OneLocal Bank


Overview / Commentary
781-762-1800
11 Central Street
Norwood, MA 02062

Written by Jessica Merritt | Edited by Ali Cybulski | Published on 1/24/2025

OneLocal Bank is a Massachusetts bank with online banking and branch locations. It offers a comprehensive product suite for consumers and businesses and has four branch locations in Norwood, Foxboro, Norfolk and Plainville, Massachusetts. Since its founding in 1889, the bank has focused on delivering innovative services to the local community.

Checking, savings and certificate of deposit (CD) accounts are available from OneLocal Bank. Personal and auto loans, mortgages, and business banking extend product options beyond deposit accounts.

The bank’s Boundless checking account has no minimum balance requirement — after depositing at least $25 upfront — or monthly service charge. Customers also get unlimited ATM surcharge rebates.

OneLocal Bank offers competitive savings rates across a variety of accounts. A preview of some current rates:

• 0.05% to 0.10% annual percentage yield (APY) on the Advantage Checking personal account, with a minimum balance of $100,000 or more to earn the highest APY
• 3.00% to 3.75% APY on the high-yield money market account, with a minimum balance of $1 million or more to earn the highest APY
• up to 4.65% APY on a promotional CD account, with a minimum of $10,000 to open the CD and earn the highest APY

The bank has a robust digital platform with a user-friendly mobile app for monitoring accounts, making mobile deposits, setting up transfers, paying bills, setting alerts and more. Online banking offers many of the same features as the mobile app, but you can also track your spending.

You can contact OneLocal Bank’s customer service via phone, email or chat, or visit a branch. Reach live customer support at 781-762-1800 from 8:30 a.m. to 5 p.m. Eastern time Monday through Friday and from 8:30 a.m. to 12:30 p.m. Saturday ET. Email support is available 24/7.

Pros and cons of OneLocal Bank

Pros:

• Unlimited ATM surcharge rebates
• Long history of serving local customers — since 1889
• Competitive rates for savings accounts and CDs
• Well-rated mobile app for managing your finances anytime

Cons:

• Limited branch network with just four locations in Massachusetts
• Customer service limited to business hours
• Advantage Checking has monthly service charge, but waiver available

Reviews

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Health
A+

Health Grade Components

Overall
FDIC Certificate #26555
Year Established1889
Employees79
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD4.18%
Annual Interest Income$48.7MM
Assets and Liabilities
AssetsQ4 2024vs Q4 2023$965.7MM$925.9MM
LoansQ4 2024vs Q4 2023$814.3MM$772.1MM
DepositsQ4 2024vs Q4 2023$793.4MM$754.7MM
Equity CapitalQ4 2024vs Q4 2023$130.4MM$125.4MM
Loan Loss AllowanceQ4 2024vs Q4 2023$7.5MM$7MM
Unbacked Noncurrent LoansQ4 2024vs Q4 2023$407K$1.9MM
Real Estate OwnedQ4 2024vs Q4 2023$0$0
Rates

Sorry, we do not have rate data for OneLocal Bank.

Locations


OneLocal Bank Locations
Norwood Co-Operative Bank11 Central StNorwood, MA 02062

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