Beating Bad Banks in Boston

Boston's Weekly Dig
By JA Lawrence

April 18, 2001

Last summer, Dig scribe Dan Pashman reported on the growing frustration many were having with the banking industry in and around Boston ("Fleece Boston," July 2000). While it was fairly easy to find disreputable swine like the folks at Fleet and Citizens, it proved to be quite the opposite finding a decent bank. But there was one…Wainwright Bank. It's best to let Dan's piece speak for itself. He spoke with Steven Young, Senior Vice President of the Consumer Banking Group at Wainwright Bank, who said, "These recent mergers are having an impact like previous mergers never had-people are angry," Need I say more? Yes, yes I should. So without further adieu…

Wainwright Bank & Trust Company
63 Franklin Street
Boston, MA 02110
617-478-4000, 1-888-428-BANK
www.wainwrightbank.com

What do you get when you're a socially progressive, community-oriented bank and yet you carry assets totaling a half a billion dollars? An exceptionally great banking experience at Wainwright Bank and Trust Company, one of the few banks I could ever recommend.

Right from the start, you know this is a different bank. Wainwright is the only bank to have a Senior Vice President of Community Development Lending. Her name is Pam Feingold and she's responsible for reaching out to the community to work with non-profit organizations (such as the Pine Street Inn) and partner with other community groups, which just happens to be one of the most successful sectors for Wainwright with a less than 1% default rate (140 million in loans so far). This is a bank?

Wainwright has done this since 1987, and along with great banking practices also has an impressive benefits package for its employees. It was one of the first banks back in 1992 to extend to its employees domestic partner benefits, something Jane Swift can't even do in 2001. Be it a commitment to affordable housing, women and gay rights issues or just simply offering some of the best customer service around, Wainwright delivers what few can: a platform that succeeds on the highest level yet cares deeply about the little guy.

Steven Young said it best, "Each customer has a unique set of financial needs. We try to meet each one." Check out their website for a complete overview of what makes this bank so truly unique and also consider the following quote from Robert Glassman, Wainwright co-chairman and co-founder, back in 1998: "The Bank has attempted to use both its cultural and financial capital to further a vision of a just, tolerant and sustainable society… Indeed none of us journeys alone."

Now that's my kind of bank.

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