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BANKING IS BELIEVING

News & Events

Veteran Commercial Lender Kim Donnelly promoted to Director of Wealth and Business Services

Gorham Savings Bank, a leading Southern Maine financial services institution, has promoted Kim Donnelly to Executive Vice President, Director of Wealth and Business Services. Donnelly comes to the role with more than 25 years of banking experience working directly with customers. She’s led the Business Banking division since joining GSB in 2011, shepherding its growth...

Help Kids Form Good Lifelong Saving Habits

Back-to-school is a great time to teach kids the importance of saving. Take the opportunity to have conversations about budgeting for school supplies, or earning money from an after school job. Teach the children in your life how to save by talking about it early and often. Help kids form good lifelong saving habits. Here...

Understanding Your Credit Score

Credit influences many of the financial steps we take in life, but what is it? Lesley explains credit in this short video: Think of Your Credit Score as Your Financial Report Card Credit is your ability to borrow money or access goods and services under an agreement that you’ll pay back the entire amount in...

How To Use Credit Wisely

As you take on debt, it affects your credit, but your credit is also what allows you to take on debt. Clear as mud, right? Learn about the relationship between credit and debt with our five tips for how to use credit wisely. Lesley breaks it down in this short video: Step 1: Pick a...

2021 Child Tax Credit Payments Started July 15, 2021

The 2021 Child Tax Credit in President Biden’s American Rescue Plan provides the largest Child Tax Credit ever and historic relief to families struggling financially amidst the pandemic. If you qualify for the 2021 child tax credit, you may have already received your first advance monthly payment on or around July 15, 2021. Before you...

Wanted: Spare 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. Due to the pandemic, banks around the country are still running low on nickels, dimes, quarters and pennies, but you can help. In Maine, the vast...

Letter to the editor: New child care law an investment in Maine people, economy

This letter originally appeared in The Portland Press Herald. Thank you to Gov. Mills, Senate President Troy Jackson and others, including the editorial board of this paper, for supporting L.D. 1712. Now law, it will help more Maine families access affordable, high-quality child care programs. It is a critical investment in Maine people and Maine’s economy. As your...

Credit Insights

Credit Insights is now available in the GSB Mobile App! Access your credit score and credit report, and can gain a better understanding of the key factors that impact your score. The service is free and allows you to: View your full credit report See what affects your credit score Get personalized tips for credit...

How To Increase Your Business Cybersecurity

Nearly half of all cyberattacks target small businesses. Yet only 40% of small businesses have a cybersecurity policy. Security breaches surged in the pandemic as more employees worked remotely, making data even more accessible to cybercriminals. As businesses work to recover from the COVID-19 pandemic, their vulnerability to fraud is at an all-time high. Just...

HighByte Named 2021 LaunchPad Winner

June 2, 2021 The 2021 grand prize went to Portland-based DataOps software company HighByte. GSB gives $70,000 in no-strings attached grants to small businesses. HighByte took the top prize at Gorham Savings Bank’s LaunchPad competition and its corresponding $50,000 grant. The company was chosen among five finalists who pitched Tuesday afternoon to an independent panel...

Beware Of Text Messages Claiming That Your Debit Card Has Been Locked

Phishing text messages are becoming an increasingly common method for fraudsters to gain access to confidential information. Be on the lookout for text messages that claim your debit card is locked or has been blocked due to a recent transaction and ask you to respond if the activity is authorized or not, as shown in...

GSB’s 2021 LaunchPad Finalists Announced

From a pool of nearly 150 applicants, five rose to the top and will move on as finalists to the next round of our eighth annual LaunchPad small business competition: a livestream, in-studio pitch competition taking place Tuesday, June 1 at 3:30pm. Five additional businesses have been chosen to submit a 60-second pitch video for...

Brian O’Coin Joins GSB Commercial Banking Team

We are pleased to announce Brian O’Coin has joined our Commercial Banking team as vice president, commercial loan officer. O’Coin comes to Gorham Savings Bank with more than 16 years of expertise in commercial lending, having worked with customers across Southern Maine and New Hampshire ranging from small, local businesses to regional middle-market companies. Most...

Letter to the editor: Lack of access to quality early learning economic issue for Maine

This letter originally appeared in The Portland Press Herald. Your recent news article (Jan. 27) and editorial (Jan. 29) on a report titled “Early Childhood Programs’ Scarcity Undermines Maine’s Rural Communities” caught my attention. From a business perspective, the lack of access to quality early learning and child care programs faced by rural children and...

