The Comprehensive Guide to Chelsea Groton Bank in Groton, CT

Chelsea Groton Bank has been serving the community of Groton, Connecticut, and the surrounding area for over 150 years. With a focus on personal and business banking, Chelsea Groton Bank offers a wide range of financial products and services to meet the needs of its customers.

History of Chelsea Groton Bank

The bank was founded in 1854 as the Chelsea Savings Bank. In 1992, it merged with Groton Savings and Loan Association to form Chelsea Groton Bank.

Products and Services

Chelsea Groton Bank offers a wide range of products and services, including:

• Personal checking and savings accounts
• Business checking and savings accounts
• Loans (personal, business, auto, mortgage)
• Credit cards
• Wealth management
• Trust services

Locations

Chelsea Groton Bank has 12 branches in Groton, Mystic, New London, North Stonington, Pawcatuck, Norwich, and Waterford.

Financial Strength

Chelsea Groton Bank is a well-capitalized bank with a strong financial performance. According to the Federal Deposit Insurance Corporation (FDIC), Chelsea Groton Bank had assets of $1.8 billion and deposits of $1.5 billion as of June 30, 2022.

Awards and Recognition

Chelsea Groton Bank has been recognized for its excellence in banking by several organizations, including:

• BauerFinancial, 5-Star Superior rating
• Newsweek, Best Banks in America
• J.D. Power, Highest in Customer Satisfaction with Retail Banking in the Northeast

Why Bank with Chelsea Groton Bank?

There are many reasons to bank with Chelsea Groton Bank, including:

• Local decision-making: Chelsea Groton Bank is a community bank that makes decisions locally. This means that you can get the personal service and attention you need from a bank that knows you and your community.
• Competitive rates: Chelsea Groton Bank offers competitive rates on all of its products and services.
• Convenience: Chelsea Groton Bank has 12 branches in the Groton area, so you can easily find a branch that is convenient for you.
• Online and mobile banking: Chelsea Groton Bank offers online and mobile banking so you can manage your finances anytime, anywhere.
• Friendly and knowledgeable staff: Chelsea Groton Bank's staff is friendly and knowledgeable and is always willing to help you with your banking needs.

Tips and Tricks

Here are a few tips and tricks for banking with Chelsea Groton Bank:

• Use online and mobile banking. Online and mobile banking are convenient and easy ways to manage your finances.
• Set up automatic transfers. Automatic transfers can help you save money and stay on track with your budget.
• Take advantage of Chelsea Groton Bank's financial planning services. Chelsea Groton Bank offers a variety of financial planning services to help you reach your financial goals.
• Talk to a Chelsea Groton Bank representative. Chelsea Groton Bank's representatives are always willing to help you with your banking needs.

Common Mistakes to Avoid

Here are a few common mistakes to avoid when banking with Chelsea Groton Bank:
- Overdrawing your account. Overdrawing your account can result in fees.
- Not using online and mobile banking. Online and mobile banking are convenient and easy ways to manage your finances.
- Not taking advantage of Chelsea Groton Bank's financial planning services. Chelsea Groton Bank offers a variety of financial planning services to help you reach your financial goals.

How to Step-by-Step Approach to Banking with Chelsea Groton Bank

Here is a step-by-step approach to banking with Chelsea Groton Bank:

1. Open an account. You can open an account online, by phone, or at a branch.
2. Set up online and mobile banking. Online and mobile banking are convenient and easy ways to manage your finances.
3. Deposit money into your account. You can deposit money into your account online, by phone, at an ATM, or at a branch.
4. Withdraw money from your account. You can withdraw money from your account online, by phone, at an ATM, or at a branch.
5. Pay bills. You can pay bills online, by phone, or at a branch.
6. Transfer money between accounts. You can transfer money between accounts online, by phone, or at an ATM.

Conclusion

Chelsea Groton Bank is a local community bank that offers a wide range of products and services to meet the needs of its customers. With a focus on personal and business banking, Chelsea Groton Bank is committed to providing excellent customer service and financial advice.