Biddeford Savings Blog

Maine Community Bank Cares: The Biddeford and Mechanic Savings Charitable Foundation Delivers $25,000 to Provide Heating Assistance to Mainers During Winter’s Coldest Months

Westbrook, Maine – January 20, 2022 – In response to the rising cost of home heating oil, the Biddeford and Mechanics Savings Charitable Foundation has donated $25,000 to support the Keep ME Warm Fund, providing direct and immediate home heating assistance to financially vulnerable Mainers. “Making a contribution to the Keep ME Warm program will allow […]
January 20, 2022

Maine Community Bank Cares: The Biddeford and Mechanic Savings Foundation Lends a Hand to Food Insecure Mainers with Their More Meals for Maine Campaign

Auburn, Maine – December 16, 2021 – In response to the growing number of food insecure Mainers (1 in 8 people and 1 in 6 children in Maine face hunger), the Biddeford and Mechanics Savings Foundation has committed $49,000 to 12 different organizations within the bank’s local communities. According to the USDA, food insecurity refers […]
December 16, 2021

Maine Community Bank Hires Susan Mellon as Executive Vice President

Biddeford, Maine—October 12, 2021— Maine Community Bank is pleased to announce the addition of Susan Mellon as Executive Vice President, Customer Experience and Market Expansion. Mellon will be responsible for overseeing the bank’s retail banking, residential mortgage lending, and marketing efforts. “We are fortunate to have Susan join us to bring her leadership, sales and management […]
October 12, 2021

The Biddeford and Mechanics Savings Foundation Supports The Blueprint, Safe Voices’ First Annual Campaign

Lewiston, Maine – September 16, 2021 – The Biddeford and Mechanics Savings Foundation, in alignment with their mission to help individuals and families in the bank’s local communities, has committed $25,000 to help Safe Voices reach their goal of $1 Million for The Blueprint Campaign. Safe Voices provides emergency services, shelter, and support to victims […]
September 16, 2021

Biddeford Savings Supports Scarborough Public Library’s Story Walks

Scarborough, Maine – July 28, 2021 – Biddeford Savings, a division of Maine Community Bank, recently donated $1,000 to the Scarborough Public Library to fund Story Walks; a series of illustrations posted sequentially on signboards along a path outdoors. In this time when children are unvaccinated and the Scarborough Public Library cannot yet provide traditional, […]
July 28, 2021

Maggie Amann, Scarborough High School, awarded a Mainely Character Scholarship

Inspiring fund-raiser and volunteer. SCARBOROUGH, ME, JUNE 2021, Maggie Amann, Scarborough High School senior, recently received a $2,500 Mainely Character Scholarship, awarded annually to Maine high school seniors who demonstrate responsibility, integrity, courage, and exemplary concern for others. Maggie was selected from 375 scholarship applicants statewide; Biddeford and Mechanics Savings Charitable Foundation sponsored her scholarship. […]
June 16, 2021

The Biddeford and Mechanics Savings Foundation Supports The Ecology School

Saco, Maine—May 18, 2021—The Ecology School hosted representatives from Maine Community Bank on Tuesday for a ribbon-cutting at the new three-wing dormitory on the River Bend Farm campus. Maine Community Bank, through their Biddeford and Mechanics Savings Charitable Foundation, recently pledged $10,000 toward the River Bend Farm project. The donation includes the naming of one […]
May 19, 2021

For the first time ever, Boston Fed has majority female board of directors

For the first time ever, the majority of the Federal Reserve Bank of Boston’s board of directors are female. Our President & CEO, Jeanne Hulit, joined the Boston Fed board in January and recently participated in a panel with her fellow female directors for Women’s History Month. Read the story on the Boston Fed website
April 06, 2021

Bank expansion heats up, and Chase's Maine rollout isn't the only game in town

Mainebiz recently published an article about bank expansion in Southern Maine, including Maine Community Bank’s new branch and operations center being built in Westbrook and a larger branch being built in Brunswick. Hear from Jeanne Hulit, Maine Community Bank President & CEO, about her outlook on the banking landscape and how Maine Community Bank plans […]
February 08, 2021

Second Round PPP Loans

Our President & CEO, Jeanne Hulit, was recently featured on News Center Maine regarding the second round of PPP loans for Maine businesses. Read the article
January 11, 2021

