Cambridge Savings Bank launches all-digital subsidiary

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-centric approach and over $ 5 billion in assets, is pleased to announce the launch of Ivy Bank (Ivy), a digital-only division from CSB that offers users-friendly products with high interest rates, exceptional digital experiences and personalized service.

Backed by CSB, an FDIC-insured financial institution1 with an 187-year history of financial stability and success, Ivy offers competitive pricing for online savings accounts and certificates of deposit (CDs), as well as a human-centered customer support to help consumers achieve their goals. financial goals.

Ivy’s customers can manage accounts, deposit checks and transfer funds2 using its online and mobile banking platforms. Additionally, Ivy delivers a seamless customer experience by providing:

A focus on financial well-being and education: Ivy’s sophisticated money management tool allows clients to view all bank accounts in one place, including those held at other institutions Financials, View Expenses by Category, Build and Manage Budgets, Manage Debt, View Net Worth and More.

· Industry-leading account opening process: New customer account openings take an average of five minutes and provide customers with the ability to immediately access online and mobile banking services.

· Customer-centric experience: Concierge-style customer service through the bank’s support team provides support and responds to customer needs via chat, email and phone.

“Ivy was born out of our desire to meet clients where they are in this changing market environment and to provide us with the opportunity to deliver a relationship-centric digital bank with the backing of our historic financial institution,” said said Wayne Patenaude, President and CEO. , Cambridge Savings Bank. “At Cambridge Savings Bank, we are very proud to help our clients strengthen their financial well-being through our traditional distribution channels – and we are delighted to be able to extend this service model widely with the launch of our digital division, Ivy.

The industry’s highest rates and Ivy’s first-class digital experience provide consumers with a secure, frictionless digital banking that enables customers to improve their financial futures. The High Yield Savings Account (0.61% APY3) and 5 Year CD (1.00% APY4) both offer the best current rates in the market, in addition to several other competitive savings products. Its money management tool enables clients to gain powerful insight into their financial lives by offering clients the ability to view all of their accounts in a central dashboard.

“For us at Cambridge Savings Bank, it’s simple; our customers always come first, ”said Katie Catlender, Chief Client Officer, Cambridge Savings Bank. “To that end, Ivy’s offerings are designed to better educate consumers about their financial lives, promote inclusive banking, and provide a trusted digital platform with the security of a traditional bank.

Ivy’s Mobile Banking app is available for iOS and Android users, in addition to its online banking environment. For those interested in opening an Ivy account or learning more about its savings products and financial lifecycle dashboard, please visit ivybank.com or follow on Twitter, Facebook and Instagram.

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