About
Eastern Bank is a full-service commercial bank based in Boston, Massachusetts. The bank offers a wide range of financial products and services to individuals, small businesses, and large corporations. Their products and services include checking and savings accounts, loans, mortgages, credit cards, insurance, and investment services.
Eastern Bank was founded in 1818, making it the oldest and largest mutual bank in the United States. The financial institution has over 110 branches located throughout Massachusetts and New Hampshire and has more than $14 billion in assets.
Eastern Bank is also known for its commitment to social responsibility and community involvement. The bank has a long history of supporting local communities and nonprofit organizations, and it has been recognized for its efforts in these areas.
Overall, Eastern Bank is a well-established financial institution with a strong presence in the Boston area and a commitment to supporting its customers and local communities.
Key Features
Here are some key features of Eastern Bank:
- Full-Service Commercial Bank. The bank offers a wide range of financial products and services to individuals, small businesses, and large corporations.
- Long History. The bank was founded in 1818, making it the oldest and largest mutual bank in the United States.
- Strong Local Presence. With over 110 branches located throughout Massachusetts and New Hampshire, Eastern Bank has a strong local presence in the Boston area.
- Social Responsibility. The financial institution is committed to social responsibility and community involvement, and has a long history of supporting local communities and nonprofit organizations.
- Product Offerings. The bank offers checking and savings accounts, loans, mortgages, debit and credit cards, insurance, and investment services.
- Personalized Service. Eastern Bank offers personalized service to its customers, and strives to provide a positive customer experience.
- Mobile and Online Banking. The bank provides mobile and online banking services, allowing customers to manage their accounts and transactions from anywhere.
- Financial Strength. Eastern Bank has more than $14 billion in assets, demonstrating its financial strength and stability.
Requirements
The requirements to open an account at Eastern Bank may vary depending on the type of account you want to open. Here are some general requirements:
- Identification. You will need to provide a government-issued identification such as a driver's license, passport, or state ID.
- Social Security Number. You will need to present a valid Social Security number or Tax ID number.
- Minimum Deposit. Some accounts may require a minimum deposit to open, so be prepared to provide that.
- Personal Information. You will need to provide your personal information such as your full name, address, phone number, and email address.
- Business Information. If you are opening a business account, you will need to provide additional documentation such as a business license, Articles of Incorporation, or Partnership Agreement.
- Additional Documentation. Depending on the type of account you are opening, you may need to provide additional documentation such as proof of address, income verification, or other financial documents.
It's always best to contact Eastern Bank or visit their website for specific details and requirements for opening the account you are interested in.
Access on the Go
Eastern Bank offers mobile banking options that allow customers to access their accounts on the go. Here are some ways to access the financial institution on the go:
- Mobile App. It is available for both iOS and Android devices. You can download the app for free from the App Store or Google Play. With the mobile app, you can check your account balances, view transactions, transfer funds, pay bills, deposit checks, and locate branches and ATMs.
- Mobile Website. You can also access Eastern Bank's mobile website by visiting their website on your mobile device's web browser. The mobile website is optimized for mobile devices and offers many of the same features as the mobile app.
- Text Banking. It allows you to receive account alerts and view account balances and transactions via text message.
- Phone Banking. You can access your account information and conduct transactions by phone using Eastern Bank's phone banking system.
These mobile banking options make it easy and convenient for customers to manage their accounts on the go, no matter where they are.
Products and Services
Eastern Bank offers a wide range of financial products and services to individuals, small businesses, and large corporations. Here are some of the products and services offered by Eastern Bank:
- Checking Accounts. Customers are offered a variety of checking accounts to meet the needs of different customers, including free checking, interest-bearing checking, and student checking.
- Savings Accounts. The bank has savings accounts with competitive interest rates, including statement savings accounts, money market accounts, and CD accounts.
- Loans. Eastern Bank offers a variety of loan products, including personal loans, home equity loans, student loans, auto loans, and small business loans.
- Mortgages. The financial institution provides a range of mortgage options, including fixed-rate mortgages, adjustable-rate mortgages, and home equity lines of credit.
- Debit and Credit Cards. Eastern Bank offers credit cards with a range of features, including cashback rewards, travel rewards, purchase protection, and low interest rates.
- Insurance. The bank has a range of insurance products, including auto insurance, home insurance, life insurance, and business insurance.
- Investment Services. Eastern Bank provides investment services to help customers manage their wealth, including retirement planning, wealth management, and financial planning.
- Business Banking. A range of business banking products and services includes checking accounts, savings accounts, loans, lines of credit, and merchant services.
Overall, Eastern Bank offers a wide range of products and services to meet the needs of its customers.
Which associations does Eastern Bank belong to?
Eastern Bank is a member of several associations and organizations that represent the banking industry and promote the interests of financial institutions. Here are some of them:
- American Bankers Association (ABA). This is a trade association for the banking industry that represents banks of all sizes across the United States.
- Massachusetts Bankers Association (MBA). It is a trade association for banks in Massachusetts that provides advocacy, education, and networking opportunities for its membersю
- New Hampshire Bankers Association (NHBA). It is a trade association for banks in New Hampshire that provides advocacy, education, and networking opportunities for its members.
- Greater Boston Chamber of Commerce. This is a business association that represents businesses and organizations in the Greater Boston area.
- Boston Private Industry Council. It is a nonprofit organization that connects students with career opportunities and provides workforce development services in Boston. Eastern Bank is a partner of the Boston Private Industry Council.
These associations and organizations help Eastern Bank stay up to date with the latest industry trends and regulations, and provide opportunities for networking and community involvement.
