Hours 781-935-3318 237 Lexington Street, Woburn, MA 01801

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FAQ'S ABOUT THE MERGER

Mar 1, 2022

FAQs About the Merger of Patriot Community Bank with East Cambridge Savings Bank

WHY IS PATRIOT COMMUNITY BANK MERGING WITH EAST CAMBRIDGE SAVINGS BANK?
Both banks operate with a similar business model, offering compatible products and services. Our organizations have similar corporate cultures, and we credit our success to the confidence and trust of the customers we have served. By merging our two institutions, we will provide expanded access to more retail banking locations, enhanced products and services, and a broader range of credit options for our customers and the communities served by both banks.

WHAT WILL BE THE NAME OF THE BANK?
Upon completion of the merger, Patriot Community Bank will become East Cambridge Savings Bank.

WHAT WILL HAPPEN TO THE PATRIOT BRANCH AND THE STAFF THAT WORK THERE?
The Patriot Community Bank office, located at 237 Lexington Street, Woburn, will operate as a Banking Center of East Cambridge Savings Bank. Patriot Community Bank employees will be offered the opportunity to join East Cambridge Savings Bank. John O'Donnell, current President and CEO of Patriot Community Bank will continue to work at the Banking Center and will join East Cambridge Savings Bank as Executive Vice President and member of East Cambridge Savings Bank's lending team.

WHEN WILL THE MERGER TAKE PLACE?
The merger is subject to approval by the Corporators of 1854 Bancorp, Patriot Community Bank Shareholders, the Board of Governors of the Federal Reserve System, and the Massachusetts Division of Banks. The transaction is expected to close third quarter 2022.

WILL MY ACCOUNTS BE AFFCTED?
Patriot Community Bank customers: Some changes may be made when Patriot Community Bank accounts are eventually converted to East Cambridge Savings Bank, but we're confident that all accounts will have the best features of both banks. In the coming months, there will be ongoing customer communication that will outline what, if any, changes to expect.

East Cambridge Savings Bank customers: Your accounts will not be affected by this merger. Once the merger is completed, you will be able to bank at the Patriot Community Bank branch location.

WHAT SHOULD I DO WHILE WAITING FOR THE MERGER?
The objective is for this merger to be as transparent and open with customers. Through the merger, we expect to bring expanded banking services and conveniences for consumers and small businesses while maintaining the same staff and the same location that you have relied upon for your banking needs.
Both banks will be communicating with you soon regarding this merger and providing you with Account Disclosures and more details about the merger. Updates will be posted on both Banks' websites as well.

WHAT HAPPENS TO MY DEPOSIT INSURANCE?

All deposits will be fully insured by Federal Deposit Insurance Corporation (FDIC) and Deposit Insurance Fund (DIF). The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. All deposits above this amount are insured by the DIF.

CAN I USE THE EAST CAMBRIDGE SAVINGS BANK BANKING CENTERS AFTER THE MERGER?
Yes, once the merger is completed, Patriot Community Bank customers will be able to use any East Cambridge Savings Bank Banking Center (see WW'N.ecsb.com for locations). East Cambridge Savings Bank customers can also use the Patriot Branch Banking Center for their transactions.

WHAT ABOUT EAST CAMBRIDGE SAVINGS BANK ATMs?
Once the merger is completed, Patriot Community Bank customers will be able to use any of the 16 East Cambridge Savings Bank ATMs and ITMs.   See www.ecsb.com for a listing of locations.


Patriot Community Bank announces plans to merge with East Cambridge Savings Bank

Feb 24, 2022

SCAM ALERT Government Agencies Won't Call, Text or Email you demanding money!

Mar 4, 2021

Scammers are posing as government agencies demanding immediate payment and threatening arrest. Please click below to go to our online security page and read the full article.

Online Security Page


New Hours Coming - January 7th, 2021

Nov 23, 2020

Thank you for the confidence that you have shown in Patriot Community Bank by giving us the opportunity to service your banking needs. We are constantly looking for ways to be more efficient so we can offer all of our valued customers competitively priced products and services.

As a valued customer, we want to inform you of an upcoming change. After considerable thought and reflection, management has made the decision to change its Thursday banking hours. Beginning on Thursday, January 7th, 2021 we will close our branch at 5 p.m.

For your convenience, the new hours of the Bank will be as follows:

Monday – Friday 8:00 a.m. – 5:00 p.m.

Saturday 8:30 a.m. – 12:00 p.m.

You will continue to receive the same high-quality personalized service from friendly employees at Patriot Community Bank. In addition to our 24 hour ATM, we have other services and resources available for you to Bank.

By Phone – You talk to us live during regular business hours or access your accounts from any touchtone phone. Hear account balances, recent transactions, and transfer funds between accounts. For access to Patriot Connect24 please call (866) 695-4390.

Online Banking – You can check your balances and transactions, transfer funds, pay your bills and make loan payments from your personal computer. Our address is www.patriotcb.com.

Thank you for banking with Patriot Community Bank. Your banking relationship is very important to us and we look forward to continuing to serve your financial needs.


Scams in between stimulus packages

Aug 11, 2020

Written by Jennifer Leach, Associate Director, Division of Consumer and Business Education, FTC

As we publish this post, a second stimulus package has not yet been finalized by Congress. While there’s a lot we don’t know, we DO know a few things about what scammers do when this kind of uncertainty is in the headlines.

If there’s another stimulus payment, you won’t have to pay to get it. 