Joline Dubuc Named Mechanics Savings Lewiston Branch Manager

AUBURN, ME– Mechanics Savings, a Division of Maine Community Bank, recently promoted Joline Dubuc to assistant vice president, branch manager and loan officer based out of the Lewiston branch. Dubuc joined Mechanics Savings in 2015 as a teller in the Lewiston branch. She moved to the Auburn branch shortly after to be a customer service […]
December 24, 2020

Maine Community Bank Hires David Stolt

AUBURN, ME–Maine Community Bank recently hired David Stolt as Vice President, Mortgage Risk and Compliance Officer based out of the Auburn executive office. Stolt comes to Maine Community Bank from Northeast Bank, bringing his expertise as a consumer lending compliance officer. In his role as risk and mortgage compliance officer, he is responsible for the […]
December 24, 2020

Boston Fed announces 2021 Board of Directors

The Federal Reserve Bank of Boston announced today that Jeanne Hulit, president and CEO of Maine Community Bank, has been elected as a Class A director, beginning January 1, 2021. We are proud to have Jeanne represent Maine banks as she helps govern an organization that prioritizes sound growth and financial stability in New England […]
December 23, 2020

Maine Community Bank Hires Nicole Savage to Lead Retail Lending Team

AUBURN, ME–Maine Community Bank is pleased to announce the addition of Nicole Savage to the retail lending team as vice president, retail lending sales manager. “We are thrilled to have Nicole join the Maine Community Bank family,” said Jeanne Hulit, president and CEO. “Her exceptional customer service skills and her ability to build strong relationships […]
December 15, 2020

Marjorie McAvoy Joins Biddeford Savings as Scarborough Branch Manager

BIDDEFORD, ME–Biddeford Savings, a Division of Maine Community Bank, recently hired Marjorie McAvoy as assistant vice president, branch manager of the branch location in Scarborough. McAvoy comes to Biddeford Savings from Androscoggin Bank, bringing over 15 years of experience in the banking industry. In her new role as branch manager, she is responsible for client […]
December 15, 2020

Maine banks get more strategic about gender balance on their boards

Gender roles in bank leadership have traditionally been dominated by men, even though nearly half of bank employees are female. Maine banks, including Maine Community Bank, are working to close the gender gap by diversifying their boards of directors and their leadership teams. We are very fortunate to work for a bank that prioritizes gender […]
November 30, 2020

Low rates drive mortgage activity in Maine

Maine Community Bank’s own Abi Arsenault, Residential Loan Officer, and Christopher Madura, Customer Service Representative, spoke to NEWS CENTER Maine’s Vivien Leigh about how low mortgage rates are driving homebuying and refinancing activity in Maine, from the perspective of a mortgage lender and a new homeowner: Refinance and mortgage loans booming in Maine |
October 08, 2020

Maine Community Bank Breaks Ground on Operations Center in Westbrook

Seen as Economic Boost to Community Maine Community Bank Ground Breaking from City of Westbrook, Maine on Vimeo October 7, 2020—Biddeford, Maine—Shovels will dig out dirt, in unison, on October 7 at the site of what will be a state-of-the-art operations center for Maine Community Bank on Larrabee Road in Westbrook.  The 23,000 square foot, […]
October 07, 2020

Biddeford and Mechanics Savings Charitable Foundation Takes on Hunger in Maine

1 in 7 Mainers is food insecure; 1 in 5 Children in Maine don’t have enough to eat Biddeford, Maine—September 28, 2020—In an unprecedented time of need, the newly formed Biddeford and Mechanics Savings Charitable Foundation is pledging funds to assist food insecure and homeless children and adults in Maine.  The Foundation has approved a […]
September 28, 2020

Jennifer Sirois Joins Biddeford Savings as Commercial Loan Officer

July 22, 2020 – BIDDEFORD, ME– Biddeford Savings, a Division of Maine Community Bank, recently hired Jennifer Sirois as vice president, commercial loan officer III based out of the Business Banking Center in Biddeford. Sirois comes to Biddeford Savings from TD Bank, bringing over 20 years of banking experience, including over 15 years in commercial […]
July 23, 2020

Maine Community Bank Creates Foundation, Strengthens Community Ties

Focus on COVID19 Relief and Inequality Issues among Youth  Biddeford, Maine—July 21, 2020—Maine Community Bank President and CEO Jeanne Hulit announced Wednesday the bank, and its Biddeford Savings and Mechanics Savings divisions, has created a charitable foundation to unite and support the communities they serve.  “Both Biddeford Savings and Mechanics Savings have been strong community […]
July 21, 2020

