May 14, 1917:
The Bennington Cooperative Savings & Loan is founded with the mission to raise $10,000 to solve the problem of insufficient housing for workers in the town. The Bank operates out of a corner office on Main Street with a board comprised of local notables including William H. Wills, George M. Hawks, Hiram Hall, Edward A. Booth, and William P. Hogan
October 5, 1917—The first mortgage is issued to Clarence D.Wilson for the purchase of a Grove Street residence.
1979—Under the leadership of President Wes Mook, the bank builds a new facility and moves to North Street.
1983—The first branch office opens in Manchester.
1994—Jerry Keneally becomes President and recognizes that a new corporate structure is necessary for the bank to remain competitive into the 21st Century.
1999—Community Financial Mutual Holding Company is formed to serve as the parent organization for The Bank of Bennington.
Today—Under the leadership of President & CEO James D. Brown, the Bank’s total assets have grown to exceed $400 million and include offices in Bennington, Arlington, and Manchester as well commercial loan office in Rutland. The Board of Directors is still comprised of local residents: Florence M. Belnap, Charles C. Chamberlain, Mark A. Donavan, James R. Horst, Gerald M. Keneally, Michael W. Kilburn, Pamela A. Nemlich, Thomas T. Paquin, Justin P. Salem, Jason Morrissey and John Ahearn. The Board and management are charged with the responsibility to enhance the original philosophy of the bank: to provide high quality, competitive financial products and services to meet the needs of customers.
Culture & Philosophy
The Bank of Bennington is proud to be a full-service mutual community bank headquartered in Bennington with branches in Manchester, Bennington, and Arlington, Vermont. We are known for our customer service, financial strength, and community involvement. Bauer Financial, an independent bank-rating service, has awarded The Bank of Bennington their 5-star “superior” rating for more than twenty consecutive years. The bank employs nearly 60 individuals across four offices. The average employee has been with the bank for more than ten years.
Our success has always been rooted in our communities. We are privileged to have helped so many achieve their goals of home ownership, saving for college or retirement, or owning their own business.
As a testament to the bank’s culture and the strong men and women who founded the organization, not only has the bank’s size grown over the years, so too has its reputation as a local business that gives back to its community. The bank generously donates time and money to volunteer groups and community organizations in and around Bennington County.