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News : Business Jun 17, 2019 - 12:58:30 AM


Chelsea Groton Bank Celebrates 165 Years of Serving the Community

By Chelsea Groton Bank





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GROTON, CT - On July 3, Chelsea Groton Bank will mark 165 years of serving the community. As has always been central to the Bank’s mission, all planned celebrations include opportunities for the Bank and its employees to connect with individuals and organizations in the community.

Planned celebrations

In the spring, the Bank participated in Pay It Forward Day. Giving teams made up of team members from all of our branches went to 13 local coffee shops, restaurants, and area businesses in our footprint to give out a total of 165 $10 gift cards to patrons of those establishments. The 165 recipients also received a card about Pay It Forward Day and how they could pass the kindness forward.

Five years ago, Chelsea Groton launched the Acts of Kindness initiative to commemorate the Bank's 160th anniversary. A $160 donation was made by the Bank on behalf of each employee to a cause or non-profit agency of each employee’s choice. Each year since, Chelsea Groton has given $100 on behalf of each employee, and this year, in honor of its 165th anniversary, $165 is being donated to the worthy cause of each employee’s choice.

On July 3, the Bank’s anniversary, which Chelsea Groton has dubbed “Feel Good About Your Bank Day”, each branch will hold a celebration including cake. And on July 4, dozens of Chelsea Groton team members, the CGB Beetle and Chelsea A. Corn mascot will participate in the Groton 4th of the July parade.

What's being celebrated

When he became the first President of Groton Savings Bank in 1854, Nathan G. Fish, a sail maker, merchant, and ship builder, set a course for success by supporting fellow business owners. Now 165 years later, that same commitment to local economic development has helped make what is now Chelsea Groton Bank, the largest mutual bank in Eastern Connecticut. By providing creative customized solutions, the Bank has turned dreams into realities for countless individuals and families, as well as businesses of all types, from manufacturing facilities like New England Propeller, to eateries like Sift Bake Shop to multi-generational family businesses like Densmore Oil Company.

In addition to providing financial support, the Bank hosts informational programs for individuals, as well as for business owners and professionals to provide them with the tools required to succeed.

Besides sophisticated financial products and industry know-how, Chelsea Groton has spent the last 165 years focused on ensuring the decisions they make positively impact the local community. In 2018 alone, Bank employees volunteered a total of 9,223 hours of their time and gave $47,853 of their own earnings to various fundraisers for local organizations.

“Our employees often go above and beyond to enrich the lives of so many, both professionally and personally,” explained Chelsea Groton Bank President and CEO Michael Rauh. “We are very proud of the contributions that each of our employees makes toward forging deep and meaningful alliances with businesses and the community. This is what truly sets Chelsea Groton apart.”

Chelsea Groton’s dedication to cultivating meaningful connections with local residents and businesses extends to public partnerships that create a stronger, more vibrant community. The Bank sponsors hundreds of events and organizations each year, and the Chelsea Groton Foundation, Inc. has awarded over $3.4 million in grants to non-profit organizations in Connecticut and Rhode Island since it was established in 1998.

“None of this could have been achieved without the extraordinary men and women who are my teammates here at Chelsea Groton,” adds Rauh. “I am eternally grateful for their hard work and dedication to our mission as a community bank to serve the needs of local individuals, families and businesses. We look forward to showcasing our continued commitment to the communities we serve as we continue to celebrate our 165th anniversary this year.”




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