Maine Community Bank Supports Small Businesses Through Customer Gifts

June 22, 2020 – BIDDEFORD, ME – Maine Community Bank, through its divisions Biddeford Savings and Mechanics Savings, has pledged to support local small businesses hit hard from the COVID19 pandemic through a gift card campaign. Beginning Monday, businesses in Biddeford, Old Orchard Beach, Waterboro, Kennebunk, Auburn, Lewiston, and Brunswick will be handing out $10 […]
June 23, 2020

Bank System Commits $20,000 to Local Food Pantries

BIDDEFORD AND AUBURN, ME – April 13, 2020 – To answer a growing need for food and sustenance, Maine Community Bank and its divisions, Biddeford Savings and Mechanics Savings, has contributed $20,000 to food pantries in each of their branch communities. “At a time when schools are closed and unemployment is on the rise, we […]
April 14, 2020

The Maine Immigrant Prosperity Network and ProsperityME support immigrants during COVID-19 outbreak

March 26, 2020 – PORTLAND, ME – Members of the Maine Immigrant Prosperity Network (MIPN) and ProsperityME met via zoom on Tuesday, March 24, 2020 to discuss how to best support the immigrant community during the health crisis presented by coronavirus. Maine Community Bank and its divisions, Biddeford Savings and Mechanics Savings, are among the […]
March 27, 2020

Biddeford Savings and Mechanics Savings Provide Assistance to Local Food Pantries

January 16, 2020 – BIDDEFORD AND AUBURN, ME – Centered on an unwavering commitment to the local communities they serve, Biddeford Savings and Mechanics Savings recently donated a total of $22,500 to local food pantries in their market areas to help fight the issue of food insecurity. Maine ranks 12th in the nation for food insecurity. […]
January 16, 2020

Biddeford Savings and Mechanics Savings Become Divisions of Maine Community Bank

January 2, 2020 – AUBURN & BIDDEFORD, ME – On January 1, 2020, Biddeford Savings and Mechanics Savings Bank merged under a single banking charter becoming Maine Community Bank. Biddeford Savings and Mechanics Savings will retain their names as divisions of the new Maine Community Bank. The merger of these two community banks creates an […]
January 02, 2020

Jeff Wright Promoted to Executive Vice President, Chief Operating Officer at Maine Community Bancorp

Nov 19, 2019 – AUBURN, ME – Maine Community Bancorp, the mutual holding company of Biddeford Savings and Mechanics Savings, is pleased to announce the promotion of Jeff Wright to Executive Vice President, Chief Operating Officer. In this role, Wright is responsible for the strategic leadership of operations across the organization. Wright joined Maine Community […]
November 16, 2019

Suzanne M. Carney Joins Maine Community Bancorp as SVP, Director of Human Resources

May 16, 2019 – AUBURN, ME – Maine Community Bancorp, the mutual holding company of Biddeford Savings and Mechanics Savings Bank, is pleased to announce that Suzanne M. Carney has joined the team as Senior Vice President, Director of Human Resources. Carney comes to Maine Community Bancorp with over 25 years of experience in human […]
May 16, 2019

Biddeford Savings and Mechanics Savings to Consolidate into a Single Bank Charter, Maintain Brands

Apr 18, 2019 – Biddeford Savings and Mechanics Savings announced that the organizations have filed a merger application with regulators to operate under a single charter as Maine Community Bank. Biddeford Savings and Mechanics Savings will maintain their respective brand identities, as well as local decision making, while operating as divisions of Maine Community Bank. […]
April 18, 2019

Biddeford Savings and Mechanics Savings announce 2019 promotions

Mar 11, 2019 – Maine Community Bancorp, the mutual holding company that owns Mechanics Savings Bank and Biddeford Savings Bank, recently announced the promotion of five employees. Marcus Buzulchuck was promoted to vice president, branch manager of the Biddeford Savings office in Kennebunk. Buzulchuck started his career with Biddeford Savings in 2011 as a customer […]
March 11, 2019

Biddeford Savings Offers Relief During Government Shutdown

BIDDEFORD, ME–Jan 18, 2019 – As the government shutdown continues with no end in sight, Biddeford Savings and Mechanics Savings are committed to providing relief to federal employees and contractors who are experiencing financial hardships due to loss of income. “As a community bank, we’re committed to supporting our customers through all of their ups […]
January 18, 2019

Biddeford Savings and Mechanics Savings Jointly Raise Minimum Wage

January 3, 2019 – AUBURN, ME – Maine Community Bancorp, the mutual holding company that owns Mechanics Savings and Biddeford Savings, recently announced that the minimum wage for full-time employees will increase to $15 per hour. The increase, which took effect January 1, 2019, is part of Maine Community Bancorp’s commitment to being an employer of choice […]
January 03, 2019

