Norwood Bank

Overview / Commentary

781-762-1800

11 Central Street
Norwood, MA 02062

From the Bank

Since its founding in 1889, Norwood Bank has been a pioneer in providing innovative banking services. We take pride in offering people and businesses the services they needed to fulfill their dreams of buying a home, creating financial stability and planning for the future. Over the years, Norwood Bank created new checking, savings, retirement, mortgage and investment products to help people and businesses meet their financial goals.

As banking technology grew more sophisticated, the Bank introduced the concept of Boundless Banking. Powered by a national network of fee-free ATMs and the latest in mobile and online banking, Boundless is an illustration of the Bank’s commitment to giving their customers the freedom to bank however, and wherever, they choose.

Big-bank products and services combined with community-bank personal service—that’s the Norwood Bank difference.

View all posts from:

2016
2015

11/5 - Norwood Bank (MA) Raises 16-Month CD Special Rate
3/4 - Norwood Bank (MA) Raises Rate On 16-Month CD Special

6/15 - Norwood Bank (MA) Introduces Competitive 16-month CD Special

Reviews (1)

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Valerie Germano

Posted by: vgermano | Mar 10, 2022

I got hired at Norwood Bank but at the time being I wasn't vaccinated when I had applied, when I applied online it did not say anything about being vaccinated on (indeed) the HR Manager calls me letting me know I had to be vaccinated otherwise, they weren't able to hire me with that being said I did my vaccination within a couple of days and advised the HR Manager and made a copy of my Vaccination Card and scanned it to her and she advised me I was all set!, the very next day the HR Manager calls me and advises me that they needed to dismiss my Employment Application because at the time being when I had applied I wasn't vaccinated and they would have to dismiss my application and to go ahead and re-apply again on (indeed) now that I had taken the vaccine I should be good by re-applying, so I went ahead and applied the same day online the HR Manager emails me the very next day letting me know they already filled the (3) positions they had available but they would keep my application on file. I was so upset and I said to myself this is how Norwood Bank treats people!!, well it's true what they say " Things happen for a reason! " I responded back to the HR Manager letting her know not to bother keeping my application on file I also, advised her that when I first applied online it did not say anything about me being vaccinated, when I applied the second time Norwood Bank added this question "Are you are vaccinated" with that being said I am not happy with Norwood Bank it wasn’t right how they treated me!!
I did my vaccination and they still dismissed my application. Norwood Bank is so unprofessional I cannot even image how they would treat their customers?? I am also, going to complain to the Better Business Bureau because this is not correct how they do things ...

Comment

Health

A+

Data as of Q4 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	26555
Year Established	1889
Employees	50
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.1%
Return on Equity - YTD	8.32%
Annual Interest Income	$22.9MM

Assets and Liabilities
Assets	Q4 2021vs Q4 2020	$707.8MM$630.0MM
Loans	Q4 2021vs Q4 2020	$498.8MM$494.2MM
Deposits	Q4 2021vs Q4 2020	$589.6MM$513.4MM
Equity Capital	Q4 2021vs Q4 2020	$93.2MM$85.6MM
Loan Loss Allowance	Q4 2021vs Q4 2020	$5.4MM$5.2MM
Unbacked Noncurrent Loans	Q4 2021vs Q4 2020	$1.9MM$2.6MM
Real Estate Owned	Q4 2021vs Q4 2020	$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 Norwood 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.

Norwood Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%	-	-	Personal Statement Savings Account
0.10%	-	-	Non-Personal Statement Savings Account
0.10%	-	-	iBoundless Savings Account

Norwood Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%^*	$100k^*	-	High Yield Money Market Account - New Money
OTHER TIERS: 0.10% → Up to $10k \| 0.15% → $10k - $25k \| 0.20% → $25k - $50k \| 0.25% → $50k - $100k
0.35%^*	$100k^*	-	iYield Money Market - New Money
OTHER TIERS: 0.10% → Up to $10k \| 0.15% → $10k - $25k \| 0.20% → $25k - $50k \| 0.25% → $50k - $100k

Norwood Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%^*	$100k^*	-	Advantage Checking
OTHER TIERS: 0.05% → Up to $100k
0.10%^*	$100k^*	-	Non-Personal Advantage Checking
OTHER TIERS: 0.05% → Up to $100k

Norwood Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.65%	$1k	-	60 Month Regular CD
0.65%	$1k	-	60 Month Non-Personal CD
0.55%	$1k	-	24 Month Regular CD
0.55%	$1k	-	24 Month Non-Personal CD
0.50%	$1k	-	36 Month Regular CD
0.50%	$1k	-	48 Month Regular CD
0.50%	$1k	-	36 Month Non-Personal CD
0.50%	$1k	-	48 Month Non-Personal CD
0.50%	$1k	-	17 Month iCertificate
0.40%	$1k	-	12 Month Non-Personal CD
0.35%	$1k	-	12 Month Regular CD
0.30%	$2.5k	-	6 Month Regular CD
0.30%	$2.5k	-	6 Month Non-Personal CD
0.20%	$2.5k	-	3 Month Regular CD
0.20%	$2.5k	-	3 Month Non-Personal CD

Norwood Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.65%	$1k	-	60 Month Regular IRA
0.55%	$1k	-	24 Month Regular IRA
0.50%	$1k	-	36 Month Regular IRA
0.50%	$1k	-	48 Month Regular IRA
0.35%	$1k	-	12 Month Regular IRA
0.30%	$2.5k	-	6 Month Regular IRA
0.20%	$2.5k	-	3 Month Regular IRA