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News & Events

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....

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...

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...

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...

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 Watch your credit reports. Everyone is entitled to a free credit...

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...

GSB Maine Marathon Delivers an Early Holiday Gift to Local Non-Profits

Maine Marathon’s Record-Breaking Event Boosts Charitable Giving Two Maine non-profits are on the receiving end of additional unexpected revenue generated by the Gorham Savings Bank Maine Marathon held in the Fall. The October 6th event shattered records, raising more than $120,000 for over 40 Maine charities. “Event revenue came in higher than projections to the...

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...

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...

Positive Pay can protect you from check fraud losses

Please be aware that we’ve recently seen an uptick in business check fraud, mainly from unattended mail. It’s important to have either a P.O. Box or direct delivery inside an office. Our Positive Pay service can give you peace of mind and protect you from losses due to fraudulent checks. With Positive Pay, we review...

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...

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...

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,...

How to Spot a Phishing Scam

Phishing is the fraudulent attempt to obtain sensitive, personal information such as usernames, passwords, credit card numbers or account information by posing as a trustworthy source, such as a reputable company. Phishing is commonly done through email, although social networking sites and chatting apps are becoming increasingly common routes as well. How to spot a...

Ways To Stay Safe Online

The internet provides us with access to endless entertainment, and makes business transactions feel seamless. With all of 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 keep you safe online. Online Safety Tips...

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...

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...

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...

Casco Bay Creamery Wins GSB’s $50,000 LaunchPad Grant

Casco Bay Creamery of Scarborough, who provides creamy, delicious butter and cream cheese to customers who want to make breaking bread a joyful occasion took the top prize at Gorham Savings Bank’s LaunchPad competition and its corresponding $50,000 cash prize. The company was chosen from among five finalists who pitched their small business concepts Tuesday night to...

Finalists Announced for 2019 LaunchPad Competition

Now in its seventh year, LaunchPad helps Maine’s innovators and entrepreneurs reach the next level Gorham Savings Bank has selected five Maine businesses as the finalists of its seventh annual LaunchPad small business competition. From an applicant pool of over 150 businesses, Casco Bay Creamery, CourseStorm, GO Lab, Sidewalk Buttler, and Vintage Maine Kitchen rose...

GSB Maine Marathon Selects Five Maine Nonprofits As 2019 Beneficiaries

Over $100,000 will be donated to local nonprofits again this year Bob Dunfey, the volunteer race director for The Maine Marathon and Steve deCastro, president and CEO of Gorham Savings Bank, title sponsor since 2010, announced today that Eastern Trail Alliance, Rippleffect, Girls on the Run, WinterKids and Portland Community Squash are the five primary...

Steve deCastro, On The Record with Mainebiz

This article originally appeared in Mainebiz. Written by Renee Cordes. Photo by Jim Neuger. Steve deCastro is president and CEO of Gorham Savings Bank, which has over $1 billion in assets, 13 branches in Maine and close to 200 employees. DeCastro, who joined Gorham Savings in July 2016 and became CEO on Jan. 1, sat down with...

Kim Donnelly Talks About Preparing For A Business Loan

This article originally appeared in Mainebiz. Written by Kim Donnelly. If you own a business, you know what it’s like to see — and want to seize — an opportunity. And often, such opportunities require an infusion of capital. By applying a smart business loan to a smart business idea, you can jump on that...

The Application for LaunchPad is Now Open

Local entrepreneur Ford Reiche joins as an event judge in this year’s business competition Gorham Savings Bank is now accepting applications for its seventh annual LaunchPad small business competition. In the competition, the premier event of its type in Maine, promising small businesses will compete for a $50,000 grant from the bank. The application opens today...

3 Simple Ways to Start Saving Today

If you lost your job today, how long would you be able to cover expenses without taking on debt? If you answered, “not long,” it’s time to start saving for the unexpected. Most people start saving to cover at least three months of living expenses. If this doesn’t seem attainable to you, don’t worry. It’s...

New GSB Mobile App Feature – PayPal Linking

Now mobile banking customers can link their debit card to their new or existing PayPal account using the GSB Mobile App. If there are insufficient funds in you PayPal balance, your purchase can be covered quickly and easily, without having to enter card numbers or other personal information to complete your transaction. Linking a debit...

Wish Tree Program – November Wishes Granted

79 Maine families and individuals were recipients of community member wishes totaling $150,000. The initiative, called the GSB Wish Tree, was conceived and implemented as a way to give back to the community as the bank marks its 150th anniversary. The bank received an overwhelming number of wishes, bringing to light the many challenges Mainers...

GSB President Steve deCastro Named CEO

Gorham Savings Bank has named current president, Steve deCastro, its new chief executive officer (CEO). He takes over for Chris Emmons, who is retiring after 15 years of service with Gorham Savings. The transition was initiated in early 2018 as part of the bank’s succession plan. deCastro joined GSB in July 2016 as executive vice...

New Money Management Tool Available in Online Banking & The Mobile App

Introducing Personal Finance, a money management tool now available in online and mobile banking. With customized budgeting tools, smart expense tracking, and mobile access, you can manage your finances with ease, from anywhere. Manage All Your Accounts – Track finances across all accounts, in one place. Track Spending – Get powerful insights on when, where, and how you spend....