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It’s been a year since the Federal Deposit Insurance Corporation (FDIC) conditionally approved a de novo charter for Primary Bank. Based in Bedford, NewHampshire, the new Primary Bank raised an astounding $29 million after obtaining approval for its charter on March 17th of 2015.
If it opens its doors as planned in January 2022, Walden Mutual Bank will be the first new mutual bank charter in NewHampshire in a century and the country’s first new mutual charter in five decades. The planned de novo in Concord, N.H., It is rare to have that level of experience,” Cummings says.
The concept was new, and growth was projected to be robust, albeit not off the charts. The FDIC required the bank to raise $20 million in capital, a tidy sum back in the 1990’s when banks got started with less than half as much. Primary Bank in NewHampshire, started last year, raised around $27 million.
We’re delighted to bring our Northern Vermont and NewHampshire communities a simple, yet powerful way to grow your money. Please be advised that certain investment products, including but not limited to IRAs and 401(k)s, are not insured by the FDIC and carry the risk of potential loss of value. Call us at 800-753-4343.
They are exceptionally low-risk—returns are guaranteed and unlike market investments they are FDIC insured for up to $250,000. Whether you’re seeking wealth management advice for retirees, business owners, new parents, or newly weds, we can help.
Together, we can turn the complex world of investing into an opportunity that’s accessible and rewarding for everyone in our Vermont and NewHampshire communities. The Union Bank mobile app provides an investment tool for the masses!
Traditional CDs are insured by the FDIC for up to $250,000 per account, making CDs a very low-risk investment. And we have some of the best CD rates in NewHampshire and Vermont, too! Advantages of CDs CDs are a niche savings product with a lot of benefits, especially for certain uses. Predictability. Still have questions?
Union Bank’s long history in the community is the reason our Vermont and NewHampshire clients put their trust in us. Choose the investment advisors that are recognized by the people who live in your community. Contact our team today to discuss your financial hopes and goals!
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