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Gift Card Scams
Scammers who ask for payment in gift cards often impersonate a well-known business or government agency, commonly with promises of tech or security support, which can be convincing. If you receive a call from someone claiming to be from Microsoft offering to help fix your infected computer for $200 in Target gift cards, that’s a...
Press Room
GSB Hires New Director of Human Resources
Gorham Savings Bank has named Brian Robinson as its new SVP, Director of Human Resources. Robinson was most recently Director of Talent Strategy and Deputy Title IX Coordinator at Bowdoin College. During his tenure, Robinson designed and implemented recruitment and retention programs with a focus on diversity, inclusion, and equity. He oversaw employee performance, conducted...
What's New
GSB Leases Space to Gorham Arts Alliance
Gorham Savings Bank is pleased to announce a unique local partnership with the Gorham Arts Alliance (GAA) to utilize the first floor of its Operations Center in Gorham for their school aged enrichment programs, homeschool and special needs art and dance programs, as well as adult education classes. The Arts Alliance was looking for a...
Security
How to Spot a Phishing Scam
Phishing is the fraudulent attempt to obtain sensitive, personal information such as usernames, passwords, credit card numbers or account information by posing as a trustworthy source, such as a reputable company. Phishing is commonly done through email, although social networking sites and chatting apps are becoming increasingly common routes as well. How to spot a...
Security
Know The Signs of Business Email Compromise
You receive an email from a customer asking you to complete a Request for Proposal (RFP), or view a secure document. The request came from someone you’ve dealt with before, but you weren’t expecting this request. The sender looks right, and your email filter didn’t block it, but who is in control of the sender’s...
Press Room
Collaboration with ReVision Energy to generate enough clean power for nearly all GSB locations
Gorham Savings Bank, a leading Southern Maine financial services institution, announced today it has broken ground on a 1.1-million-dollar solar array that when complete will offset virtually all of its electricity costs across its 12 branches and several office locations, including its 29,000 square foot Operations Center. The installation will generate 1 million kilowatt-hours (kWh)...
Press Room
Veteran Commercial Lender Kim Donnelly promoted to Director of Wealth and Business Services
Gorham Savings Bank, a leading Southern Maine financial services institution, has promoted Kim Donnelly to Executive Vice President, Director of Wealth and Business Services. Donnelly comes to the role with more than 25 years of banking experience working directly with customers. She’s led the Business Banking division since joining GSB in 2011, shepherding its growth...
What's New
2021 Child Tax Credit Payments Started July 15, 2021
The 2021 Child Tax Credit in President Biden’s American Rescue Plan provides the largest Child Tax Credit ever and historic relief to families struggling financially amidst the pandemic. If you qualify for the 2021 child tax credit, you may have already received your first advance monthly payment on or around July 15, 2021. Before you...
Press Room
Letter to the editor: New child care law an investment in Maine people, economy
This letter originally appeared in The Portland Press Herald. Thank you to Gov. Mills, Senate President Troy Jackson and others, including the editorial board of this paper, for supporting L.D. 1712. Now law, it will help more Maine families access affordable, high-quality child care programs. It is a critical investment in Maine people and Maine’s economy. As your...
What's New
Credit Insights
Credit Insights is now available in the GSB Mobile App! Access your credit score and credit report, and can gain a better understanding of the key factors that impact your score. The service is free and allows you to: View your full credit report See what affects your credit score Get personalized tips for credit...
Security
How To Increase Your Business Cybersecurity
Nearly half of all cyberattacks target small businesses. Yet only 40% of small businesses have a cybersecurity policy. Security breaches surged in the pandemic as more employees worked remotely, making data even more accessible to cybercriminals. As businesses work to recover from the COVID-19 pandemic, their vulnerability to fraud is at an all-time high. Just...
Press Room
HighByte Named 2021 LaunchPad Winner
The 2021 grand prize went to Portland-based DataOps software company HighByte. GSB gives $70,000 in no-strings attached grants to small businesses. HighByte took the top prize at Gorham Savings Bank’s LaunchPad competition and its corresponding $50,000 grant. The company was chosen among five finalists who pitched Tuesday afternoon to an independent panel of judges as...
Security
Beware Of Text Messages Claiming That Your Debit Card Has Been Locked
Phishing text messages are becoming an increasingly common method for fraudsters to gain access to confidential information. Be on the lookout for text messages that claim your debit card is locked or has been blocked due to a recent transaction and ask you to respond if the activity is authorized or not, as shown in...
What's New
SBA PPP Funding Exhausted
After more than a year of operation, funding for the Paycheck Protection Program has been exhausted. The SBA will continue funding outstanding approved PPP applications. As of May 5, 2021, GSB will not be accepting any new applications. _______________ On December 27, 2020, legislation was signed that provides funding for a second round of SBA...
Press Room
GSB’s 2021 LaunchPad Finalists Announced
From a pool of nearly 150 applicants, five rose to the top and will move on as finalists to the next round of our eighth annual LaunchPad small business competition: a livestream, in-studio pitch competition taking place Tuesday, June 1 at 3:30pm. Five additional businesses have been chosen to submit a 60-second pitch video for...
