.02 million
Loans$128.89 million
Deposits$149.29 million
Equity Capital$18.53 million
Loan Loss Allowance$1.02 million
Unbacked Noncurrent Loans$1.36 million
Real Estate Owned$0
Historic Data - June 2013
Assets$187.96 million
Equity Capital$18.09 million
Loan Loss Allowance$1.03 million
Unbacked Noncurrent Loans$1.36 million
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.2%
Return on Equity2.06%
Interest Income$3.20 million

Always verify rates and promotions with the bank or credit union. We are not Washington Savings Bank (MA), we are a rate comparison website and can not provide official rates or promotions.

Washington Savings Bank (MA) Savings Account Rates

1.26%-$15kSaver Rewards - Qualifying
0.10%--Christmas Club
0.05%$50-Passbook Savings
0.05%$50-Statement Savings
0.05%--Vacation Club
0.05%--Saver Rewards - Non Qualifying
0.05%$50-Business Passbook Savings
0.05%$50-Business Statement Savings

Washington Savings Bank (MA) Money Market Rates

0.56%$100k-Money Market Account
0.56%$100k-Business Money Market Account

Washington Savings Bank (MA) Checking Account Rates

2.53%-$10kInterest Rewards Checking - Qualifying
2.53%-$10kBusiness Rewards - Qualifying
0.71%$100k-Interest Business Checking
0.05%--Interest Rewards Checking - Non Qualifying
0.05%--Business Rewards - Non Qualifying

Washington Savings Bank (MA) CD Rates

1.22%$500-5 Year Certificate
1.22%$500-5 Year Business Certificate
1.02%$500-3 Year Certificate
1.02%$500-3 Year Business Certificate
0.87%$500-2½ Year Certificate
0.87%$500-2½ Year Business Certificate
0.71%$500-2 Year Certificate
0.71%$500-2 Year Business Certificate
0.51%$500-1½ Year Certificate
0.51%$500-1½ Year Business Certificate
0.41%$500-12 Month Certificate
0.41%$500-12 Month Business Certificate
0.30%$500-9 Month Certificate
0.30%$500-9 Month Business Certificate
0.25%$2,500-6 Month Certificate
0.25%$2,500-6 Month Business Certificate
0.10%$2,500-7-31 Day Certificate
0.10%$2,500-91 Day Certificate
0.10%$2,500-7-31 Day Business Certificate
0.10%$2,500-91 Day Business Certificate

Washington Savings Bank (MA) IRA Rates

0.71%$500-2 Year Fixed Rate IRA
0.51%$500-18 Month Fixed Rate IRA
0.51%$500-18 Month Variable Rate IRA

Washington Savings Bank (MA) Locations
Dracut Branch100 Broadway RoadDracut, MA 1826
Washington Savings Bank30 Middlesex StreetLowell, MA 1852