Avidia Bank


Overview / Commentary
978-562-2222
42 Main Street
Hudson, MA 01749

From the Bank

Avidia Bank provides the best in banking to consumers and businesses and is a proud community partner. Formed in 2007 by a merger between Hudson Savings Bank and Westborough Bank, Avidia Bank is now a $1.2 Billion mutual community bank headquartered in Hudson, MA. It has branches in Hudson, Westborough, Clinton, Marlborough, Northborough, Shrewsbury, Leominster and is opening soon in Framingham.

With investments in technology, Avidia offers Mobile banking with check deposit, bill pay, transfers, and the option to pay other people electronically.

The bank is very passionate about communities it serves in and helps out area organizations through the Avidia Charitable Foundation as well as through the Bank itself.

Framingham Bank

Posted by: |

New bank they opened in Framingham looks great and customer service was great. There is ample parking and in a convenient location.

Love Shrewsbury Avidia

Posted by: |

For years I've been banking with Avidia, particularly the Shrewsbury branch. All the folks in there make you feel like family. From Judy to Roya, Marguerite to Gargi, they always have a smile and a moment to chat.

Keep up the great work Ladies. I look forward to seeing you whenever I do my banking!

Great People, Totally Absurd Online Banking Experience

Good luck to anyone seeking an easy, straightforward online banking experience with Avidia. In my experience, it's pure imbecilic torture. I am all in favor of whatever degree of security a bank wants to impose on its systems. If a bank wants to go to the Fort Knox level, by all means, go ahead. However, there's an intelligent and logical way to go about doing it. Avidia did not get the memo on this. None of the other banks I deal with come anywhere close to Avidia in terms of how cumbersome and difficult they make online banking. All totally unnecessary and avoidable. Great CS phone reps - I feel badly for them having to defend and find workarounds for such poorly conceived internal systems.

Deceptive Sales Practices: Huge Penalties

Posted by: |

Our preferred bank (NOT Avidia) charges 50% of one year's interest as a penalty for early withdrawal of a CD. We had thought that was a norm. What an awakening! Without any clear statement, and nothing at all on its website, Avidia has charged us 50% of the FULL CD TERM's interest, including both past and future.

We recently lost $675 in penalties when our preferred bank's penalty policy is 50% of one year's interest. No warning, no disclosure other than the weasel words in the contract, no mention at time of withdrawal. Just WHAM, 50% of the full term interest.

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Health

Health Grade Components

Overall
FDIC Certificate #90215
Year Established1869
Employees247
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.55%
Return on Equity - YTD5.64%
Annual Interest Income$53.4MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$2.01B$1.66B
LoansQ3 2020vs Q3 2019$1.51B$1.25B
DepositsQ3 2020vs Q3 2019$1.76B$1.41B
Equity CapitalQ3 2020vs Q3 2019$188.2MM$173.1MM
Loan Loss AllowanceQ3 2020vs Q3 2019$14.3MM$12.5MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$9.9MM$10.8MM
Real Estate OwnedQ3 2020vs Q3 2019$0$283.00K
Rates

Rates for Avidia Bank are currently being reviewed.

Locations


Cities: Clinton, Framingham, Hudson, Leominster, Marlborough, Northborough, Shrewsbury, Westborough

Clinton Branches
Clinton Branch1073 Main StreetClinton, MA 01510

Framingham Branches
Framingham Branch270 Cochituate RoadFramingham, MA 01701

Hudson Branches
Hudson Shopping Center Branch221 Washington StreetHudson, MA 01749
Avidia Bank42 Main StreetHudson, MA 01749
Hudson Loan Center Branch17 Pope StreetHudson, MA 01749

Leominster Branches
Leominster Branch470 Lancaster StreetLeominster, MA 01453

Marlborough Branches
Marlborough Branch256 Maple StreetMarlborough, MA 01752

Northborough Branches
Northborough Branch53 West Main StreetNorthborough, MA 01532

Shrewsbury Branches
Shrewsbury Branch23 Maple AvenueShrewsbury, MA 01545

Westborough Branches
Westborough Savings Bank Branch100 East Main StreetWestborough, MA 01581

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