General Info

Founded in 1916, Pilgrim Bank is your hometown bank, committed to giving local residents the best banking service and value around. About Pilgrim Bank As a mutual institution we are owned by our customers, not by stockholders, which allows us to remain focused on providing a superior level of customer service. We believe in putting our customers first - it's this commitment to quality we call the "Pilgrim Difference." We also offer a wide array of services and products to our customers including free checking and free online banking and bill payment, a variety of savings and investment options and flexible mortgage and home equity solutions. We also provide small businesses with a range of deposit and lending solutions to keep your business running smoothly. It is the goal of Pilgrim Bank to provide a high level of customer service and satisfaction to our customers. The foundation of this high quality service is the delivery of a full range of superior products and services designed to meet the financial needs of our customers in a friendly, knowledgeable, courteous, and professional manner. The Bank will provide an environment for its dedicated and committed professionals that encourages and supports involvement and responds to the financial needs of the community. Deposit Insurance Your deposits are insured in full. Pilgrim Bank your deposits are insured in full by the Federal Deposit Insurance Corporation (FDIC) up to the limits. The Share Insurance Fund of Massachusetts (SIF) insures deposits above that level. There are no maximum account limitations or amount limitations. FDIC Deposit Insurance Coverage Basic Insurance - The standard maximum deposit insurance amount is $250, 000 per depositor per insured deposit institution for each ownership category. This coverage was made permanent by the Dodd-Frank Wall Street Reform and Consumer Protection Act of July 2010. Deposits in different institutions are insured separately. However, if an institution has one or more branches, the main office and all the branch offices are considered to be one institution. Deposits maintained in different categories of legal ownership at the same bank can be separately insured, making it possible to have deposits of more than $250, 000 at one insured bank and still be fully insured. This can increase your coverage to as much as $3, 000, 000.