Press Room
Brian O’Coin Joins GSB Commercial Banking Team
We are pleased to announce Brian O’Coin has joined our Commercial Banking team as vice president, commercial loan officer. O’Coin comes to Gorham Savings Bank with more than 16 years of expertise in commercial lending, having worked with customers across Southern Maine and New Hampshire ranging from small, local businesses to regional middle-market companies. Most...
What's New
A Third Round of Stimulus Checks
With Congress recently approving a $1.9 trillion COVID-19 relief bill, a third round of economic impact payments (stimulus checks) is expected starting March 17th. The bill provides $1,400 to individuals making up to $75,000 per year and $2,800 to couples making up to $150,000, with payments phased out for higher incomes. An additional $1,400 payment...
Press Room
Letter to the editor: Lack of access to quality early learning economic issue for Maine
This letter originally appeared in The Portland Press Herald. Your recent news article (Jan. 27) and editorial (Jan. 29) on a report titled “Early Childhood Programs’ Scarcity Undermines Maine’s Rural Communities” caught my attention. From a business perspective, the lack of access to quality early learning and child care programs faced by rural children and...
Press Room
LaunchPad 2021 Application Opens March 1
Gorham Savings Bank will begin accepting applications on March 1 for its eighth annual LaunchPad small business competition, the premier event of its type in Maine, which will be a livestream event this year. In the competition, promising small businesses will compete for a $50,000 grant from the Bank. “We’re truly excited to bring LaunchPad...
Security
Protect Yourself From Tax Fraud
As tax season ramps up, so does tax-related fraud. Know what to look for, and take steps to protect sensitive information. SPOTTING TAX FRAUD Phone Calls: The IRS will never notify you of a tax issue by phone until it has first sent written notification, usually multiple times. If a caller claims to be from...
What's New
Touch-Free Payments With Contactless Cards
Speed, simplicity, and security wherever the contactless symbol is displayed Gorham Savings Bank is now issuing contactless debit cards. When you receive your new GSB card, just look for the contactless symbol when paying for items, tap your card against the symbol on the payment terminal until the light turns green, and listen for a...
Press Room
New program will provide aging Mainers with at-home access to health and wellness services
The Westbrook Housing Authority (WHA) and the University of New England Center for Excellence in Aging & Health (UNE CEAH) have signed a memorandum of understanding to establish a three-year, multi-phase student placement and research partnership serving seniors aging in place in affordable housing, made possible by a $20,000 grant generously provided by Gorham Savings...
General
A Second Round of Stimulus Checks
With Congress recently approving a $900 billion COVID-19 relief bill, a second round of economic impact payments (stimulus checks) is expected starting the week of January 4th. The bill provides $600 to individuals making up to $75,000 per year and $1,200 to couples making up to $150,000, with payments phased out for higher incomes. An...
Press Room
Maine District Office Presents GSB With SBA 504 3rd Party Lender of the Year Award
Gorham Savings Bank was awarded the U.S. Small Business Administration’s 504 3rd Party Lender of the Year in Maine for completing 10 504 loans totaling more than $2.2 million which, when combined with SBA’s portion of the loans, represented almost $4.7 million in financing and more than 60 jobs created or retained. SBA 504 loans...
Security
Should A Company Pay A Ransom?
Ransomware attackers specialize in penetrating corporate networks, and sometimes specifically target a business’ backup systems, making it difficult – or impossible – to remediate the harm of an attack. The frequency and size of ransomware incidents have increased significantly in recent years. No company is safe from being targeted. How You Can Help Protect Your Business...
Security
Approve ACH or Wire Payments On-The-Go
With on-the-go approval, it’s more convenient than ever to utilize dual control and increase your business account security. Authorized users can quickly and easily approve or release payments from anywhere with the GSB mobile app. Requiring a second approver for ACH originations and wire transfers will give you peace of mind and help protect your...
Security
SBA PPP Borrower Data Publicly Released
Third-party businesses are using information from a court-ordered public release of Small Business Administration (SBA) Paycheck Protection Program (PPP) borrowers to deceptively market themselves. Their communications may reference Gorham Savings Bank and may even imply that we have an affiliation. Please be aware that we will communicate directly with you about your PPP loan and...
Press Room
Make Change Helps Support Maine’s Minority-Owned Businesses
Gorham Savings Bank announced the launch of an innovative, mission-based checking account and debit card called Make ChangeSM, designed to support Maine’s minority-owned businesses. How Make ChangeSM Works For every qualified purchase a Gorham Savings Bank customer makes using their Make ChangeSM debit card, the Bank will donate $.10 to an earmarked fund. Those funds will...
General
Tourism, Hospitality & Retail Recovery Grant Application Opens 12/3
On November 30, 2020, Governor Mills announced a $40 million economic recovery program to support Maine’s tourism, hospitality, and retail small businesses. The Tourism, Hospitality & Retail Recovery Grant Program is focused specifically on supporting Maine’s service sector small businesses, such as restaurants, bars, tasting rooms, lodging and retail shops, which have been hard hit...
Press Room
Virtual GSB Maine Marathon Raises More Than $250,000
The Marr Foundation raised $212,000 alone, exceeding its goal of $200,000 Despite being run virtually over 2-weeks this year, the 2020 Gorham Savings Bank Maine Marathon, Half Marathon, and Relay, exceeded fundraising expectations, finishing strong with just over $254,000. Nearly 50 percent of race participants made a donation or donated their registration fee to charity – a 40...