Chelsea Community Connection:
Chelsea Groton Bank announced it is ranked 149th out of 6,500 banks across the United States by DepositAccounts.com, which recognizes financial institutions who demonstrate exceptional fiduciary responsibility. Each year, DepositAccounts.com evaluates the financial health of every federally insured bank in the United States, more than 6,500 in total. Each institution is graded on a number of factors including: capitalization, deposit growth, and loan to reserve ratios in order to determine a health score. Chelsea Groton is the only Connecticut based bank named to this list.
"Being recognized as one of the healthiest banks in the country is a great distinction," said President and CEO Michael Rauh. "Our achievements stem from our very simple philosophy of "mutual success", it's about making good decisions based on what our customers desire, so we are constantly working to fulfill their needs and thus help them be successful. Everything we do, from creating new products and services, to providing new tools and technology, to delivering friendly, expert service, and supporting the local community revolves around this enduring business philosophy."