Newtown Savings bank joins coalition to help underserved population

Newtown Savings Bank is partnering with Bank On Connecticut and the Cities For Financial Empowerment (CFE) Fund in their statewide effort to promote safe and affordable Bank On certified accounts.

newtown savings bank in newton — Main office of Newtown Savings Bank.

Bank On Connecticut is one of close to 90 Bank On coalitions across the country working to connect the unbanked and underbanked population to the mainstream banking system by partnering with financial institutions to provide Bank On certified accounts.

The CFE”™s Bank On National Account Standards identify critical product features for safe and affordable banking accounts, making it easier for local coalitions across the country to connect people to accounts that meet their needs.

“We are proud to be one of the first banks in Connecticut to participate in this program and help increase the number of banked individuals in Connecticut,” said NSB President and CEO Ken Weinstein.

“Our New Start checking account has been certified to Bank On standards and offers a safe and affordable option to using high-cost alternative financial service providers.”

Weinstein has also been elected to serve as a vice chairman of America”™s Mutual Banks, a national association of prominent mutual banks dedicated to the preservation and advancement of mutuality for depository institutions.

Further, NSB has elected five new corporators: Isabel Almeida, president of the United Way of Western Connecticut; Michelle Brown, dean of the Macricostas School of Arts & Sciences at Western Connecticut State University; William Florin, founder and principal of Resu-mazing Services Co. and a vice president with Learning Dynamics; Ted Parker, co-president of Vibrant Health; and Lawrence M. Riefberg, managing partner of the Law Offices of Lawrence M. Riefberg, LLC and owner of Riefberg Real Estate & Relocation Services.

NSB is a community bank headquartered in Newtown, with over $1.3 billion in assets. With plans to open a new branch in Bridgeport this summer, the bank currently has 14 branches in Newtown, Bethel, Brookfield, Danbury, Monroe, Oxford, Shelton, Southbury, Trumbull and Woodbury, along with the New Haven Regional Lending Center in Hamden.