A century and a half of service, support and strength.
On March 10, 1868, Webster Five opened for business with 20 deposits made at our first location on Main Street in Webster, MA. Two years and 710 depositors later, the bank moved to a larger space down the street where we could better serve our growing customer base.
As the community grew, so did the bank. And throughout the 20th century, Webster Five saw significant success, while also enduring the Great Depression. During the postwar housing boom, many area residents came to Webster Five for mortgages, loans and savings accounts. Local businesses also relied heavily on the bank during this time of commercial and community growth.
In 1954, our headquarters became the iconic red brick building at 290 Main Street. After we opened our new headquarters on Thompson Road in 1980, 290 Main Street became our downtown office and remained a nostalgic icon in Webster until closing its doors in 2009. To better serve the needs of surrounding communities, Webster Five opened branches in Oxford and Dudley during the 1960s and 1970s, and has since expanded to Auburn, Worcester and Shrewsbury.
Strengthening our position as a financial leader in the community, Webster Five was one of the first banks in Massachusetts to start offering NOW checking and a totally free checking account. As we embrace the changing needs of our customers, we have adopted online banking and enhanced technology to make banking easier and more convenient.
Today, supported by our solid history and secure financial base, Webster Five has a reputation for outstanding personal service, community support and fiscal strength. In addition, our expanded branch network has made it more convenient than ever for area residents and businesses to bank with us.
The bank launches the Customer Contact Center.
The Front Street, Worcester branch opens and moves from Commercial Street.
Webster Five redesigns website and includes online account opening.
The Chandler Street, Worcester branch opens and moves from Park Avenue.
The Shrewsbury branch opens at 261 Grafton Street.
The Commercial Street, Worcester branch opens.
Online banking is offered to Webster Five customers.
The first Worcester branch opens on Park Avenue.
Rick Lawton (former CEO) creates the Webster Five Foundation to provide donations and grants to local charities.
The Auburn branch is opened at 400 Southbridge Street.
Our first ATM is installed at our Webster branch.
The Webster branch opens at 136 Thompson Road.
The bank begins using computers to record bank transactions.
The Dudley branch opens at 208 West Main Street and introduces Webster Five’s first drive-through teller window.
The Oxford branch opens at 343 Main Street.
Webster Five adopts the services of the Depositors Insurance Fund (DIF) to secure the deposits of its customers during the Great Depression.
The Main Street branch moves across the street to the Eddy Block and remains there for the next 80 years.
Webster Five Cents Savings Bank is started by local businessmen and led by Senator Dr. F.D. Brown. The branch is located on the Spaulding Block of Main Street in Webster, Massachusetts. Its first loan is issued to George Braly for $800 at 7% interest.