Savings Bank of Walpole looks to move into Rindge

  • The former GFA Federal Credit Union on Sonja Drive in Rindge is slated to be a new branch for Savings Bank of Walpole. STAFF PHOTO BY ASHLEY SAARI—

  • The former GFA Federal Credit Union on Sonja Drive in Rindge is slated to be a new branch for Savings Bank of Walpole. STAFF PHOTO BY ASHLEY SAARI—

  • The former GFA Federal Credit Union on Sonja Drive in Rindge is slated to be a new branch for Savings Bank of Walpole. Staff photo by Ashley Saari—

Monadnock Ledger-Transcript
Published: 6/30/2022 10:39:46 AM

Savings Bank of Walpole plans to open a new branch in Rindge, in the former GFA Federal Credit Union, this January.

The bank has filed applications with the FDIC and New Hampshire Banking Department to open a new branch at 31 Sonja Drive, its seventh in the Monadnock Region, and second new branch in the past year.

Mark Bodin, president of Savings Bank of Walpole, said the company has always focused in the southern New Hampshire region, and has always had a community-driven focus.

“We don’t just come to be a new local bank; we look at it as how do we be part of the community,” Bodin said.

The Savings Bank of Walpole has locations in Walpole and Keene, and opened a new branch in Winchester in November. According to Senior Vice President of Retail Administration Dominic Perkins, the Rindge branch will be a full-service branch, with the same services as the Keene, Walpole and Winchester locations.

“There are downsides to being a one-market business, but there are positives, too,” Bodin said. “We care about the area. As we see other banks consolidating and closing, we see opportunity. Throughout the pandemic, we see more and more that ‘local’ is staring to matter to people more than ever. People are more interested in investing in a bank knowing that their money will be reinvested into their own community and local businesses.”

“Savings Bank of Walpole has a nearly 150-year history of supporting the local communities we serve, and we are excited about opening a new branch in Rindge to expand our support of the Monadnock Region,” stated Senior Vice President of Commercial Lending Ben Wheeler of Jaffrey, in a release from Savings Bank of Walpole. “I look forward to working with local businesses and being a great community neighbor.”

The bank plans to offer a mortgage loan officer in the Rindge branch, as well as access to wealth-management services.

“We think that’s a big advantage, having someone in the local branch, that knows the area,” Bodin said of having a mortgage loan officer on site. “Our decision processes for lending don’t go somewhere else; they’re done locally. We like the fact that all the decisions are made right here.”

Bodin said the bank is in the filing period with the FDIC, and as of June 30, the public has 15 days to comment on the prospective new bank. He anticipates that by late July, Savings Bank of Walpole will have the approvals needed to move forward to start interior renovations of the former GFA, including a community room that will be available for small groups from the community.

Bodin said the bank should be open to the public sometime in January, though that timeline may be affected by ongoing supply-chain issues that are affecting businesses across the board.

“Everything is just so slow right now, the reality is, who knows, but we think that’s conservative,” Bodin said.

Ashley Saari can be reached at 603-924-7172 ext. 244 or asaari@ledgertranscript.com. She’s on Twitter @AshleySaariMLT.


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