Norway Savings Bank

Overview / Commentary
261 Main Street
Norway, ME 04268

Norway Savings Bank is headquartered in NORWAY and is the 7th largest bank in the state of Maine. It is also the 614th largest bank in the nation. It was established in 1866 and as of December of 2023, it had grown to 310 employees at 24 locations. Norway Savings Bank has a B+ health rating.

Reviews (8)

A Different Kind Of Bank

Posted by: |

The individualized service and professionalism we've experienced at Norway Savings just can't be matched at other banks. They know you by name and are always happy to help. After many mortgages, refi's and daily transactions, we couldn't be happier.

Customer Service With Norway Bank

Posted by: |

I think the Norway Bank customer service reps. are excellent. They are very responsive. One time I was locked out of the online access and the representative called me back after they had worked with me to get access just to make sure I got into my accounts since it was a Saturday. I think they are great!

Can't Sign In

Posted by: |

When I try to login to my account I frequently, like 1 out of three times, get the message “We are having technical difficulties. Try again later or contact your system administrator”.
Waiting and repeated tries eventually get me in.
This has happened for the years I’ve had the account.
With the new ‘Two factor Authorization’ I get the message I will receive a phone call on my landline with the code to get in, The Phone call never comes.
It also says to choose phone call or text but there is no button to choose text.
I called customer service twice. The first to change to my new smart phone number and be assured I’d receive a text to it after a half an hour. I didn’t and again said I’d receive a phone call.
My second call told me to click continue to receive a phone call. I did and I didn’t.
My wife wants to change banks but there is only one other with a local office so I’m in hope this review will cure everything.

Norway Savings Should Show More Concern For The Welfare Of Their Clients

Posted by: |

A while back, I deposited some checks into Norway Savings that brought my balance up into the six digit figures.
Like many others, I do not have experience at handling this much money so I asked them if they could put me in contact with a financial advisor or a trustee for clients estates.

They told me I had to have at least $250,000 in order for them to help me with investing and protecting my money. I think this approach is cold and heartless.

They showed a blatant lack of concern about the huge amount of money I had in savings. I know now that having tens of thousands of dollars in a savings account is dangerous unless it's only there for a short span of time.

After the first time I asked, I brought it up again and begged and pleaded with them to help me in some way. They still reminded me that I did not have enough money for them to offer up any protection.

I have a whole history of financial abuse. I do not think I should have to beg them for guidance.

They really need to create a list of resources that clients like me could tap into.
I also think they should offer classes on financial management and should also try to think with you instead of being indifferent.

They never offered up any assistance outside of a CD that does not even keep pace with inflation.

I have been banking with them for several years and almost everyone working at the counter was always friendly and helpful. I can see now that I should not have taken this at face value.

I think Norway Savings Bank should go out of their way to protect their clients. I do not think anyone should need to have money in the six-digit figures to get some form of protection from them.

They really need to change their attitude toward clients who ask them for help.

Useless Atms

Everytime I go to the naples branch and try to use their ATM, theres always a problem.

I either cant get access to my money or even make a deposit, its frustrating to drive an hour total to waste valuable time, so now I have to make another hour trip to see a teller so I can deposits.

Time to ditch this fail bank

Unprofessional Banking Experience

Posted by: |

Worse banking experience ever! A manager offered legal advice on my account. It is illegal, for a bank teller to pose as an attorney. I reported this person to headquarters in Portland, Maine. They offered no recourse.

They also made it difficult to close my account and transfer my money to new account.

Stay away from this bank! I would never do business with this bank again.

Given the option they would get no stars.

Software Engineer

Posted by: |

First) I moved to Maine and opened a checking account at Norway as part of that move.
It took 2 weeks to get checks and the debit card, I had no access to my money for 2 weeks, except by going to the bank and getting cash.
Second) After 4 weeks of having account, I was stranded, low on fuel and bank computers were down, couldn't get gas.
Third) Needed a new laptop for my work, purchase was declined, plenty of funds. Don't know why???
Forth) Can't get access to my on line account, and no help on this over the weekends.

