Medway, Mass ( April 22, 2024) – Charles River Bank has been approved to participate in the Federal Home Loan Bank of Boston’s homeownership assistance programs, Equity Builder Program and Housing Our Workforce. Both programs provide assistance to income-eligible homebuyers who are purchasing one- to four-family homes that will serve as their primary residence.

The Equity Builder Program (EBP) provides grants to financial institutions to help local first-time homebuyers with down payments and closing costs as well as homebuyer counseling and rehabilitation assistance. Borrowers earning up to 80% of the area median income are eligible to receive up to $30,806 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling.

Housing Our Workforce (HOW) enables financial institutions to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments and closing costs. Borrowers can receive 10% of the home sales price or up to $25,000 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling if they are a first time homebuyer.

Charles River Bank is eligible to receive up to $350,000 through the EBP and up to $260,000 through HOW depending on availability of funds in 2024.

“Charles River Bank is proud to offer these grants to help our borrowers become homeowners. We are committed to helping individuals as well as families achieve affordable home ownership, especially during a very challenging time in the housing market,” said Cheryl Beauvais, Senior Vice President & Senior Retail Lending Officer of Charles River Bank.

To learn more about applying for assistance through these programs please contact AVP & Mortgage Loan Officer Mickee Whitney at (508) 321-3142 or email info@charlesriverbank.com.

Charles River Bank—with assets of $300 million—was founded in 1915, and continues to offer a wide range of individual and business banking services. The Bank’s Main Office is located at 70 Main Street in Medway, with state-of-the-art branches located on the Bellingham/Franklin town line on Route 140, and in Mendon at 1 Hastings Street at the intersection of Rte. 16 and North Avenue. Charles River Bank also operates a branch in Medway High School. In 2023, Charles River Bank contributed more than $42,000 to community non-profit organizations. For more information call 508-533-8661 or visit www.charlesriverbank.com.

Retired CRB President & CEO Jack Hamilton’s Passing

It is with great sadness that we share the news of the unexpected passing on December 29, 2023 of retired Charles River Bank President & CEO John S. Hamilton, or as we all knew him, Jack.  During his 20+ year tenure, Jack led our team through strategic changes that have made a positive, lasting impact on our bank, our customers, and our community.

In 2001, Jack took on the President & CEO role at Medway Cooperative Bank. Early on, Jack recognized the opportunity to expand our reach into more local communities. He led the bank through a name change to Charles River Bank in January 2009 and the creation of Charles River Bancorp, MHC.  Those decisions supported our successful future financial stability and growth, which culminated in the opening of three additional offices in Bellingham, Mendon, and Medway High School.  Jack focused on building of CRB’s commercial and residential lending portfolios, and expansion of product offerings and technology services.  He brought state of the art banking design to our customers with a complete renovation of the Main Office in Medway, completed in time for the CRB’s 100^th Anniversary celebration in 2015. Charles River Bank’s assets grew 3-fold under Jack’s leadership.

With his extensive industry knowledge and decisive tactics, Jack faced the challenges of the 2008/2009 financial crisis with aplomb.  He more recently managed the Bank successfully through the 2020 Covid pandemic so CRB was prepared to assist customers remotely or safely in-branch with minimal impact to service.

Jack was very active in community organizations and industry groups.  He served as a corporator and a member of the Golf Tournament Committee of Milford Regional Medical Center, as a former director of the Medway Foundation for Education, a founding member and director of Mendon-Upton Education Foundation, and former director of the Tri-County Chamber of Commerce.  He was a board member of The Co-operative Central Bank (2006-2009), New England Association of Retail Lenders, New England Mortgage Insurance Exchange and New England Insurance Trust.  He helped countless people obtain business and home loans, and always made sure that every possible avenue was explored to make a loan that made sense for the borrower and the bank, even if it didn’t seem possible at first.

To his CRB team members, Jack was a smart common sense leader with strategic vision, an incredible resource for all things banking related, with an open door policy.  After his retirement as President & CEO on December 31, 2021, Jack continued to serve as director of Charles River Bank and a trustee of Charles River Bancorp, MHC.

Jack was an avid golfer and enjoyed fishing. He was passionate about playing and collecting guitars.  Jack loved all dogs, especially Rhodesian Ridgebacks, which he raised and showed competitively.  The Charles River Bank family offers our sincerest condolences to his wife Trish, brother Peter Hamilton, sister Linda Dolan, his family and many friends.

