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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...
What's New
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....
What's New
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...
What's New
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 thru, Video Teller Machines, ATMs and online and mobile channels. GSB is carefully monitoring guidance from the federal,...
Security
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,...
Security
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...
General
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...
What's New
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 THRU 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,...
What's New
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...
Security
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...
Security
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...
Security
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...
Security
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...
Security
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,...
Security
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...
Security
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...
Security
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...
Security
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...
Security
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....
Press Room
Why these banks are supporting women entrepreneurs
This article originally appeared in Independent Banker. In the past half of a century, women have gone from a small part of the business community to a significant—and fast-growing—segment. In fact, women start an average of more than 1,800 businesses across the country each day. How can community banks form mutually beneficial relationships with this...
Press Room
Catherine Cloudman Joins GSB’s Board of Directors
Gorham Savings Bank, a leading Southern Maine financial services institution, announced that Catherine Cloudman has been named to the bank’s board of directors effective December 1. “Catherine brings a wealth of financial and business management experience from her time as an owner, chief financial officer (CFO), and board member of several Maine companies.” said Steve...
Press Room
GSB’s Program Helps Early-Stage Businesses Gain Financial Confidence
Regional businesses partake in third session of community bank’s Forward with Funding program Thirteen small businesses including KinoTek, Fyood Kitchen, OpBox, Hemphill’s Horse, Seed and Saddlery, and GTFO Escape Room recently participated in a two-day, hands-on workshop created to help Maine entrepreneurs better understand their businesses’ financials. The program, called Forward with Funding, was created...
What's New
GSB Transitions Email Address to @GorhamSavings.Bank
In 2017, GSB changed its website address from GorhamSavingsBank.com to GorhamSavings.Bank for added security. Dot bank domains are reserved exclusively for the banking industry, so they are more difficult to spoof and help prevent users from being redirected to a fake bank website. To complete the transition, we have updated our email addresses as well,...
Security
Cybercriminals & Your Personal Information
ID theft can happen to anyone. Cyber criminals have multiple markets to buy or sell illicit goods that can be monetized in one way or another. Common goods include personal and financial information that can be used for fraud. How to Prevent ID Theft Monitor credit report activity in the GSB Mobile App with Credit...
Security
Ways To Stay Safe Online
The internet offers us access to endless entertainment and makes business transactions feel seamless. However, with all this convenience comes risks. Bad actors are always present, but we all have the ability to take control of our online safety. Here are some security tips and tools to help keep you safe online. Online Safety Tips...
What's New
Our Newest Branch is Now Open in Yarmouth
Gorham Savings Bank has opened its newest branch in the historic Grand Trunk Railroad Depot on Main Street Yarmouth, after a year-long restoration project. The restoration project is a collaboration with historic preservation property developer and owner of the Depot, Ford Reiche, who has rehabilitated four other properties listed on the National Register of Historic...
Security
Business Online Banking Security Tips
As they say, “it’s a jungle out there”. Even for those of us who keep up-to-date with system upgrades and follow safe practices. The “bad actors” are working hard every minute across the globe to thwart the latest protections. On top of everything else, it’s important to monitor your accounts frequently. Account Controls Every Business...
Security
Personal Online Banking Security Tips
Protect yourself when banking online with these tips. Get Serious About Passwords Make your passwords long, strong and complex. That means at least eight characters, mixed with uppercase and lowercase letters, numbers, and special characters. Avoid using common words, phrases or personal information. Use different passwords for all of your accounts so if hackers compromise...
General
Forward with Funding Class To Convene Fall 2019
Gorham Savings Bank has selected thirteen local businesses from an online application to participate in its upcoming Forward with Funding session in September. Forward with Funding is a hands-on workshop offered at no cost to Maine companies that are ready to take their business knowledge to the next level and feel more confident understanding their...
Press Room
Gorham Savings Bank to consolidate and focus on meeting the growing demand in Greater Portland area
Gorham Savings Bank has notified its customers of plans to close its Kennebunk location on November 1, 2019, citing geography and administrative challenges as the primary reasons. “After a long evaluation we found Kennebunk, while a very attractive market, is simply too far outside our primary geographic footprint to operate, administer and staff satisfactorily,” Gorham...