BANKING IS BELIEVING

News & Events

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....

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

The SBA Paycheck Protection Program has been extended to August 8, 2020. 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. Please contact your lender and submit documents by 12:00pm on Friday, August 7. Thank you for choosing Gorham Savings...

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...

Application for SBA Paycheck Protection Program

The SBA Paycheck Protection Program has been extended until August 8, 2020. If you are interested in applying: Please include the completed application, 2019 quarterly payroll filings, and a separate sheet of employees with greater than $100,000 in compensation. Paycheck Protection Program Application Paycheck Protection Program Information Sheet for Borrowers Please contact your lender and...

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...

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 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...