Jeff Wright Joins Maine Community Bancorp as SVP, Senior Operations Officer

Dec 11, 2018 – AUBURN, ME – Maine Community Bancorp, the mutual holding company of Biddeford Savings and Mechanics Savings Bank, is pleased to announce that Jeff Wright has joined the team as Senior Vice President, Senior Operations Officer. Wright comes to Maine Community Bancorp with over 20 years of experience in the financial service […]
December 11, 2018

Biddeford Savings Shows Their Love for our Furry Friends

Aug 22, 2018 – BIDDEFORD, ME – Biddeford Savings hosted their annual Furry Friends campaign to collect pet supplies and cash donations for the Animal Welfare Society. Each summer for the past several years, Biddeford Savings has hosted a Furry Friends campaign to collect pet supplies and cash donations for the Animal Welfare Society. During the […]
August 22, 2018

Invest that refund, don’t just spend it!

If you are getting a tax refund, please think carefully about what to do with the money.  I would be tempted to take a vacation or buy one of the newest, fanciest TVs but I would be much better served to reduce high cost debt (hello credit card account) or save the money.  If you […]
March 24, 2016

Small businesses can have big tax problems!

If you own a small business you have a special set of concerns at tax time. Here are 5 steps to take to reduce your risk of problems with your business return. File on time and pay the taxes due. Sounds simple but many business owners fail to do these simple things, resulting in penalties […]
March 10, 2016

But Groundhog Day was last month….

In the movie Groundhog Day every day was like the preceding one. For me, it feels like I just finished last year’s tax returns yesterday and now it is filing season once again. How time flies. Unfortunately, with filing season we also get tax scam season. The hackers and criminals are always looking to make […]
March 03, 2016

It was a Dog's Life

The same week my friend died we euthanized our 13 year old dog.  She had cancer and was fading rapidly.  I don’t wish to compare the impact of a human’s life with that of a dog but both have value and can teach us something.  Our dog was a pound puppy, rescued from a tough […]
February 17, 2016

Lessons from a Life Too Short

Last week we buried a friend who died way too young, he was 57.  I knew him primarily through our shared passion for golf.  He loved the comradery and competition of golf as well as the fellowship during and after a round.  In addition, he was a good husband, father, friend to many, and businessman.  […]
February 10, 2016

Holiday Reflections

As we approach the Holiday Season and the end of the year it is a good time to reflect on what we are thankful for.  It could be something as simple as the fact that is hasn’t snowed yet (at least as of the day I am writing this) or having our health, or having […]
December 21, 2015

Kindness is contagious, Infect Someone Today!

Kindness is defined as the quality of being friendly, generous, and considerate.  When you hear the work kindness, what comes to mind?  For me, it could be one of many things; holding the door for someone, a warm smile and a kind word in passing, saying thank you to someone who has provided good service, […]
December 09, 2015

What are you thankful for?

As we contemplate Thanksgiving Day it is appropriate to ask that question.  I hope we will all be thankful for a satisfying meal taken with family and friends on November 26th.  But, beyond that – what are you thankful for?  I am blessed to have a wonderful family, good friends, my health, and a fulfilling […]
November 26, 2015

Path to Kindness

Our bank’s advertising tag line references “your path to prosperity.”  On November 13, 2015, which happens to be National Kindness Day, we launched our Path to Kindness initiative.  You can find details on our website or Facebook page.  Basically, we are asking our customers and friends to engage in calculated random acts of kindness (I […]
November 16, 2015

Surfing the Net is my Favorite Sport, how can I do it Safely?

The internet is a powerful resource that many Americans have come to depend on for everyday activities like shopping, banking, and connecting with friends. Yet, for all the internet’s advantages, it can also make users vulnerable to fraud, identity theft and other scams. Here are a few tips to help you stay safe and secure […]
November 12, 2015

Pay it Forward

Have you ever experienced “Pay it forward?”  Recently my wife and I were in the drive-up lane at Dunkin Donuts (don’t judge us) and when we pulled up we were told the person ahead of us had paid for our order.  We both smiled in gratitude and promptly paid for the order of the driver […]
November 10, 2015

12 Tips to keep your Smartphone Safe

The number of attacks on mobile devices is growing, in part, as a result of the increased popularity of mobile banking. According to a report by the Federal Reserve, 51 percent of smartphone users say they have used mobile banking in the past 12 months. Here are a few steps you can take to protect […]
October 27, 2015

8 Steps to Protect Yourself From Identity Theft

According to the Federal Trade Commission, identity theft has topped its list of consumer complaints every year, for the last 15 years. Identity theft occurs when a criminal obtains and misuses someone’s personal information without permission, typically for economic gain. For many victims, it can result in drained bank accounts, poor credit, and a damaged […]
October 22, 2015

What can I do to Keep my Business Safe?

