Community-focused bank serving Northern New England since 1899, operating as a Certified B Corporation committed to stakeholder benefit over shareholder profit.
Editorially reviewed by Harvey Brooks
Mascoma Bank was established in 1899 to serve the financial needs of Northern New England communities. The bank has evolved its mission to explicitly prioritize community benefit, becoming a Certified B Corporation® that explicitly states it was "established to help our communities and customers, not to benefit investors." This foundational commitment to place-based banking distinguishes the institution in a consolidating banking industry.
The bank offers a comprehensive suite of retail and commercial banking services including personal deposit accounts, loans and mortgages, digital banking platforms, business deposit accounts, business loans, wealth management, and community development financing. According to 2024 data on their website, they issued 236 first mortgages to families and individuals. They also operate Mascoma Community Development, a division focused on community development investments that has been awarded $395 million in New Markets Tax Credits since 2014.
Mascoma's distinguishing characteristics include: B Corporation certification requiring legal commitment to stakeholder benefit; 50% female board representation; a philanthropic commitment allocating 10.06% of budgeted pre-tax income to giving; $11.4 million in nonprofit donations over five years; BankOn certification from the Cities for Financial Empowerment Fund ensuring safe and affordable account access; and an employee satisfaction metric showing 90% of staff feel their manager or someone at work cares about them as a person. The bank emphasizes fraud prevention and financial wellness education.
As a regional community bank, Mascoma operates within the constraints typical of smaller institutions—likely more limited product complexity and geographic reach than national banks, and potentially higher fees in some categories to offset operational costs. While their B Corporation status and community commitment are genuine and verifiable, customers should still evaluate specific account terms, rates, and loan products against competitors. The bank's primary strength lies in its documented institutional commitment to community benefit rather than in product innovation or competitive pricing.
Yes. Mascoma Bank is a registered company headquartered in Lebanon, NH, founded in 1899. They hold a rating with the Better Business Bureau.
Account opening typically takes 1-3 business days. Loan decisions vary by product.
CreditDoc Diagnosis
Mascoma Bank is best for Northern New England residents and businesses seeking community-oriented banking with transparent commitment to stakeholder benefit over profit maximization, verified through B Corporation certification and substantial philanthropic allocation. The primary caveat is that community mission, while documented and genuine, should not substitute for evaluating specific account rates, fees, and loan terms against regional and national competitors to ensure competitive value.
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