“When we look back to the beginning of Winter Hill Bank’s 109 year history in Somerville, we reflect on a relatively simple but always personal approach to banking. Today, as we usher in a new era of community banking, we still try to make banking easy but now we act with a new sense of purpose for our customers and to the community itself.” Those were the words of Sandra L. McGoldrick, President/CEO of Winter Hill Bank as the bank recently celebrated the opening of their new Loan Center at 337 Broadway, Somerville.
Both banking and the community have changed since the founding of Winter Hill Bank. In fact, there have been dramatic changes even when compared to just a decade ago. Somerville is in revival mode. Once a city that just happened to border Boston and Cambridge, Somerville has now created its own identity.
Ms. McGoldrick continued, “For a 4.3 square mile city with a population approximately 78,000, Somerville today rivals any urban area in New England for its growth and opportunity. That growth includes sprawling construction and development of business, shopping, and entertainment; as well as accessibility to healthcare, and the recent opening of the Assembly Orange Line subway. Opportunity presents itself by an impressive influx of new businesses and vibrant people who have moved to Somerville to be part of this resurgence. And of course, the families that have lived here for generations remain at the core of Somerville’s heritage. Our mission at Winter Hill Bank is to continue leading the way.”
History proves that a thriving community must have relevant local banking to help fuel growth in every sector. Residents need a highly personal approach to their banking and easy local access to borrowing for new homes or to remodel existing homes. Investors need local banks to provide a hands-on collaborative approach to real estate financing. The neighborhoods need local banks to recognize their obligation to community development. And everyone requires the latest in banking technology to make it all work.
According to Pauline M. D’Aurora, Executive Vice President/CLO, Winter Hill Bank has been purposely molded in such a way to be the local bank that exceeds expectations of a growing city and its people. “It was by design that Winter Hill Bank made such a significant difference in Somerville’s recent growth, and our new Loan Center is the latest example of how we continue to advance toward a high quality future for the community.
“We have become the local go-to bank for loans to real estate investors and developers as they participate in the strong demand for construction and property rehabilitation in Somerville, especially conversions of two and three family houses into condominiums. We are so successful in that niche because we quite simply make the process easy and we work at the speed they need to keep their projects moving.
“And of course, we are here to help residents realize their dream of homeownership which is the backbone of any community. Our online mortgage preapproval and submission of mortgage applications have become two of our most popular services; and Rate Watch, which is a new email feature, lets customers monitor mortgage rate changes.”
Somerville’s transformation has also brought with it the need for City government, the Chamber of Commerce, and the many non-profits to be creative in their approach to foster growth while maintaining affordable housing and the family dynamic that is so much a part of Somerville’s tradition. Among the many well wishers at the grand opening celebration were city officials, business and civic group leaders, local developers, and residents each representing the strong and across-the-board ties that Winter Hill Bank has with Somerville.
The new Loan Center that features photos and wall paintings depicting Somerville’s past and present is located at 337 Broadway, Somerville directly across the street from the bank’s corporate office. Lending officers and staff are available for both commercial and residential loan services and advice Monday through Friday, 8:30am until 4:00pm. No appointment is necessary. In addition, loan representatives are also available by appointment during non-business hours. The bank also has offices at 342 Broadway and 5 Cutter Avenue, Somerville plus online banking services at http://www.winterhillbank.com.