Empowering Maine's Communities: The Story of Kennebunk Savings Bank

Introduction
Established in 1871, Kennebunk Savings Bank has been the backbone of Maine's financial landscape for over a century and a half. Through its unwavering commitment to customers, community involvement, and financial stewardship, the bank has played a vital role in shaping the economic and social fabric of the state.

A Legacy of Customer Service

Kennebunk Savings Bank prides itself on providing exceptional customer service, going above and beyond to meet the individual needs of every account holder. The bank's dedicated team of financial professionals is known for their responsiveness, empathy, and personalized guidance. This unwavering commitment to customer satisfaction has earned the bank numerous accolades, including:

• Named "Best Bank in Maine" by Forbes (2022)
• Awarded "Highest in Customer Satisfaction with Retail Banking in Maine" by J.D. Power (2022)

Empowering Communities

As a true community bank, Kennebunk Savings Bank actively invests in the well-being of Maine's residents. Through charitable donations, volunteerism, and financial support, the bank has made a significant impact on local organizations and initiatives:

• Community Development: The bank has invested millions of dollars in affordable housing, community centers, and small business development.
• Arts and Culture: Kennebunk Savings Bank supports a wide range of arts and cultural programs, including museums, theaters, and music festivals.
• Education: The bank provides scholarships, educational grants, and financial literacy programs to students of all ages.

Financial Stewardship

Kennebunk Savings Bank is committed to responsible financial management, ensuring the long-term stability of the organization and the protection of its customers' deposits. The bank's conservative lending practices and prudent investment strategies have contributed to its strong financial performance:

• Strong Capitalization: Kennebunk Savings Bank has consistently maintained one of the highest capital ratios in the industry, providing a substantial buffer against financial risks.
• Exceptional Safety and Soundness: The bank has received an "Outstanding" rating from the FDIC, the highest rating possible, indicating its exceptional financial health and safety.

Innovative Banking Solutions

While preserving its core values, Kennebunk Savings Bank has embraced innovation to provide customers with convenient, cutting-edge banking services:

• Mobile Banking: Customers can manage their finances anytime, anywhere through the bank's mobile banking app.
• Online Banking: The bank's user-friendly online platform allows account holders to access their accounts, make transactions, and pay bills.
• Mortgage Center: Kennebunk Savings Bank offers a wide range of mortgage products and expert guidance to help customers find the best home financing solution for their needs.

Building on a Rich History

Throughout its extensive history, Kennebunk Savings Bank has adapted to the changing needs of its customers and community. Key milestones include:

• 1871: Founded as a mutual savings bank in Kennebunk, Maine.
• 1980s: Expanded into the Portland metro area, opening branches in South Portland and Yarmouth.
• 2000s: Introduced mobile banking and online account management.
• 2019: Acquired York County Federal Savings Bank, expanding into new markets in southern Maine.

Leadership and Values

Kennebunk Savings Bank is led by a dedicated team of professionals who embody the bank's values of integrity, customer focus, and community involvement. The bank's President and CEO, Bradford C. Paige, has over 30 years of experience in the financial services industry and is passionate about fostering a culture of excellence and innovation.

Effective Strategies For Success

Kennebunk Savings Bank's success can be attributed to its unwavering adherence to several key strategies:

• Customer-Centric Approach: The bank prioritizes customer satisfaction in every interaction, ensuring that their needs are met and their financial goals are achieved.
• Community Involvement: By investing in local organizations and initiatives, the bank strengthens the communities it serves and builds long-term relationships.
• Financial Prudence: The bank's conservative lending practices and prudent investment strategies have contributed to its exceptional financial stability and the protection of its customers' deposits.

Inspiring Stories

Story 1: Supporting Local Businesses
In 2020, when the COVID-19 pandemic devastated small businesses, Kennebunk Savings Bank provided over $20 million in Paycheck Protection Program (PPP) loans to local businesses. This vital funding helped businesses retain employees and weather the economic storm.

Story 2: Investing in Affordable Housing
The bank partnered with MaineHousing to invest in the construction of 22 affordable housing units in Sanford, Maine. This project provided safe and affordable housing for low-income families in the community.

Story 3: Empowering Students
Kennebunk Savings Bank's scholarship program has provided financial support to over 1,000 students in Maine. These scholarships allow students to pursue their educational dreams and contribute to the future of the state.

Common Mistakes to Avoid

When choosing a financial institution, it's important to avoid common pitfalls:

• Ignoring Customer Service: Don't settle for banks that prioritize profits over customer satisfaction. Look for a bank that values your needs and treats you with respect.
• Overlooking Financial Stability: Make sure the bank you choose is financially sound and has a strong track record of safety and soundness.
• Neglecting Community Involvement: Support banks that invest in the communities they serve. Their commitment to local initiatives benefits everyone.

Step-by-Step Approach to Success

Follow these steps to choose the right bank for you:

1. Identify Your Needs: Determine the specific banking services and financial guidance you need.
2. Research Banks: Compare different banks based on their customer service, financial stability, and community involvement.
3. Visit Branches: Visit local branches to experience the bank's atmosphere and interact with their staff.
4. Read Reviews: Check online reviews to get feedback from current and former customers.
5. Make a Decision: Carefully consider your research and choose the bank that best meets your needs and values.

Call to Action

Join the legacy of Kennebunk Savings Bank and experience the exceptional customer service, community involvement, and financial stewardship that have made the bank a trusted partner for generations of Mainers. Visit their website or visit your nearest branch today to learn how they can help you achieve your financial goals and make a positive impact on the community.

Tables

Table 1: Kennebunk Savings Bank Customer Satisfaction Ratings

Table 2: Kennebunk Savings Bank Financial Performance

Table 3: Kennebunk Savings Bank Community Contributions