This is an excellent question (so glad I asked it). We have seen instances of businesses getting compromised via emails that contain viruses.  When you open an corrupt attachment the hackers can monitor your email traffic and even send instructions to your bank that look legitimate.  So many businesses are being hit with this type […]
September 30, 2015

Summer, We Hardly Knew Ye

Well, where did it go?  It seems like we just finally got rid of the last of the snow yesterday and here we are; time for school and football.  The good news is that it was a very nice summer.  In my case it was filled with visits to and from family and friends.  Those […]
September 23, 2015

How to Protect Yourself When Going Mobile

I have to say, the smartphones of today are amazing.  To have that much information in your pocket is a wonder to an old dog like me.  Makes me wonder how we ever got along without them. That said, it is important to safeguard your mobile device to reduce the risk of identity theft. Here […]
September 22, 2015

Three Simple Steps to Frustrate Cyber Thieves & Keep your Identity Secure

By following these straightforward and sensible steps you greatly improve your chances against the cyber thieves. Make your passwords complicated.  I know, you are saying that’s fine but I have to be able to remember them.  Here is a trick I was taught by our IT person a few years ago.  Take a routine phrase […]
September 16, 2015

Graduated, Working, Deep in Debt

Today many young people come out of school with significant amounts of student debt.  In fact, 70% of the class of 2015 left school with student loans averaging $35,000 per student.  Ouch!  To repay that amount of debt will require a monthly payment of $354 for 10 years.  That will make it difficult for those […]
September 09, 2015

Have you Saved Enough for your High School Junior to go to College?

Has this thought crossed your mind: “My child is going into his high school junior year – what can we do now about paying for college?” Well, this is a challenging spot to be in – as a great many families have found out for themselves. You cannot turn back the clock but there are […]
September 02, 2015

For the New Parents Out There

  Congratulations on the birth of your child. Have you started saving for college, yet? Well, you had better get started soon! Here are some resources to help: First step is the Harold Alfond College Challenge grant. Each child born in Maine is eligible for a $500 grant to establish a college fund. Go to […]
August 27, 2015

The Key to Saving for Retirement

If you have a plan you are twice as likely to actually save for retirement. I hope I have convinced you that it is wise to save for retirement – and to begin now and keep saving faithfully until you do retire.  Fewer than half of Americans have done the math to determine what level […]
July 28, 2015

Why You Can't Afford Not To Contribute

“I can’t afford to contribute to my employer-sponsored retirement plan”. In reality, you can’t afford not to contribute, although 30% of employees forego their opportunity to get matching contributions.  Many employers offer attractive matching donations to employees contributing to their own retirement funds.  In a typical scenario you might contribute 4% of your salary to […]
July 21, 2015

I Don't Need to Save For Retirement

“I don’t need to save for retirement – I am only 25 years old.” Well, I have news for you.  You DO need to save for retirement and if you are 25 and haven’t started you are already behind! In my mind, saving for retirement is simple but not easy.  It is simple because “all” […]
July 14, 2015

What does Independence Day Mean to You?

Most of us look forward to July 4th as a day for family and fireworks.  Recently I was reminded of another aspect of our Independence, the high cost of maintaining it. About 100 of us were waiting to begin a golf tournament to raise funds in support of a worthy charity.  At the event were […]
July 04, 2015

What can I do through the Mobile Banking App?

  Well, just about everything is the short answer.  For starters, you can locate the nearest Biddeford Savings ATM or Branch Office.  But most of all you can do your banking! You can deposit a check using Mobile Deposit You can pay your bills using Bill Pay You can send money to a family member […]
June 30, 2015

Fun in the summertime!

