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News & Events

SBA COVID-19 Relief Scams and Fraud Alerts

Please be aware of a variety of malicious attempts by cyber-criminals taking advantage of the Small Business Administration (SBA)’s COVID-19 relief efforts to gather sensitive information and steal funds from businesses. Always think before you click! Grants/Loans The SBA does not initiate contact on either loans or grants.  If you are proactively contacted by someone...

Gorham Savings Bank Maine Marathon Goes Virtual

Due to the ongoing uncertainty surrounding the COVID-19 pandemic, the 2020 Gorham Savings Bank Maine Marathon, Half Marathon, and Relay, originally scheduled for Sunday, October 4, will take place virtually over two weeks. Title sponsor Gorham Savings Bank will cover all virtual race costs incurred so that every virtual entry fee dollar can be donated...

You Win With Your Loose Change

Use the coin counter at our Gorham, Windham, or Portland Marginal Way locations and we’ll give you an extra 10%. Or bring rolled coins into any GSB branch location. Just as household supplies have been disrupted during the pandemic, the coronavirus has triggered another shortage – pocket change. Banks around the country are running low...

PPP Loan Forgiveness Program

The SBA has created two applications – PPP Loan Forgiveness Application Form 3508EZ and PPP Loan Forgiveness Application Form 3508. Please refer to Application Form 3508EZ Instructions for Borrowers and Application Form 3508 Instructions for Borrowers to determine which application should be completed. Additional information regarding the use of SBA Form 3508EZ is also included...

Branch Reopening FAQs

As many Maine businesses prepare to reopen, we are pleased to let you know GSB will soon be implementing its plans to return to normal operations. Below is a list of questions you may have as we begin reopening branches to our customers. 1. Why is Gorham Savings Bank reopening now? The health and safety...

GSB Reopening Branch Lobbies

As many Maine businesses prepare to reopen, we are pleased to let you know that GSB has started reopening our branch lobbies. Like other businesses that serve the public, we will be implementing a phased approach, with customer and employee safety as our primary goal. In addition to  our Yarmouth and South Portland lobbies, which...

Unemployment Insurance Program Targeted by Fraudsters

The US Secret Service is warning of a well-organized fraud ring exploiting the COVID-19 crisis in order to commit large-scale fraud against state unemployment insurance programs. Individuals are receiving multiple deposits from various State Unemployment Benefit Programs. It is assumed the fraud ring behind this possesses a substantial database of Personally Identifiable Information (PII) in...

Portland Small Business Grant + Loan Programs

On May 19th, the City of Portland launched three new loan and grant programs for small businesses.   Business Assistance Program for Job Creation (Rehiring) The City of Portland’s COVID-19 Business Assistance Program for Job Creation (Rehiring) (BAP) provides $5,000 in grant funding to small businesses for rehiring two or more full-time employees that were on the payroll as of January 31, 2020....

Current Status of the SBA Paycheck Protection Program

The SBA Paycheck Protection Program closed August 8, 2020 and is no longer accepting applications. If you have questions about an existing application, please contact your lender. Thank you for choosing Gorham Savings Bank as your banking partner for the Paycheck Protection Program.

Three Additional Branches Equipped with Video Teller Machines

We’re working hard to make it easier to manage your accounts remotely during the current health crisis. That’s why we’ve added Video Teller Machines in Waterboro, Westbrook & Windham. Three of our ATM locations have been upgraded to Video Teller Machines with an increased level of service – just touch the screen to connect with...

GSB Will Continue To Operate In Its Current Model

In keeping with Governor Mills latest statewide directive and the City of Portland’s recent Emergency Order, identifying banks as ‘essential services,’ GSB, across our footprint, will continue to operate in its current model, serving customers via drive-up, Video Teller Machines, ATMs and online and mobile channels. GSB is carefully monitoring guidance from the federal, state...

Beware of COVID-19 Scams Using the FDIC’s Name

During these unprecedented times scammers are using false information regarding the security of people’s deposits or their ability to access cash to perpetuate fraud schemes. The FDIC does not send unsolicited correspondence asking for money or sensitive personal information. The agency will never contact you to ask for personal details, such as bank account information,...

Coronavirus Phishing Scams

Beware of COVID-19 emails that appear to come from reputable sources, such as the Centers for Disease Control (CDC) and World Health Organization (WHO). The body of these emails often contain recent news and updates related to the Coronavirus. These emails ask you to click on links for more detailed information – but actually link...

LaunchPad 2020 Is Canceled

We have been monitoring developments along with guidance provided by the Center for Disease Control (CDC) regarding COVID-19. Further, we are exercising an abundance of caution as we implement steps to help ensure the health and safety of our customers, employees, and communities. As such, we regret to inform you that we have made the...

