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Everything You Need to Know about Escrow A portion of every regular monthly mortgage payment you make is set aside and placed into an escrow account. From this account, your insurance and real estate tax bills are paid. We receive the insurance/tax bills directly and remit payment as needed.
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Chelsea Groton Bank is providing FREE secure document shredding services this fall, to protect confidential information and avoid identity theft. “The number of people who are victimized because sensitive data is stolen continues to rise,” said Lori Dufficy, EVP, Chief Experience & Engagement Officer at Chelsea Groton Bank. “Although criminals are increasingly using cyber-attacks to...
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Attention Chelsea Groton Loan Customers: We recently sent out our annual tax and insurance escrow statements. Please be sure to review this statement carefully as your loan payment may have to be adjusted to compensate for any change in escrow.
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During the height of the pandemic, mail theft saw an 87% increase between the years of 2019 and 2022. Since then, the number of investigations into serious crimes has doubled, from 609 cases of mail carrier robbery to almost 1,200. The reason? They are on the hunt for your checks, credit cards, and information for identity...
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Financial literacy and career readiness are more critical than ever! The Future Bankers of America program in Connecticut is an opportunity for high school students to get a jump start on a career in finance. This innovative program, run by the Center for Financial Training (CFT) and the Federal Deposit Insurance Corporation (FDIC) partners with...
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During the school year, students are taught about math, literature, science, and history. But what about finances? Don’t fret, Chelsea Groton has teens and young adults covered with our Chelsea U Student Banking Program. “When opening their first Chelsea U Student Banking account, our student customers are finding financial independence,” said Marjarie Perrone, Customer...
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Chelsea Groton is proud to introduce a Retail Branch Management Training Program, a 12-month curated program that includes hands-on training and experience with a defined professional development plan. “We understand everyone learns differently so this program includes both instructor-led and self-paced learning,” explained Rebecca Magner, VP, Learning & Development Manager at Chelsea Groton Bank. “The...
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Finding a college, moving into a dorm, making new friends, and diving into student life is enough to worry about. Life as a college student can be an exciting time but money is typically tight, and fraudsters know this! Fast cash promises, financial payment pressures, and jobs scams are just a few of the forms...
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Dana Chapel of Niantic, CT, has been named a Retail Lending Originator at Chelsea Groton Bank. In this position, Dana will work with customers throughout Connecticut and Rhode Island who are in need of a variety of lending solutions, from traditional mortgages to first-time homebuyer and affordable lending programs, to specialty financing and home equity...
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Chelsea Groton Bank is once again a proud recipient of BauerFinancial, Inc.’s highest 5-Star Superior rating for financial strength and stability. This marks the 121st consecutive quarter that Chelsea Groton Bank has earned this distinction, which gives it the added prestige of being a “Best of Bauer Bank”. Only banks that have earned and maintained...
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