Details regarding Jack’s memorial service can be found here:

https://www.edwardsmemorialfuneralhome.com/obituary/John-Hamilton

Charles River Bank Proudly Sponsors

The Annual Medway Christmas Parade

Photo Caption:  (Medway) Charles River Bank’s President and CEO Derek Plourde (center right) presents a donation check of $1,000 to the Medway Christmas Parade Committee, represented by (L-R) Richard Parrella, Julie Harrington, Allen Tingley, Tim Rice, Charlene Tingley, and Joanne Russo. The Annual Christmas Parade will be held on Saturday, November 25^th, and will begin at 5:30 pm at the Medway High School and proceed left onto Summer Street, left on Milford Street to Franklin Street, left onto Village Street into Medway Village continuing onto Holliston Street, left onto to Main Street, and ending at Choate Park and the Thayer House. The parade will culminate with ceremonies at the Thayer House that includes the presentation of service awards with music, food concessions, and a visit from Santa Claus! A spectacular fireworks show and festive tree lighting conclude the evening’s events.

Charles River Bank—with assets of $303 million—was founded in 1915, and continues to offer a wide range of individual and business banking services. The Bank’s Main Office is located at 70 Main Street in Medway, with state-of-the-art branches located on the Bellingham/Franklin town line on Route 140, and in Mendon at 1 Hastings Street at the intersection of Rte. 16 and North Avenue. Charles River Bank also operates a branch in Medway High School. In 2022, Charles River Bank contributed more than $36,000 to community non-profit organizations.

For more information call 508-533-8661 or visit www.charlesriverbank.com.

Join Charles River Bank Help

Make Holiday Wishes Come True

Every year Charles River Bank (CRB) participates in the Angel Tree Program offered by the Salvation Army of Milford, MA. The Bank pledges to adopt 30-35 children each holiday season and CRB employees, as well as generous customers and community members, are matched with these local children in need.

The Angel Tree Program gives the children’s holiday wish list to those who have offered to be sponsors. If you are interested in getting a wish list tag(s), email info@charlesriverbank.com or speak to a Personal Banker at any CRB location.  Angel Tags will include the child’s name, age, clothing size and some requests for specific clothing, gifts and toys.

All gifts must be brought to Charles River Bank’s Medway office by in early December. Gifts must be new, unwrapped, and in a sturdy bag with the wish list tag attached to the outside.

Charles River Bank is also excited to announce that we will be hosting a food drive. Please bring any non-perishable foods to your local Charles River Bank branch in Medway, Mendon, or Bellingham starting December 1^st. The food will be distributed to local Food Pantries in early January.

Charles River Bank—with assets of $303 million—was founded in 1915, and continues to offer a wide range of individual and business banking services. The Bank’s Main Office is located at 70 Main Street in Medway, with state-of-the-art branches located on the Bellingham/Franklin town line on Route 140, and in Mendon at 1 Hastings Street at the intersection of Rte. 16 and North Avenue. Charles River Bank also operates a branch in Medway High School. In 2022, Charles River Bank contributed more than $36,000 to community non-profit organizations.

For more information call 508-533-8661 or visit www.charlesriverbank.com.

Charles River Bank Holds Annual Dinner Meeting with Milestone Service Anniversaries Recognized

Photo Caption:  At Charles River Bank’s Annual Dinner Meeting, Bookkeeper Kathy Antonellis is recognized by President & CEO Derek Plourde for her 25 years of service.

Charles River Bank’s Annual Dinner Meeting was held on October 17^th at Galliford’s Restaurant in Mendon, MA. Chairman of the Board Steven Richardson opened the meeting by welcoming team members, directors and invited guests. President and CEO Derek Plourde then expressed his thanks for their continued dedication to providing stellar service to our customers, fellow team members and our community.  Then, the following team members were recognized for reaching milestone anniversaries with Charles River Bank (CRB) in 2023: 25 Years – Bookkeeper Kathy Antonellis; 20 Years – SVP/Chief Customer Care & Marketing Officer Ann Sherry; 15 Years – SVP/CFO Robert Leist; 10 Years – SVP/Senior Retail Lending Officer Cheryl Beauvais; 5 Years – Medway Branch Supervisor Rachel Diaz, President & CEO Derek Plourde, and Facilities Coordinator Doug Downing.

Following the award presentations and dinner, the Social Ones, CRB’s employee activity committee, led a video trivia game using little known facts about employees that required team work to win.