Our Proactive Response to COVID-19

To better ensure the health and safety of our employees and customers, we are restricting all branches to DRIVE-UP SERVICE ONLY until further notice. We’re Prepared Our crisis action team has been proactively monitoring the outbreak.  We regularly review guidance from federal, state and local authorities to keep our employees informed and implement best practices, including...

GSB’s LaunchPad Opens March 1

Kate McAleer (founder, Bixby & Co.), Becky McKinnell (founder, iBec Creative) and Rich Peterson (president, MaineHealth and CEO, Maine Medical Center) will help judge this year’s competition Gorham Savings Bank will begin accepting applications on March 1 for its eighth annual LaunchPad small business competition. In the competition, the premier event of its type in...

Recent Business Fraud Activity

The following types of business fraud have been on the rise. As always, we encourage you to be on the lookout – and to be diligent in your verification process. Wire Fraud We’ve seen an increase in business wire fraud from criminals intercepting valid wire request emails and altering the payment instructions. Never wire money...

How To Secure Your Smart Devices

Smart devices are everywhere these days and it’s likely that you own several (Amazon Alexa, Nest, Google Home, just to name a few). Like all internet-connected technology, smart devices are vulnerable to being hacked, so steps should be taken to secure them. Here are some simple steps: Setup Passwords:  Many smart devices come with a...

How to Recognize a Phone Scam

Phone scams come in many forms, but they are easy to spot if you know what to look for. Note: If your phone is listed on the National Do Not Call Registry it is illegal for a company to call you. If a company is already breaking the law, there is a good chance it’s...

Tips for Spotting and Avoiding Check Fraud

Fake checks come in many forms – you could receive a fraudulent check or your account information could be used to create fraudulent checks. Understanding how check processing works and how to keep your information secure can help safeguard you from this type of activity. Check fraud can come in a variety of forms: Counterfeit...

Tips For Monitoring Your Financial Accounts

Monitoring your account activity is one of the most effective ways to protect yourself from fraud. The sooner you are able to identify unauthorized activity, the better you can take action to  reduce the impact. Here are some tips for monitoring your accounts and credit. Monitoring Your Accounts Review account activity often, daily if possible,...

Know The Signs of Business Email Compromise

You receive an email from the CEO asking you to purchase $500 worth of gift cards and provide the codes ASAP. The request came from the CEO’s email address, but they weren’t controlling it, a bad actor was. Business email compromise (BEC), sometimes referred to as CEO Fraud, is becoming a prevalent tool for scammers....

Spotting and Preventing Wire Fraud

Fraudulent wire activity is generally a result of account takeovers and email compromises. This form of fraud can be difficult to detect because they use a valid email address, craft their communication to mimic the owners, and add urgency to their request(s). Sometimes payment is expected from the recipient and the communication channel may have...

Protect Yourself From Tax Fraud

As tax season ramps up, so does tax-related fraud. Know what to look for, and take steps to protect sensitive information. SPOTTING TAX FRAUD Phone Calls: The IRS will never notify you of a tax issue by phone until it has first sent written notification, usually multiple times. If a caller claims to be from...

Signs of Elder Financial Abuse

Many elderly people are targets of financial exploitation because they are likely to have savings accounts, fixed incomes, receive social security benefits or own their homes. Sadly, many who are financially exploited experience this abuse at the hands of trusted caregivers or family members. This can make the victim feel heartbroken, embarrassed and ashamed. They...

Social Security Is Not Trying To Take Your Benefits

Scammers are making calls posing as someone from the Social Security Administration and telling people that their Social Security Number or Benefits will be suspended. The goal of this scam is to convince people to send money, often in the form of gift cards. What to do: Hang up – do not answer any questions...

Beware of Fake Equifax Data Breach Settlement Websites

The Equifax Breach, and subsequent settlement, has received a lot of media attention. Scammers are seizing this opportunity to establish fake settlement sites. Don’t follow email links or web search results. Refer to the FTC’s website for claim information, including officially approved links: www.ftc.gov/Equifax Scam Calls, Texts, and Emails Scammers are making calls and sending...

Beware of One-Ring Scams

Have you ever had your phone ring once and then stop? If so, you may have been targeted with what is known as a one-ring scam. What is a One-Ring Scam? Scammers ring once hoping you will think you missed a call and call back. The call may appear to originate from the U.S. with...

How To Shop Online Safely

As more consumers decide to shop from the comfort of their homes, scammers are finding ways to take advantage of online shoppers. There are three common ways that scammers can take advantage of online shoppers: Creating fraudulent sites and email messages – The benefit of shopping at a physical store is that you know where...

Steps To Safeguarding Your Online Devices

Take these 6 easy steps to protect your online devices. 1. Install an antivirus program and keep it updated with built-in auto-update and auto-renewal options. Take time to get to know your antivirus and any other security tools that your devices might contain. Understanding the tools that protect you will go a long way. 2....