– How has one Maine-based bank saved its customers $25 million?
In December 2006, Bangor Savings Bank announced that customers would no longer pay fees to withdraw funds from any ATM worldwide, including reimbursement for ATM withdrawal fees assessed by other banks when using their ATMs.
Bangor Savings Bank was the first Maine-based financial institution to provide this benefit to all customers, regardless of account type or frequency of transactions.
Since then, the Bank has reimbursed its customers over $25 million in ATM withdrawal fees and they’ve chosen to celebrate this landmark occasion by giving each of their nearly 1,000 employees $25 to do a simple act of kindness. Employees in Maine and New Hampshire can choose to purchase diapers for a non-profit daycare, buy school supplies for a local classroom, give an elderly neighbor a grocery store gift card, or any other way they choose to help others. Some may choose to pool their funds to make a more significant impact.
Bangor Savings Bank President and CEO Bob Montgomery-Rice commented, “Free ATMs have become a meaningful contributor to our You Matter More brand; and knowing that our entire team participates in creating our strong customer culture, the decision to involve all employees in our celebration was a natural one. We are proud to donate nearly $25,000 in support of whatever acts of kindness our employees choose and we can’t wait to see the impact of their generosity. You Matter More is about creating something unexpectedly better and we hope these small, random acts of kindness will do just that.”
With a clear focus on employee and customer experience, the Bank has been recognized as a Best Places to Work in Maine company for each of the last 10 years and ranked “Highest in Customer Satisfaction with Retail Banking in New England” by J.D. Power for three out of the last four years.
Bangor Savings Bank received the highest score in New England in the J.D. Power 2015, 2016, and 2018
U.S. Retail Banking Satisfaction Studies of customers’ satisfaction with their own retail bank. Visit