BankGloucester

Popular Accounts at this Bank

APY	ACCOUNT TYPE	ACCOUNT NAME
1.51%	Reward Checking	Reward Checking 1.95% - National Average
1.46%	3-year CD	36 Month CD 2.50% - Ally Bank High Yield 3 Year CD
0.81%	2-year CD	24 Month CD 2.35% - Ally Bank Raise Your Rate 2-Year CD

View all BankGloucester rates »

Overview / Commentary

www.bankgloucester.com

978-283-8200

160 Main Street
Gloucester, MA 01930

BankGloucester is headquartered in Gloucester and is the 103^rd largest bank in the state of Massachusetts. It is also the 2,533^rd largest bank in the nation. It was established in 1887 and as of March of 2018, it had grown to 46 employees at 2 locations. BankGloucester has a B+ health rating.

Local Bank Review: BankGloucester (Mass)

Posted by: 51hh | Jun 19, 2010

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

Comment

2

Completely Inefficient

Posted by: Anonymous | May 12, 2012

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?

Comment

3

Health

B+

Data as of Q1 2018

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	26536
Year Established	1887
Employees	46
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.33%
Return on Equity - YTD	3.93%
Annual Interest Income	$2.6MM

Assets and Liabilities
Assets	Q1 2018vs Q1 2017	$247.9MM$234.7MM
Loans	Q1 2018vs Q1 2017	$207.3MM$195.7MM
Deposits	Q1 2018vs Q1 2017	$212.0MM$201.6MM
Equity Capital	Q1 2018vs Q1 2017	$20.7MM$19.5MM
Loan Loss Allowance	Q1 2018vs Q1 2017	$1.6MM$1.5MM
Unbacked Noncurrent Loans	Q1 2018vs Q1 2017	$2.5MM$2.6MM
Real Estate Owned	Q1 2018vs Q1 2017	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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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
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
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
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
2.78%	$50k	-	60 Month CD
2.78%	$500	$50k	60 Month CD Special
2.52%^*	$50k^*	-	48 Month CD
OTHER TIERS: 2.42% → $500 - $50k
1.46%^*	$50k^*	-	36 Month CD
OTHER TIERS: 1.31% → $500 - $50k
1.41%	$500	-	18 Month CD
1.10%^*	$50k^*	-	30 Month CD
OTHER TIERS: 1.00% → $500 - $50k
0.81%^*	$50k^*	-	24 Month CD
OTHER TIERS: 0.76% → $500 - $50k
0.46%	$500	-	12 Month CD
0.41%	$500	-	9 Month CD
0.35%	$2,500	-	6 Month CD

BankGloucester IRA Rates

APY	MIN	MAX	ACCOUNT NAME
2.52%	$50k	-	48 Month IRA
2.42%	$500	$50k	48 Month IRA Special
1.46%^*	$50k^*	-	36 Month IRA
OTHER TIERS: 1.31% → $500 - $50k
1.40%	$500	-	18 Month IRA
1.10%^*	$50k^*	-	30 Month IRA
OTHER TIERS: 1.00% → $500 - $50k
0.81%^*	$50k^*	-	24 Month IRA
OTHER TIERS: 0.76% → $500 - $50k
0.46%	$500	-	12 Month IRA

Locations

BankGloucester Locations
Bankgloucester	160 Main Street	Gloucester, MA 01930
Essex Branch	15 Martin Street	Essex, MA 01929

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