  I hope you get the chance to enjoy some of Maine’s great outdoors during our (all too brief) summer season.  We are blessed to live in a state which offers so many activities – from the ocean to the mountains and with the lakes and ponds in between –there is always something to do. […]
June 23, 2015

Dad Gets His Day

Father’s Day comes around on June 21st this year.  Our children were born in 1988 and 1992 so this will be my 27th year as a father on Father’s Day.  If the children cannot be here they will call, or at least text, to let me know they are thinking of me. Being a father […]
June 16, 2015

On the Road Again

  If you have a debit card and are traveling out of the state or country this summer, please let us know before you go. By telling us when and where you will be traveling, we can do our best to safeguard your account without cramping your style. For instance, if you let us know […]
June 09, 2015

Man’s Best Friend is in Need of a Hand

Do you like dogs or cats or maybe both?  We currently have a wonderful 13 year old mutt – a pound puppy.  I tell her that she came from the rascal patch at the pound but over the years she has brought great joy to our family.  At least she has most of the time […]
June 01, 2015

5 Steps to Buying your First Home

You’ve made a wish list of what are looking for in your first home and you have an idea of how much you can spend. Now what? Have a Buyer’s Broker – Realtors “work” for the seller in a real estate transaction, that is who pays their commission after all. You can easily have a […]
May 19, 2015

Happy Mother's Day!

Mother’s Day is a very special day.  I am fortunate to have a Mom that raised me well.  On Mother’s Day I am reminded how important it is to say thank you to her.  Whether you send flowers, take her out for a meal, or just stop by to give her a smile and a […]
May 10, 2015

Buying your First House

Buying your first home is a big financial and emotional decision. If you are looking to buy your first home, make sure you do your homework. Here are some tips to get you started: Go to your local bank or their website (or to Biddeford Savings if you don’t have a local bank) to determine […]
May 05, 2015

Home Renovations are in Season!

We recently completed renovations at our branch in Waterboro.  Opened 20 years ago, the layout and décor both needed a little TLC.  Our customers and staff endured a challenging few weeks (that I am sure seemed like months) as the work was done around them. The good news is, the work is done and we […]
April 21, 2015

What are my Options to Pay for a Renovation Project?

Well, if you are the lucky type you can enter our Renovation Contest on Facebook for a chance to have Biddeford Savings fund part of your project’s cost.  Otherwise, you will need a good financial plan for your project.  Assuming you don’t have the cost of the project in your bank account (which I hope […]
April 14, 2015

Will Spring ever…?

Spring, that is.  I know that, technically, Spring has begun but it does not yet feel like it. As Spring comes each year I get excited to start thinking about Summer events.  Fun things like weeding the garden, spreading mulch, and mowing the lawn.  Wait, I meant to mention walking on the beach, biking outside, […]
April 09, 2015

Good customer service is simple. It is not easy! Part II

Clearly, the cruise companies know that good service is key to repeat customers and good word of mouth.  They have well defined service standards and train their staff thoroughly.  Perhaps more important, they hire people with the right attitude for the job at hand. Waitstaff need to be outgoing, engaging, and energetic.  The staff that […]
April 07, 2015

Good Customer Service is Simple. It is Not Easy!

  When I wrote this post I was sitting in an airport, heading back to Maine after a 10-day cruise.  The crew on the ship provided amazing service.  From the staff that checked us in for the trip to the cabin attendants to the waitstaff they had the service “thing” nailed. They were always cheerful […]
March 31, 2015

Guarded Optimism

By nature, I am an Optimist, one of those (sometimes annoying) people who always see the glass as half-full.  So, as we launch in to 2015 I look forward to it being a better year – at least in economic and business terms – than 2014.  Unemployment continues to decline, inflation is tame, and the […]
January 29, 2015

How to Take Control of Your Finances

Saving money is easy (well, easier) if you begin with the end in mind – in other words, have a goal. Once you have developed an understanding of where your money is going each week you can begin to think about how you might like to change your spending habits.  Setting goals involves deciding whether […]
January 20, 2015

Budget, We Don’t Need No Stinkin’ Budgets!

In recent years Congress has struggled mightily with the budget process but the truth is most of us are not much better at it than they are.  Depending on which poll you look at, somewhere between 40% and 60% of Americans keep and follow household budgets.  Now that I think about it, that is actually […]
January 13, 2015

Local Banking

  I hope you all had a wonderful holiday. Many of you, as I did, probably shopped at locally-owned businesses for some of your gifts this holiday season.  Local businesses are essential to the local economy. By shopping locally we helped our neighbors create jobs and build their businesses.  Banking is no different and where […]
January 06, 2015

Mobile Banking

Many of you, if we were well behaved during 2014, were blessed with holiday checks this season. But with your busy schedule you may not have the time to come into the bank to deposit them. With our Mobile Banking and Mobile Deposit services you have a Biddeford Savings branch in your pocket. These apps […]
December 30, 2014

Lights, Camera, Save!