President & CEO Plourde stated, “Our Annual Dinner Meeting provides a wonderful opportunity to acknowledge every team member, but especially those who have reached milestones in their length of service with Charles River Bank.  It’s always wonderful to see our people who work in different offices and departments get to know each other in an atmosphere of fun and camaraderie.”

Charles River Bank—with assets of 303 million—was founded in 1915, and continues to offer a wide range of individual and business banking services. The Bank’s Main Office is located at 70 Main Street in Medway, with state-of-the-art branches located on the Bellingham/Franklin town line on Route 140, and in Mendon at 1 Hastings Street, at the intersection of Rte. 16 and North Avenue. Charles River Bank also operates a branch in Medway High School. In 2022, Charles River Bank contributed more than $36,000 to community non-profit organizations.

For more information call 508-533-8661 or visit www.charlesriverbank.com.

Derek Plourde

President & CEO

With news of military activity, political division, climate change and inflation dominating headlines, I hope that you are able to enjoy some cherished time with your family and friends, and experience the beauty and bounty of autumn in New England.

We have good news to share! Charles River Bank (CRB) won medals in 3 categories at the 2023 MyFM 101.3 Quest for the Best Awards. We brought home Gold in Bank, Silver in Wealth Management, and Silver in Mortgage Lending, all thanks to your continued support.

Over the past year, the banking industry has experienced some challenges with a rapid increase in interest rates by the Federal Reserve. In March, some of our nation’s large banks encountered the perfect storm.  These institutions had notable risk factors that made them susceptible to the sudden interest rate changes, along with concentrations of loans and deposits in more volatile industries.  The result was a liquidity crunch that ended in their collapse. In contrast, CRB’s assets include a wide variety of loans to homeowners and business entities throughout our community, and other diversified investments, with no specific concentrations in any one industry. CRB has continued to have strong financial results throughout the year, with above average results vs. our peer group in key metrics including: Net Interest Margin, Return on Assets, Return on Equity, and Efficiency Ratio.

Recently, some mega banks have announced plans to close offices within the communities we serve.  If you or your family, friends or colleagues are impacted by this, the CRB team is here to help.  Our bank was founded in this community 109 years ago, and our success is intrinsically tied to the people and businesses here.  And unlike the big national banks, or many other local banks, every dollar deposited at CRB is insured in full with FDIC covering the first $250,000 and DIF covering all deposit balances in excess of FDIC limits.

CRB’s continuing success is thanks to our customers, dedicated customer care team, and experienced leadership.  Rest assured that CRB will be here with the personalized solutions to meet your financial needs delivered with the highest level of service you deserve and expect, now and into the future.

I thank you for choosing Charles River Bank as your financial service provider.

Derek Plourde

President & CEO

Your Personal Financial Management Tool – Manage My Money (MX) – is Here!

In response to the growing need customers have for real-time financial updates across all financial institutions, Charles River Bank introduces Manage My Money (MX).  This new feature is now available within CRB’s Online and Mobile Banking. With this powerful personal financial management tool, you can:

• View all of your accounts (at CRB or ANY financial institution) including savings accounts, checking, 401k, investments and loans, along with transaction amounts and details.
• Get the most complete picture of your financial health while logged into your CRB online or mobile banking.
• Set budgets and track spending by specific categories across all of your credit cards and deposit accounts.
• Get recommendations to create the most effective, money saving plans for loan pay downs.
• Easy to read charts and graphs give you simple visual summaries of current finances and your progress over time.

Stop in any CRB branch or give us a call and we will happily demonstrate Manage My Money  functions and answer any questions you may have.  Manage My Money can be found at the top right Tab when logged into online banking, or from the upper left function menu in your CRB mobile APP.

Mega-Banks:  Too big to stay?

Recently a number of larger regional and national banks announced that they closing offices in our local communities, leaving their customers with challenges accessing ATMs, Safe Deposit Boxes, and in branch services. Other national banks have stopped offering specific products like retirement account CDs.  It seems that service is secondary to profits with these giants.

Charles River Bank (CRB) was founded locally 109 years ago and is here to stay. As a mutually controlled bank, our priority is our depositors and the communities we serve, not corporate shareholders.  Our continued success is intrinsically tied to the financial success of the individuals, families, businesses and organizations here. We are here for you, today and in the future.

