BankGloucester
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.51% | Reward Checking | Reward Checking 1.83% - National Average |
| 1.46% | 3-year CD | 36 Months CD 1.85% - Synchrony Bank 36 Month CD |
| 0.81% | 2-year CD | 24 Months CD 1.65% - Synchrony Bank 24 Month CD |
BankGloucester is headquartered in Gloucester and is the 108th largest bank in the state of Massachusetts. It is also the 2,673rd largest bank in the nation. It was established in 1887 and as of March of 2017, it had grown to 44 employees at 2 locations. BankGloucester has a B+ health rating.
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Local Bank Review: BankGloucester (Mass)
We had to travel 1.5 hours in Mass to reach their main branch in Gloucester. At that time the RCA rate was 4.51%. They changed rate to 4.01% ($25K) one month after we opened three accounts (limit to three accounts per household). It is a small bank with personal customer service. Even though they have a small asset size ($171M), they are not picky at all about their debit card transactions (not like some banks). One of our favorite is that they give out a free set of (150) checks. We decided to keep our three accounts open due to their excellent customer service and free checks. Who knows, they may be the first to increase their rate one of these days.
Pros:
Easiness to open accounts
Free checks
Small debit transactions are ok (ten is the requirement)
Famous site for the Movie "Perfect Storm":-)
Cons:
Branch visit necessary
Local to Mass
There are only three CSRs, thus sometimes it will take longer to get service
Completely Inefficient
Opening an account with this bank has been a complete hassle. I waited over a week for a debit card, then another 5 days for the PIN to arrive. Still waiting for online banking to be approved after 6 days. Paid a visit to the bank for help but got no assistance...they have my money but I can't pay any bills. How does that make sense?
Data as of Q1 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 26536 |
| Year Established | 1887 |
| Employees | 44 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.46% |
| Return on Equity - YTD | 5.59% |
| Annual Interest Income | $2.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2017vs Q1 2016 | $234.7MM$223.4MM |
| Loans | Q1 2017vs Q1 2016 | $195.7MM$186.8MM |
| Deposits | Q1 2017vs Q1 2016 | $201.6MM$186.0MM |
| Equity Capital | Q1 2017vs Q1 2016 | $19.5MM$18.6MM |
| Loan Loss Allowance | Q1 2017vs Q1 2016 | $1.5MM$1.5MM |
| Unbacked Noncurrent Loans | Q1 2017vs Q1 2016 | $2.6MM$3.5MM |
| Real Estate Owned | Q1 2017vs Q1 2016 | $0$0 |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
30-Month CD, 2.12% APY
Always verify rates and promotions with the bank or credit union. We are not BankGloucester; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
BankGloucester Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.50% | - | - | Traditional IRA Statement Savings | |
| 0.25% | - | - | Passbook Savings | |
| 0.25% | - | - | Statement Savings | |
| 0.25% | - | - | Christmas Club Account |
BankGloucester Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.35%* | $100k* | - | Premier Plus Money Market | ||
| OTHER TIERS: 0.25% → Up to $100k | |||||
| 0.25%* | $10k* | - | Premier Money Market | ||
| OTHER TIERS: 0.10% → Up to $10k | |||||
| 0.25%* | $1k* | - | Personal Money Market | ||
| OTHER TIERS: 0.10% → Up to $1k | |||||
BankGloucester Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.51%* | - | $25k | Reward Checking | ||
| OTHER TIERS: 0.25% → $25k+ | |||||
| 0.25%* | $2,500* | - | Platinum Interest Checking | ||
| OTHER TIERS: 0.10% → Up to $2,500 | |||||
| 0.05% | - | - | Interest Checking | ||
BankGloucester CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.12% | $500 | - | 30 Months CD | ||
| 1.91%* | $50k* | - | 48 Months CD | ||
| OTHER TIERS: 1.76% → $500 - $50k | |||||
| 1.91%* | $50k* | - | 60 Months CD | ||
| OTHER TIERS: 1.76% → $500 - $50k | |||||
| 1.46%* | $50k* | - | 36 Months CD | ||
| OTHER TIERS: 1.31% → $500 - $50k | |||||
| 0.81%* | $50k* | - | 24 Months CD | ||
| OTHER TIERS: 0.76% → $500 - $50k | |||||
| 0.61%* | $50k* | - | 18 Months CD | ||
| OTHER TIERS: 0.51% → $500 - $50k | |||||
| 0.46% | $500 | - | 12 Months CD | ||
| 0.41% | $500 | - | 9 Months CD | ||
| 0.35% | $2,500 | - | 6 Months CD | ||
BankGloucester IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.12% | $500 | - | 30 Months IRA | ||
| 1.91%* | $50k* | - | 48 Months IRA | ||
| OTHER TIERS: 1.76% → $500 - $50k | |||||
| 1.46%* | $50k* | - | 36 Months IRA | ||
| OTHER TIERS: 1.31% → $500 - $50k | |||||
| 0.81%* | $50k* | - | 24 Months IRA | ||
| OTHER TIERS: 0.76% → $500 - $50k | |||||
| 0.61%* | $50k* | - | 18 Months IRA | ||
| OTHER TIERS: 0.51% → $500 - $50k | |||||
| 0.46% | $500 | - | 12 Months IRA | ||
| BankGloucester Locations | ||
|---|---|---|
| Bankgloucester | 160 Main Street | Gloucester, MA 01930 |
| Essex Branch | 15 Martin Street | Essex, MA 01929 |