One of the national banking trade groups is sponsoring a nationwide contest called, Lights, Camera, Save.  The contest solicits brief videos from high-school aged youth in which they communicate the value of sound money management; the value of saving money.  Entries are judged by a panel of film and financial experts and the final 8 […]
November 19, 2014

Veteran’s Day

It can be easy to take the freedoms we enjoy for granted.  But it is important to remember that those freedoms were established and are preserved only through the hard work and sacrifice of our Veterans. In November, we observe Veteran’s Day and this year we will honor the Veterans among us in each of […]
November 11, 2014


Citizenship is one of our 5 Core Values at Biddeford Savings.  We bring that value to life in many ways.  Members of our team are quite active in our communities, servings as board members and volunteers for a score of local organizations.  In fact, last year our staff members donated over 3,000 person hours in […]
November 05, 2014

Common Retirement Mistakes

What are a few of the most common errors people make when thinking about retirement? Failure to begin saving as soon as you begin working. Not having a plan. Not reviewing the plan semi-annually. Not evaluating your risk profile and matching your investments to it. Using the wrong mortality assumption when determining how much money […]
October 28, 2014

Review Your Retirement Plan Regularly

Okay, I have started saving. I have a good plan, now I can just coast until retirement, right? If you guessed, “Wrong” you are right. A retirement plan, like a relationship or a garden, requires tending. Semi-annual reviews of your investments and your plan are a good idea. As your plans for retirement become clearer […]
October 21, 2014

The Key to Retirement – Start Planning

Once you have started saving money it is important to create a plan for yourself. You will need to think about such things as; when do I want to retire, what will it cost me to live the type of retirement I desire (where do I want to live, how much travel do I wish […]
October 15, 2014

When to Start Saving for Retirement

If you are asking, “When should I start saving for my retirement?” my answer would be, “You are already too late!” While you can take steps to catch up, the reality is that you simply cannot begin saving too soon. My daughter just finished college and got her first job, I told her that she […]
October 09, 2014

4 Tips to Managing Your Checking Account

In my last two posts I offered some thoughts on why you might want to have a checking account and what your options are.  In this post, I will offer a few tips on the care and feeding of your checking account. As it relates to checking accounts, feeding is an important activity.  That means […]
September 25, 2014

What about Business Checking Accounts?

Just like consumers, business owners have a range of checking account options available to them. Oftentimes, small businesses may run the funds through their personal account. However, this is not the best option since it sometimes becomes very difficult to keep personal and business transactions separate. This can especially become an issue when it is […]
September 17, 2014

Understanding Checking Account Options

Back in the day, most banks offered consumers a checking account with the emphasis on “a” which means one size did fit all.  Today, banks of all sizes offer a sometimes dizzying array of different checking accounts.  Some have fees, some pay interest, some are free, and others are “free”. There are accounts that require […]
September 10, 2014

Why Should I Open a Checking Account?

That is an excellent question. In fact, there are several good reasons to establish a checking account. Once your funds are deposited in your bank account they are insured by the FDIC up to $250,000. A checking account is safer than carrying cash and they provide a convenient means of paying your bills (either by […]
September 04, 2014

Part 3: Saving For College

If you have a child you’re probably wondering where the money for college will come from. The most important step is to begin saving money for your child’s education when they are born. In Maine, the Alfond Foundation will start you off with $500 if you take the time to apply. Add this to a […]
August 20, 2014

Part 2: Saving for College

We have probably all seen the figures. Private colleges can cost over $60,000 a year while state universities can cost well over $20,000. Add in the cost of living, transportation, and incidental expenses and it can amount to an awful lot of money. Savings of $250,000 per child is simply not feasible for most people. […]
August 13, 2014

Part 1: Saving for College

    Is post-secondary education a good investment? There is significant research on this matter and the answer that consistently comes back is, yes.  Research has shown that an adult’s lifetime earnings with a bachelor’s degree are over $1 million higher than those with only a high school diploma, while associates degrees yield lifetime earnings […]
August 06, 2014

Part 4: Buying your First Home

You are almost home!  A lot of time and effort by many players has resulted in a final agreement on price, mortgage terms, and a closing date.  At this point the Bank hires a Lawyer to research the legal title to the property so that you can close on the purchase.  Having a Lawyer reviewing […]
July 24, 2014