LaunchPad 2021 Application Opens March 1

Gorham Savings Bank will begin accepting applications on March 1 for its eighth annual LaunchPad small business competition, the premier event of its type in Maine, which will be a livestream event this year. In the competition, promising small businesses will compete for a $50,000 grant from the Bank. “We’re truly excited to bring LaunchPad...

How to Create a Budget That Works For You

Budgeting doesn’t need to be complicated, but it should be personalized. If you start by building a budget based on your unique needs and wants, you will be more likely to stick to it. Think about what you value most and what matters to you, then decide how every dollar you work for shapes and...

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...

Touch-Free Payments With Contactless Cards

Speed, simplicity, and security wherever the contactless symbol is displayed  Gorham Savings Bank is now issuing contactless debit cards. When you receive your new GSB card, just look for the contactless symbol when paying for items, tap your card against the symbol on the payment terminal until the light turns green, and listen for a...

New program will provide aging Mainers with at-home access to health and wellness services

The Westbrook Housing Authority (WHA) and the University of New England Center for Excellence in Aging & Health (UNE CEAH) have signed a memorandum of understanding to establish a three-year, multi-phase student placement and research partnership serving seniors aging in place in affordable housing, made possible by a $20,000 grant generously provided by Gorham Savings...

How To Pay Off Debt

The big things you want and value in life, your home, your car, maybe your dream venue for your wedding, can potentially add to your debt. Do you feel like you have been intentional about the debt you have taken on? Carefully planned debt can add value to your life as long as you are...

How To Save For An Emergency

You like to save for the things you value and enjoy, but could you support yourself if your household income was significantly reduced? An emergency savings is the foundation you need to establish before you start saving for the things you want. Establish a Safety Net and Avoid Debt Life events usually happen when you...

Maine District Office Presents GSB With SBA 504 3rd Party Lender of the Year Award

Gorham Savings Bank was awarded the U.S. Small Business Administration’s 504 3rd Party Lender of the Year in Maine for completing 10 504 loans totaling more than $2.2 million which, when combined with SBA’s portion of the loans, represented almost $4.7 million in financing and more than 60 jobs created or retained. SBA 504 loans...

Should A Company Pay A Ransom?

Ransomware attackers specialize in penetrating corporate networks, and sometimes specifically target a business’ backup systems, making it difficult – or impossible – to remediate the harm of an attack. The frequency and size of ransomware incidents have increased significantly in recent years. No company is safe from being targeted. How You Can Help Protect Your Business...

Approve ACH or Wire Payments On-The-Go

With on-the-go approval, it’s more convenient than ever to utilize dual control and increase your business account security. Authorized users can quickly and easily approve or release payments from anywhere with the GSB mobile app. Requiring a second approver for ACH originations and wire transfers will give you peace of mind and help protect your...

Make Change Helps Support Maine’s Minority-Owned Businesses

Gorham Savings Bank announced the launch of an innovative, mission-based checking account and debit card called Make ChangeSM, designed to support Maine’s minority-owned businesses. How Make ChangeSM Works For every qualified purchase a Gorham Savings Bank customer makes using their Make ChangeSM debit card, the Bank will donate $.10 to an earmarked fund. Those funds will...

Virtual GSB Maine Marathon Raises More Than $250,000

The Marr Foundation raised $212,000 alone, exceeding its goal of $200,000 Despite being run virtually over 2-weeks this year, the 2020 Gorham Savings Bank Maine Marathon, Half Marathon, and Relay, exceeded fundraising expectations, finishing strong with just over $254,000. Nearly 50 percent of race participants made a donation or donated their registration fee to charity – a 40...

Mobile Banking – Deposit A Check, Pay Back A Friend & More

Mobile banking makes managing your money from home convenient and easy. Simply download the Gorham Savings Bank app for iOS  or Android to deposit a check, pay back a friend, check your account balance and more. You can also monitor account activity, helping you stay on top of daily transactions to protect against fraud or...

Gorham Savings Bank A Founding Partner Of United Way’s Racial Equity Fund

Gorham Savings Bank is honored to be a founding partner of United Way of Greater Portland’s Racial Equity Fund. This new initiative supports the work of local nonprofits led by and serving people of color in our community, all while advancing the work at the heart of United Way’s community-developed Thrive2027 initiative. In addition to...

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...

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...