So if you are looking for the convenient services, e-banking solutions, competitive interest rates, with personal connections that the big banks lack, CRB is here for you.  CRB customers have easy access to more than 40,000 surcharge free ATMs at our offices and across the country at SUM or MoneyPass (https://www.sum-atm.com/ https://moneypass.com/ ) ATM locations.  Safe Deposit Boxes are also available in a variety of sizes at all CRB offices.

CRB also offers an important benefit that national banks and most local banks can’t – full deposit insurance.  Your deposits are Charles River Bank are insured up to 250 thousand dollars through FDIC and every dollar above FDIC limit is insured by DIF (https://www.difxs.com/DIF/Home.aspx ). So you can rest easy knowing ALL your money deposited at CRB is always safe and secure.

If you or anyone you know is being affected by these big banks leaving or reduced product offerings, call us at (508) 533-8661, email info@charlesriverbank.com or visit any CRB branch! We’re happy to help in any way we can!

PERSONAL BANKER I

Department: Retail Banking

Reports to: Branch Officer

Summary:  Processes customer transactions and cash handling. Provides customer service (in person, via phone, or online) such as addressing online and mobile banking inquiries, places check orders, assists with ATM/Debit Card issuing and PIN resets, and conducts ATM balancing when requested. Assist customers with queries concerning financial institution and recognizes and acts upon opportunities to expand customer relationships. Responsible for achieving established customer engagement and service goals.

Judgment:  Work is performed under the direct supervision of the Manager, Assistant Manager or Head Teller, following established routine and standard banking procedures. Requires some judgment and initiative in identifying customer needs for Bank services and products. Refers all questionable situations to supervisor or bank officer.

Supervisory Responsibilities:

N/A

Job Requirements:

• High school diploma or equivalent, supplemented by on-the-job training; college degree is a plus
• Bank-related and computer courses. Above average computer and keyboard skills, proficient in Microsoft Windows, Word, Excel and Outlook.
• Six months or more experience in the teller function or cash handing, as well as sales experience, particularly in cross-marketing products and services.
• Excellent interpersonal and communication skills.
• Good understanding of financial products and services.
• Strong organizational skills

Specific Job Functions:

• Processes all transactions including deposits, withdrawals, loans payments, currency requests and other teller transactions.
• Assists with proving ATM, processing Night Deposit transactions.
• Provides a range of customer service at the financial institution, engaging with customers to identify needs, explaining available financial institution products and services.
• Answers online, telephone and in person inquiries.
• Daily use of online banking systems, debit card, credit card, check ordering, and other partner systems to provide high level of service to customers.
• Completes arrangements and documents for special services such as exchanges of foreign currency and processing savings bond transactions.
• Identifies customer needs and actively refers loan, investment, insurance, and brokerage services to appropriate financial institution specialists.
• Participates in sales, service and product training meetings.
• Follows policies and procedures related to retail and lending.
• Performs related duties as assigned by supervisor.

Physical Requirements:

Ability to communicate clearly and concisely with customers; eyesight and hearing at a level that does not interfere with customer communication. Mobility to move throughout the Bank building and to climb stairs, such as providing access to the safe deposit area and moving outside of the Bank to make calls, participate in community or networking events to promote the Bank.

Together we create the best defense against Fraud.

Every day, fraudsters, scammers and thieves get more creative in their attempts to access your personal information, gain access to your accounts, or convince you to send money.  Banks across the country are seeing even more fraud attempts during the Holiday Season.  There is nothing more important than keeping your banking secure and your information safe.  Charles River Bank has multiple layers of protection for any banking transactions, including online, mobile, debit MasterCard®, ACH, Wire and others.  But the ability of our systems to offer the highest level of protection relies on you to also take proactive steps.  As always, please be alert and never give out your personal information unless you know it’s a trusted and verified source, and please do not click on any links if you are unsure if they are from a legitimate source.  Some of the most important things you can do to protect yourself are outlined below.