This has been, by far, the worst banking experience I have ever had.

Refi Takes Forever And A Day

Posted by: |

Incredibly slow turnaround.  They never get back to you.  I have to do all the follow up. What should have been simple takes them twice as long as the local credit union.  I thought because I financed with them the first time that a refi would be simpler to stay with them.... wrong.  It was like starting from scratch and they asked me to provide paperwork that they already had.


Health Grade Components

FDIC Certificate #17658
Year Established1866
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.77%
Return on Equity - YTD7.19%
Annual Interest Income$76.6MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$1.87B$1.8B
LoansQ4 2023vs Q4 2022$1.3B$1.21B
DepositsQ4 2023vs Q4 2022$1.49B$1.53B
Equity CapitalQ4 2023vs Q4 2022$208.6MM$187.9MM
Loan Loss AllowanceQ4 2023vs Q4 2022$9.2MM$8.4MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$8.8MM$874K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Norway Savings Bank; 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.

Norway Savings Bank Savings Account Rates

0.20%*$50k*-Health Savings Account
OTHER TIERS: 0.03% Up to $5k | 0.07% $5k - $10k | 0.12% $10k - $25k | 0.15% $25k - $50k
0.15%*$100k*-Savings Solutions
OTHER TIERS: 0.03% Up to $2.5k | 0.05% $2.5k - $25k | 0.08% $25k - $50k | 0.10% $50k - $100k
0.10%*$50k*-inBusiness Premium Savings
OTHER TIERS: 0.03% Up to $2.5k | 0.05% $2.5k - $25k | 0.08% $25k - $50k
0.05%$25-IRA Savings
0.03%$25-Basic Savings
0.03%$25-Go>2 Savings
0.03%$25-Statement Savings

Norway Savings Bank Money Market Rates

0.40%*$250k*-inBusiness Money Market Savings
OTHER TIERS: 0.01% Up to $2.5k | 0.05% $2.5k - $25k | 0.10% $25k - $100k | 0.30% $100k - $250k
0.15%*$100k*-Money Market Account
OTHER TIERS: 0.03% Up to $2.5k | 0.05% $2.5k - $25k | 0.08% $25k - $50k | 0.10% $50k - $100k

Norway Savings Bank Checking Account Rates

0.50%*$2.5k*$25kFull Solutions Checking
OTHER TIERS: 0.15% $25k+
0.20%*$250k*-Flexible Solutions Checking
OTHER TIERS: 0.05% $2.5k - $25k | 0.10% $25k - $100k | 0.15% $100k - $250k

Norway Savings Bank CD Rates

1.11%$500-5 Year Premium CD
0.95%$500-5 Year Basic CD
0.70%$500-4 Year Premium CD
0.65%$500-4 Year Basic CD
0.60%$500-3 Year Premium CD
0.50%$500-3 Year Basic CD
0.40%$500-2 Year Premium CD
0.30%$500-1 1/2 Year Premium CD
0.30%$500-2 Year Basic CD
0.25%$500-1 Year Premium CD
0.25%$500-1 1/2 Year Basic CD
0.20%$500-6 Month Premium CD
0.20%$500-1 Year Basic CD
0.15%$500-91 Day Premium CD
0.15%$500-6 Month Basic CD
0.10%$500-91 Day Basic CD

Norway Savings Bank IRA Rates

1.11%$500-5 Year Premium IRA
0.95%$500-5 Year Basic IRA
0.70%$500-4 Year Premium IRA
0.65%$500-4 Year Basic IRA
0.60%$500-3 Year Premium IRA
0.50%$500-3 Year Basic IRA
0.40%$500-2 Year Premium IRA
0.30%$500-1 1/2 Year Premium IRA
0.30%$500-2 Year Basic IRA
0.25%$500-1 Year Premium IRA
0.25%$500-18 Month Variable IRA
0.25%$500-1 1/2 Year Basic IRA
0.20%$500-1 Year Basic IRA


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.