Kevin C. Merchant, president and CEO of Jewett City Savings Bank, announced today that the Bank plans to open a new full-service branch office in Preston.

Located at 353 Route 165 in Flemings Center, the new office will feature a drive-up window and a 24-hour drive-up ATM for customer convenience. It will be the first banking office in the Town of Preston.

“We are pleased to be able to offer our trademark brand of community banking to the residents and businesses of Preston,” said Merchant.

An October opening is planned. The Preston location will be Jewett City Savings Bank’s 5th full-service office location. Other offices are located in Jewett City, Brooklyn, Dayville and Central Village.
 

Jewett City Savings Bank’s celebration at Killingly’s Tercentennial Parade in May raised $507 for Owen Bell Park.

The Bank passed out wooden coins at the Parade, and pledged a $1 donation to the Park for each coin returned to the Bank’s Dayville office within the following two weeks.

In addition, anyone who returned one of the coins received a free Jewett City Savings Bank piggy
bank and had the chance to enter a special prize drawing to win a Bag of Balls — soccer, baseball, softball and basketball!

The lucky prize drawing winner was three-year-old Andrew Haller of Dayville.

According to Kevin C. Merchant, president and CEO of Jewett City Savings Bank, the special promotion was part of the Bank’s support of Killingly’s Tercentennial Year as a Gold Sponsor.

For the 63rd consecutive quarter, Jewett City Savings Bank has earned a 5-Star Superior rating for financial strength from BauerFinancial, Inc., an independent national bank research firm.

BauerFinancial conducts a financial analysis of U.S. banks according to comprehensive formulas used to evaluate the institution’s financial performance. The banks are then assigned a star rating from zero to five, with five stars being the strongest.

Bank president Kevin C. Merchant stated that this most recent award places Jewett City Savings Bank in an elite group of banks considered “Exceptional Performance Banks” by the rating firm.

Jewett City Savings Bank is a mutual savings bank operating full-service offices in Jewett City, Brooklyn, Central Village, and Dayville. Established in 1873, the Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

Based in Coral Gables, Florida, BauerFinancial, Inc. is the nation’s leading independent bank rating firm. It has been reporting on and analyzing the performance of US banks, thrifts and credit unions since 1983.

Jewett City Savings Bank has donated a battery-powered automated external defibrillator to the Griswold Public Schools.

According to Kevin C. Merchant, president and CEO, the donation was made to support the school system’s fundraising campaign to acquire a minimum of four of the life-saving devices, to ensure their availability for the school population.

The need for the defibrillators was brought to light by the tragic death of Larry Pontbriant, a Norwich Free Academy student, due to sudden cardiac arrest.
 
“We encourage everyone to join in this defibrillator fundraising effort to help save a life by donating to this worthy cause,” said Merchant.

The portable defibrillators cost approximately $2,000 each, and donations toward the purchase of additional units for the schools can be made by contacting Athletic Director Glenn LaBossiere at 376-7636.

Jewett City Savings Bank has a long tradition of involvement with the local schools, including providing academic and community service scholarships and class marshal awards and supporting activities such as Project Safe Graduation, Drama Department productions and the Booster Club.

Pictured from left to right: Yvonne Palasky, Chair, Griswold High School Parent Advisory Council; Glenn LaBossiere, Athletic Director, Griswold High School and AED fundraiser co-coordinator; Kevin Merchant, President and CEO, Jewett City Savings Bank; Dr. Mark Frizzell, Principal, Griswold High School; and Sharon DeRico, Griswold High School Health Aide and AED fundraiser co-coordinator.

Safeguard against fraud and identity theft

Jewett City Savings Bank has joined the Go Direct campaign sponsored by the U.S. Department of the Treasury and the Federal Reserve Banks, to help senior citizens protect their monthly Social Security payments from financial crime.

Go Direct urges seniors, and others receiving federal benefit payments, to switch from paper checks to direct deposit.

“Direct deposit is safer, easier and more convenient than paper checks,” says Kevin Merchant, president and CEO of Jewett City Savings Bank, “and it gives seniors more control over their money.”

Merchant added that direct deposit eliminates the risk of forged checks and helps safeguard against identity theft.

“Last year alone, almost 57,000 checks issued by the U.S. Department of the Treasury were forged, totaling more than $54 million,” he said. “Although paper checks make up only 20 percent of the total number of Social Security payments, they account for more than 90 percent of reported problems.”

The Go Direct campaign makes switching to direct deposit easy with a toll-free enrollment number, (800) 333-1795 and web site, www.GoDirect.org. Switching to direct deposit is free and takes only a few minutes.

The bank’s customer service representatives will be happy to answer individual questions about direct deposit of Social Security and other payments into a Jewett City Savings Bank account, Merchant said.

Residents dreading this winter’s high cost of home heating fuel can find relief at Jewett City Savings Bank. 

For a limited time only, Jewett City Savings Bank is offering consumers the opportunity to earn a higher return on money they put aside to pay for energy costs this winter. The special Energy Savings Account will pay a guaranteed rate through April 18, 2008, on accounts originally opened by September 30, 2007, but, now extended to October 13, 2007.

 “This is a wonderful way to help offset the high cost of fuel,” said Kevin C. Merchant, president and CEO of Jewett City Savings Bank, “and saving systematically, in advance, also makes good sense.”

 A minimum of $100 is required to open an Energy Savings Account, and funds can be added at any time, in any amount. Customers can make up to six transfers (including writing three checks) from the account each month. The account is available at all offices of Jewett City Savings Bank.

For the 60^th consecutive quarter, Jewett City Savings Bank has earned a 5-Star Superior rating for financial strength from BauerFinancial, Inc., an independent national bank research firm.

BauerFinancial conducts a financial analysis of U.S. banks according to comprehensive formulas used to evaluate the institution’s financial performance. The banks are then assigned a star rating from zero to five, with five stars being the strongest.

Bank president Kevin C. Merchant stated that this most recent award places Jewett City Savings Bank in an elite group of banks considered “Exceptional Performance Banks” by the rating firm.

Jewett City Savings Bank is a mutual savings bank operating full-service offices in Jewett City, Brooklyn, Central Village, and Dayville. Established in 1873, the Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

Based in Coral Gables, Florida, BauerFinancial, Inc. is the nation’s leading independent bank rating firm. It has been reporting on and analyzing the performance of US banks, thrifts and credit unions since 1983.