Steps to Protect Yourself from Fraud

1. Review your account activity regularly. You can do this anytime, day or night, by using CRB’s online banking or the CRB mobile app. If you don’t use digital banking, check your account statements as soon as they arrive. Notify CRB, by phone or via online/mobile banking, if you see any account activity that you did not authorize so we can take steps to protect your account.
2. Set up Alerts & Notifications. This is an easy way to get regular notification by text or email of any transactions you choose (e.g. withdrawals over a specified amount, low balance warnings, debit card transactions, transfer notices, etc.) They can be easily set up in your CRB online or mobile banking.  Just click on My Profile, then select Additional Services and Manage My Alerts.
3. Keep tabs on your debit card. If you lose a card or think it might be lost or stolen, you can contact us, or deactivate your debit card anytime using your CRB online/mobile banking. Our processing systems are always on the lookout for unusual debit card activity and may reach out to you via text message or phone to verify. If you ever have a question regarding communication you have received, you can always call CRB’s main phone number 508-533-8661 during business hours or (833) 337-6075 after hours for assistance.
4. Password Safety. Create long, strong passwords, utilizing upper and lower case letters, numbers and special characters. Do not reuse passwords for multiple websites, apps, or online banking. Reused passwords make it easier for fraudsters to access multiple sites to access your credit card, debit card, or bank account information associated with shopping apps or other websites.
5. Update your Software & Apps Regularly. The majority of people do not know if their antiviral software on their laptop or PC is up to date, while others are not automatically updating apps on mobile devices. If these are not regularly updated, malware and other viruses can be easily transmitted to your software that allow fraudsters to record your keystrokes or allow tracking of your online activity. It’s like giving your UserID and passwords to strangers. Software and app companies are constantly monitoring and advancing their products to stay well ahead of hackers. They push updates to you that fix general software problems and provide new security patches and tools, protecting your data from being exposed to criminals. Be safe and perform the update as soon as you are notified.
6. Check theft and fraud still occurs. Thieves still target checks, stolen or copied, as a way to access your account.  In our local area, many people have mail boxes at the end of their driveway.  Never place your outgoing mail – like bills with checks enclosed – in your mail box since those envelopes can be easily stolen, which gives a thief your name, address, bank account number, signature, and potentially the account number of other accounts you are paying.  With digital technology, they can easily replicate your checks and signature to transfer money from your account. Always use official USPS drop boxes inside the post office, hand your mail directly to your mail carrier, or use online bill pay for more secure payments.

We hope you find this information helpful.  Your CRB Customer Care Team is here to help answer questions about your accounts or any security related matters. If you notice any unusual account or debit card activity, call us immediately at 508-533-8661.  To report fraud or a lost or stolen CRB Debit MasterCard® after business hours, call (833) 337-6075. These numbers can also be found on our website www.charlesriverbank.com and are printed on the back of your debit card.

Charles River Bank President & CEO Derek Plourde

The Charles River Bank (CRB) Board of Directors, at the December 21, 2021 meeting, appointed Derek Plourde to the office of President & Chief Executive Officer effective January 1, 2022. Mr. Plourde succeeds John (Jack) Hamilton who will retire as of December 31, 2021, after a 20-year tenure with the Bank.

Prior to this promotion, Plourde served as CRB’s Executive Vice President & Chief Operating Officer. Plourde joined CRB in 2018 as Senior Vice President/Senior Commercial Lending Officer.

Plourde has more than 25 years of experience in the financial services industry, with extensive knowledge of commercial lending, financial analysis, specialty lending, special assets, and relationship management. He graduated Summa Cum Laude from Bowdoin College in 1994 with degrees in Economics and Government Legal Studies and was inducted into Phi Beta Kappa. Plourde will graduate in 2022 with a degree from the intensive 3-year program at the University of Wisconsin-Madison Graduate School of Banking, along with a Certificate of Executive Leadership from the Wisconsin School of Business.

Steven M. Richardson, Chairman of the Board of Directors of Charles River Bank stated, “With his professional experience, industry knowledge, familiarity with our customers and community, and rapport with the entire team, Derek is the best person to lead Charles River Bank. We are confident that Derek can successfully navigate challenges presented by the ever-changing regulatory environment of banking, continual advancements in technology, and the impact of the ongoing global pandemic so that Charles River Bank remains the preeminent community bank in our market area.”

“I am honored and humbled to be selected as Charles River Bank’s President & CEO. I look forward to leading a phenomenal group of talented, seasoned, and dedicated community bankers. Our team will continue to provide exceptional product offerings, creative financial solutions, and personalized service to the individuals, families, and local businesses that are the foundation of our thriving community,” stated Plourde.

Plourde lives in Uxbridge with his wife, Laural, and two sons, Riley and Hayden. He is an active member of the Milford Rotary Club and served on the Board of Directors for the Milford Area Chamber of Commerce. In his free time, Plourde enjoys golfing and martial arts.