Part 3: Buying your First Home

Okay, you have a good idea of your price range and what type of property and what town you wish to look at.  Now it is time to find a realtor in the town you have chosen – recommendations from friends or family can help find a good Realtor – and meet with them.  One […]
July 16, 2014

Part 2: Buying your First Home

Once you have established a price range to look in you will need to figure out whether you want a single-family house, a multi-family house, or a condo.  That is up to you but a couple of considerations are any future plans for children, desire and ability to maintain a property. Next up, deciding which […]
July 08, 2014

Part 1: Buying your First Home

So, you are thinking of buying your first home.  Well, you are in luck because this month I will have 4 posts which will help you to understand and survive the process of buying your first home.  The process is complicated and you will be well served to find competent professionals (Realtor, Banker, Home Inspector, […]
July 02, 2014

Will you be able to Retire?

A recent story run on NPR included the interesting fact that only 18% of Americans say they are “very confident” they will have enough money to retire comfortably.  Are you in that desirable minority?  If not, there are a couple of simple steps to take now to improve your odds of being happy then. First […]
June 23, 2014

Strengthening Community

I mentioned in an earlier post that last year our staff served over 4,000 volunteer hours in the communities we serve.  Those hours help the United Way, Sweetser Home for Children, Caring Unlimited, Heart of Biddeford, Junior Achievement, Maine Children’s Cancer Fund, and too many other agencies to list.  Our employees help at fundraising events […]
June 19, 2014

Making Their Day

One of our goals when serving customers is to “Make Their Day.”  Simply put, that means that as they leave the bank or get off the phone they are in a better mood than they were before coming in or calling.  Simply put but sometimes challenging to deliver on.  Some customers like to tell jokes […]
June 16, 2014

Keeping Yourself Current

I recently read a Wall Street Journal article entitled, “To Keep Your Job, Learn Something New.” The reported referenced a recent article from Oxford University which suggested up to half of the jobs in the US may be done by machines in just a “few decades.” My own experience tells me this is a real […]
June 10, 2014

Why I love working at Biddeford Savings

I truly enjoy coming to work each day.  Our staff are a great group of folks and we work together to serve our customers and our communities.  We have a number of employees with 20 – 40 years of service and another group who are early in their careers here.  Their ages range from the […]
June 02, 2014

The Road to Becoming a Great Public Speaker

I read an article today about how to be an effective public speaker.  It got me to thinking about the role of public speaking in business.  Over the past 30+ years in business I have had many opportunities to address audiences – at conferences, non-profit board meetings, staff meetings, you name it.  Early in my […]
April 02, 2014

Community Banks in Service to the Communities

I recently had a conversation with a customer who was upset that Biddeford Savings donated money to local non-profits. The customer’s reasoning was that those monies should go to customers of the Bank in the form of higher deposit rates and/or lower loan rates. While I do not agree with this customer (the customer is […]
March 26, 2014

Where is banking heading?

Today I am thinking about technology because I recently attended a national banking conference at which several speakers spoke about it. Before I go any further let me provide a bit of context – I am old enough to have been in the workforce BEFORE computers lived on every desk but still young enough to […]
March 19, 2014

What happened to civil discourse?

I guess I am getting old, since I now find myself reminiscing about the old days, when things were better. Mind you, I am still young enough to remember rolling my eyes when my parents did this, but that is beside the point. My point today is: why can we no longer disagree agreeably? Our […]
March 12, 2014

Gotcha’ Banking

I recently read an article online entitled, “What Happens If Banks Help Their Customers Instead Of Trying to Trick Them?” As near as I can tell, if “Banks” did that they would look like Biddeford Savings. For the past 145 years we have been helping our customers and our community. Yes, we charge fees for […]
March 05, 2014

A sterling credit rating is your best friend!

For almost every consumer a good credit rating will help you on your path to prosperity. In fact, without a good credit you will be hard pressed to qualify for a car loan, a home mortgage, a credit card, or even open a checking account. At a minimum your loan rates will be much higher […]
February 26, 2014

Getting Some Feedback

Do you actively solicit feedback from your customers? If you do, congratulations! If you do not, start immediately. All businesses lose customers over time, the key is knowing why you are losing them. Did they move out of your trade area, stop using the product or service you provide, or have you lost them due […]
February 19, 2014

Welcome to our blog!

Most evenings, weather and schedule permitting, I take our dog out for a walk at dusk. Merrell (she is the small furry one in the picture above) and I walk on a golf course alongside a tidal river. It is a lovely place for a quiet, reflective walk. At least for me it is. Merrell, […]
February 14, 2014