Just like last time. Nobody will call to ask for your Social Security, bank account, or credit card number. Expect any stimulus program to look a lot like the first one: people who qualify would get money direct deposited, or you’d get a debit card or check mailed to the address you use for your taxes. The details will follow, if a bill gets signed into law. In the meantime, don’t pay to get any economic impact payment, and keep your info to yourself.

Don’t pay for job “opportunities.” Scammers know that lots of people need to find a job, and they’ll be happy to charge you for what winds up being nothing. Scammers also pay for online ads, promising you ways to earn money online. But do your research before you sign up — and certainly before you pay.

Never pay up front for mortgage help. In fact, it’s illegal for companies to charge you before they help you with your mortgage — but that doesn’t stop scammers from trying. If you find yourself behind on your mortgage, talk with your mortgage servicer right away to see what options you have. And whether you own or rent, it’s worth talking with a legal services organization if you feel like things are taking a hard turn south toward foreclosure or eviction.

They may be able to help you figure out a solution. If you spot one of these scams — or any scam at all, please tell the FTC at ftc.gov/complaint.


Welcome to our new website

Jun 2, 2020

WELCOME!
We are excited to present to you our new website!
We hope you like it.

Please let us know what you think!


SECURITY TIP - Before Discarding a Computer, Protect Yourself!

Jun 1, 2020

Before you discard a computer, tablet or smart phone - PROTECT YOUR DATA!

Your personal computer, tablet and smartphone have a lot of sensitive information on them. 

It could even be financial information like your account numbers or tax returns. Or it could be personal information like email messages or photos. Before you get rid of your old devices and computer, delete your personal information so it doesn’t end up in the hands of an identity thief. 

Here’s how.

Back Up Your Information

Before you get rid of your old computer, think about what important information you want to save. Do you have photos, videos, or important documents you want to save? How much storage space will you need to save that information?

Knowing what you want to save and how much space you’ll need will help you choose the best solution. Here are some options for saving or backing up your information.

Transfer your files to your new computer. If you bought a new computer, you can transfer information from your old computer to the new one. Most operating system manufacturers have support articles that tell you how to do this.

Save your files to an external storage device. A USB flash drive is an affordable option that offers a moderate amount of storage. Another option is an external hard drive. It might cost a little more than a USB drive, but it can give you more storage capacity and transfer data faster. You can decide which files or folders to back up, and you may be able to schedule automatic backups.

Save your files in the cloud. There are many cloud storage services that let you save files and data online. You may be familiar with some, like Google Drive, Evernote, Dropbox, or iCloud, but there are many others out there. Many of these services come with some free storage space and you can pay for more storage.

When you save your information in the cloud, you’re trusting someone else to keep that information safe. If you’re thinking about using cloud storage, find out what level of privacy or security the different services offer. Do they have privacy and security settings you can adjust?

Do they use encryption to protect your data? (Encryption is the process of scrambling the information to hide the contents of the file.) A service that encrypts your data when it’s transmitted to and from the service, or when they store it, provides a higher level of security than one that doesn’t.

Sign Out of Accounts, Disconnect Devices, and Erase Your Hard Drive

After you save your personal information, however you save it, sign out of all your online accounts from the computer you’re getting rid of. Un-pair your computer from Bluetooth devices like a mouse, keyboard, or wireless display.

Then, erase your computer’s hard drive. Look for a program or function on your computer that will let you erase all your files from the hard drive and reset it to factory settings. If it doesn’t have one, look for expert reviews online to see what programs are out there and which ones are compatible with the type of computer and hard drive you have.

Safely Dispose of Your Computer

You’ve saved your personal information and wiped your hard drive clean. Now you’re ready to get rid of that computer. Most computers contain hazardous materials like heavy metals that can contaminate the earth and don’t belong in a landfill. So what are your options? You can recycle or donate your computer.

Computer manufacturers, electronics stores, and other organizations have computer recycling or donation programs. Check out the Environmental Protection Agency's Electronics Donation and Recycling page to learn about recycling or donating your computer.

You saved your personal information. Wiped your hard drive clean. And safely disposed of the old computer. Now learn how to protect your new computer from hackers with these computer security tips.


A letter from our President & CEO

May 9, 2020

A Message to Our Depositors & Friends

We hope you are well. These are certainly worrisome times. The latest news on the pandemic seems to offer some glimmer of better times ahead. We also know it will be a long pull before we get back to anything close to normal.

We at the Bank want to assure you that we are here to serve your needs and that your deposits are safe. All of our staff members remain fully employed. Some are working from home while others are involved in the bank with the daily operations.

Four years ago an independent bank rating organization rated our Bank as one of the seven safest banks in the state. We believe we would have the same rating if a similar poll were released today. From the Bank's founding fourteen years ago all deposits, regardless of amount, have been fully insured. While this type of insurance coverage is more expensive to the Bank we know our depositors are reassured by this knowledge. We continue to offer rates on our CD's which are very competitive.

We are well capitalized. All of our earnings over the years have been put into our retained capital. The Bank has had the same Officers and Directors since the date the Bank was formed. None of the Directors and/or Stockholders has ever taken a dividend, or return on his or her investment in the Bank, preferring to have profits used to increase capital. The Bank does not have any investments in equities (stocks) which have shown such volatility in recent weeks.

While these times are certainly unique, our Officers and Directors have seen recessions, the results from 9/11, difficult times for banks, and other challenging events. We are all committed to be available to serve you, to assure the safety of your funds and to operate a first class bank that you are comfortable having as your Bank.

Please stay safe and we will all come out of this stronger than ever.

Very Truly Yours,


John O’Donnell
President & CEO