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Fraud Alert: Unemployment Insurance Program Targeted by Fraudsters. Click here to learn more.

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BANKING IS BELIEVING

News & Events

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....

Small Business Resources

We’ve compiled a list of resources and links to assistance programs available during the current COVID-19 health crisis.   CARES Act The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up...

Payment Options

Manage your bills and payments remotely with our convenient banking technology.     Zelle® Use Zelle in the GSB Mobile Banking App to send money to almost anyone you know1 – repay a friend or family member using only an email address or U.S. mobile number. Get Started With Zelle   External Transfer Transfer funds...

Current Status of the SBA Paycheck Protection Program

Updated April 27th: Gorham Savings Bank is accepting PPP applications until SBA funding for this second round is exhausted. If you are interested in applying, we urge you to click here to familiarize yourself with the process and all documents necessary to fully complete an application. Thank you for choosing Gorham Savings Bank as your banking...

Coronavirus and Economic Impact Payments: Resources and Guidance

On April 2, 2020, the Treasury Department and the Internal Revenue Service announced the distribution of economic impact payments to help Americans combat the financial effects of the COVID-19 pandemic. If your finances have been impacted by the pandemic, you’re not alone. We’re here to help you understand how you can get your economic impact...

Coronavirus Scams

As the novel coronavirus (COVID-19) pandemic continues to impact the United States, fraudsters have seized the opportunity to prey on businesses and consumers. Scams are coming in many ways – not only through email, but also by phone, text, and social networking sites. They are also taking many forms, from fake Paycheck Protection Program loan...

FAME COVID-19 Loan Relief Program

FAME is offering special terms to eligible Maine businesses that have experienced interruption or hardship due to COVID-19. Various programs include: Direct loans up to $50,000 offered at reduced interest rates; Commercial loan insurance for Maine lenders of up to 75% on loans up to $100,000; and Direct loans of up to $100,000 with special...

Budgeting in a Crisis

When a crisis like COVID-19 hits, the impact it can have on your budget and your lifestyle can be significant. A crisis budget can help you prioritize bills that need to be paid and adjust your daily spending if you have to live on a reduced income. Focus Only On The Necessities: Rent/mortgage Utilities Groceries...

Understanding FDIC Insurance

The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled. The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at...

Remote Banking Options

Manage your GSB accounts remotely with our various banking technology.   Online Banking Access account information, transfer money and pay bills from home. Enroll in Online Banking   GSB Mobile App Manage your accounts from your couch – and take advantage of mobile check deposit. Download for iPhone or Android   Video Teller Machines Touch the screen to speak...

Community Resources

We’ve compiled a list of resources and links to assistance programs available during the current COVID-19 health crisis.   General Assistance Call 211, email info@211maine.org or visit 211Maine.org for a local directory of services, including financial assistance, food resources, housing, health care services, and child care.   Food Assistance  Cumberland County Food Security CouncilCommunity leaders...

Guidance and Application for SBA Paycheck Protection Program

We want to assure our business customers that GSB is paying very close attention to all federal and state relief programs under development at this time. With regard to the SBA’s Paycheck Protection Program, we have placed links to the appropriate forms and some overview information below. If you are interested in the SBA’s Paycheck...

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...

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...

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,...

A Letter From Our President & CEO: Believing in Community

We’ve seen it before in Maine, across the country and around the world—tragedy strikes and people instinctively, unselfishly and immediately pull together to help right their community. This past week is no exception and I believe we will be seeing it more and more for the duration of this COVID-19 emergency. We’ve all been dealt...

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 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....

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...

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...