FDIC-insured bank with 25 locations in Maine and New Hampshire offering mortgages, checking/savings accounts, business loans, and wealth management services.
Data compiled from public sources · Rating from CreditDoc methodology
Norway Savings Bank is a regional financial institution headquartered in Maine and New Hampshire with 25 physical branch locations across both states. The bank has established itself as a community-focused lender emphasizing personal service and flexibility across multiple product lines. Founded on principles of supporting customers through major life events, Norway Savings positions itself as a relationship-driven alternative to larger national banks.
The bank offers a comprehensive suite of consumer and business banking services including checking and savings accounts, mortgages (through their MortgageGO platform), home equity lines of credit (HELOCs), personal loans, business loans, and investment/trust services through their Asset Management Group. 50% APR with savings up to $650 on appraisal and title fees. Customers can access services through online banking, mobile app (including mobile check deposit), 24/7 ATMs, phone (1-888-725-2207), email, and in-person branch visits.
The bank maintains routing number 211274515. Norway Savings distinguishes itself through localized service with emphasis on personalized support, FDIC insurance backing all deposits, flexible mortgage and HELOC products, and a stated commitment to employee growth and community involvement. Their marketing emphasizes simplicity in application processes and adaptability to customer needs across various life stages.
The bank offers educational resources on mortgages, home equity, business lending, estate planning, and trusts. As a regional bank, Norway Savings serves primarily Maine and New Hampshire customers and lacks the branch network or digital convenience features of national banks. Their website highlights employee culture and community values but provides limited transparency on specific loan terms, approval rates, or comparative pricing.
The wealth management services (Asset Management Group) explicitly carry disclaimers of no FDIC insurance and potential loss of value, distinguishing them from deposit products.
Norway Savings Bank processed 788 mortgage applications in 2023, approving 67.8% of applicants across 3 states.
788
Applications
67.8%
Approval Rate
$305K
Avg Loan
3
States Served
Based on 788 applications. Income in thousands (reported by applicant).
Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.
Yes. Norway Savings Bank is a registered company, headquartered in Norway, ME, founded in 1866.
Account opening typically takes 1-3 business days. Loan decisions vary by product.
CreditDoc Diagnosis
Norway Savings Bank is best for Maine and New Hampshire residents seeking traditional full-service banking with personal relationships and community focus. The primary caveat is geographic limitation—customers outside Maine and New Hampshire cannot access this bank's services, and even within their markets, the limited digital innovation and transparency may disadvantage customers comparing rates or seeking faster online-only solutions.
Maine-based community bank and certified B Corporation offering checking, savings, loans, and mortgages with a focus on local lending and social responsibility.
Best for: Maine residents seeking traditional banking with community reinvestment focus, Consumers prioritizing B Corporation values and ethical banking practices
Mutual savings bank serving Aroostook County since 1936, offering checking, savings, mortgages, and consumer loans with over $200 million in assets.
Best for: Aroostook County residents seeking a local mortgage lender with community ties and in-house loan decisions, Families and small business owners prioritizing personalized service and local community reinvestment
Auburn Savings Bank, FSB is a community bank serving Lewiston-Auburn since 1887, offering personal and business banking with local decision-making and relationship-focused service.
Best for: Small business owners and entrepreneurs in Lewiston-Auburn seeking personalized lending and local relationships, Homebuyers and mortgage refinancers in the region wanting accessible loan officers and flexible terms
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