Essex Savings Bank – A Local Gem in Madison, CT

The Essex Savings Bank was founded in 1851. The first meeting of the board met on July 30, 1851. The grand opening was then held on August 6. Susan Pratt was their first matron; she deposited $150.00. Essex Savings Bank was formed because local shipmasters, businessmen, and entrepreneurs wanted to start a bank where they could protect their finances and investments. The creators of the Essex Savings Bank also let the surrounding communities invest in and use the bank, and over time it has grown into a local sign of consistency throughout changing times.

The bank’s first president was Henry L. Champlin. In that time he was one of the best ship captains. He was an owner of the first London line of packets from New York. Champlin had never lost a ship under his command of the London line of packets. He then retired from oceangoing and built a wonderful house on Champlin Square in Essex, Connecticut. His legacy continues to this day, as the Essex Savings Bank has weathered many storms and still come out on top.

The bank has never lost the vision that the founders had. They take pride in the fact that they are doing a great job with their communities and can still have trustworthy services. It has been over a century and a half and they still please their clients. The founders always wanted a place that is trustworthy and affordable in its pricing and fees. As a mutual savings bank they take pride in their Community Investment Program. It returns to you 10 percent of your net income profits.

Investing is a very individual decision, and which investments to make can depend on so many factors, that you have to have a plan before you can invest successfully. With a little bit of professional knowledge, a few tips, and some of your valuable time, you can be making smart investments that suit your life.

Essex Saving Bank has a long history of happy customers. If you wanted a bank you can trust then Essex Saving bank is the one for you. Local businesses and individuals who put their trust in Essex have been rewarded with consistency and friendly customer service. The employees at Essex are always friendly and helpful, and they know that they are offering clients something that is not common in these uncertain financial times.

Anyone lucky enough to bank with Essex Savings Bank knows that you cannot do better in the banking world. Bigger is not always better, and many people have learned that the hard way over the past few years. Come by and see what Essex Savings Bank has to offer.

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