Who We Are
In 1886, the town of Stoneham faced a sagging economy primarily due to the weakening of the once prosperous shoe industry. Facing uncertain economic times, Stoneham residents had few places to turn for financial support. It was at this point that a group of Stoneham citizens got together at the Town Office to consider the feasibility of establishing a co-operative bank in Stoneham.
On January 10, 1887, StonehamBank was established to assist the town and its citizens in the transition from an industrial center to a residential community populated by individuals who work outside of its borders. Being state chartered as a co-operative bank meant that its directors would be elected by its shareholders, giving customers a real voice.
StonehamBank still operates under the same premise today - more than 130 years later. As a mutual institution built on the fundamental principles of service, excellence, and trust, StonehamBank continually strives to exceed expectations for the benefit of the community and customers. Together, the team consistently works to achieve common financial goals and provide more opportunities for financial growth and success. As an integral part of the community, you can count on StonehamBank as a financial partner that will deliver an Optimum Banking™ experience with effective financial solutions that will help you do more.