2022 Impact Report
2022 Impact Report
From the President & CEO
Welcome to our Impact Report! We are thrilled to showcase the positive impact Thomaston Savings Bank, the Thomaston Savings Bank Foundation, and our employees have made in the community over the course of the past year.
Thomaston Savings Bank is committed to staying true to our values as we remain dedicated to our mutual corporate structure, providing in-person service at our branch locations and continuing our support to our neighbors throughout the community.
Our community initiatives and focus on financial wellness continue to grow. We recently launched Credit Sense, a free credit monitoring tool that provides ongoing analysis and resources to improve your score. The Bank’s Foundation successfully hosted its annual grant cycle in three phases, optimizing our reach across the towns we serve. We have partnered with Waterbury Promise, a scholarship program that provides relief to students looking to further their education at an accredited Connecticut based college or university.
Financial Wellness & Education
Thomaston Savings Bank is committed to providing our customers with the perfect tool kit to better themselves and achieve their financial goals.
Credit Sense
Thomaston Savings Bank introduced Credit Sense, a free credit monitoring tool available to customers through Online and Mobile Banking.
With Credit Sense you can:
View
your credit score and credit report
Monitor
key changes to your credit file with alerts
Receive
an ongoing analysis of the factors impacting your credit score
Access a library of financial wellness resources to improve your score &
more!
Click here to enroll in Credit Sense today!
Thomaston Savings Bank was thrilled to launch the Uncommon Account in 2021, the first Bank On Certified product offered by a Connecticut mutual community bank. This account is unique in that it only requires $10 to open, has no minimum balance requirement, no minimum balance or monthly maintenance fee, and most noteworthy, overdraft or non-sufficient fund fees will never be assessed. The goal of this product is to help serve those who remain outside of the mainstream banking system. The Bank is pleased to have opened 389 Uncommon Accounts in 2022. Click here to learn more.
Thomaston Savings Bank’s iFi University is a free online tool that offers financial resources including; articles, courses, infographics and more. This platform encourages users to better their financial wellness through a library of different informative topics. The Bank has united with local agency partners to encourage the adoption of this free resource to help those who are struggling with their financial wellness as well as utilizing it for educational outreach programs. Click here to learn more.
Financial Literacy Workshops
Thomaston Savings Bank employees have hosted a total of 33 financial literacy workshops throughout the community. These workshops include various topics including fraud prevention, senior wellness, basic financial literacy and more. Employees are eager to get involved and educate the community in hopes that our customers will feel capable of achieving their financial goals and dreams.
Cybersecurity Resources
Thomaston Savings Bank employees are committed to helping our customers in preventing fraud. We provide a variety of educational resources and materials through our social media posts and email campaigns. These resources highlight the different types of scams on the rise and the various ways that scammers will try to commit fraud.
Follow us on social media for financial wellness resources, community posts & more!
Achieving the Dream of Home Ownership
Thomaston Savings Bank continues to review and update its offerings to ensure it is best meeting the needs in our community. We were thrilled to announce the launch of a new Down Payment Assistance Program available for first-time homebuyers. This program paired with the First-Time Homebuyer Program allows for more financing flexibility to those looking to purchase their first home.
The First-Time Homebuyer program assists those who are buying homes in low- and moderate- income census tracts, or low- and moderate-income individuals purchasing homes in any of the Bank’s communities. Program highlights include 3% minimum down payment, no P.M.I (Private Mortgage Insurance), non-traditional or limited credit history and more. The Down Payment Assistance Program is available for mortgages up to $250,000. Click here to learn more.
125 First-Time Homebuyers achieved home ownership since the program’s inception.
Investing in the Future
Waterbury Promise Partner
Thomaston Savings Bank is proud to support students furthering themselves in education. We recently partnered with Waterbury Promise, donating $20,000 to support their mission. Waterbury Promise is a scholarship program committed to eliminating financial barriers and strengthening the college going culture in Waterbury Public Schools. This program provides relief to students in Waterbury who are looking to further their education at an accredited Connecticut based college or university.
Our Foundation
The Thomaston Savings Bank Foundation is a 501(c)3 nonprofit corporation founded in 1997. It is wholly funded by contributions made by the Bank, currently holding over $8.5 million in assets, and has awarded nearly $9 million in grant awards since its inception. We invite you to explore more about our Foundation’s initiatives and giving below.
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Total Foundation Assets
0
Total Foundation Giving
0
Total Bank & Foundation Giving
0
Foundation Giving Since Inception
0
Total Organizations Impacted
2022 Grant Cycle
To best serve the community the Thomaston Savings Bank Foundation hosts its grant cycle in three phases, considering applications from local nonprofit and government agencies in support of the following focus areas: arts & culture, community development, education and youth services, health and human services, and public safety.
Thomaston Savings Bank has been an incredible partner with the Kids of Summer Foundation. Our organization’s goal is to provide accommodating child care and encourage kids to get outside, get off their electronics and have fun. We are extremely grateful for the steadfast support from the Bank and the Foundation. We are also grateful for employees who have participated in our events, especially our Penguin Plunge.
– Jon Sheaffer, Founder & Co-Chair, The Kids of Summer Foundation
The Learning Center in Terryville is always so appreciative of the Thomaston Savings Bank Foundation. They have supported our endeavors throughout the years whether it was to get some IT equipment or upgrade our phone systems, and we’re very thankful for that.
– Lorainne Freidman, President of the Board, Terryville Learning Center
The Thomaston Savings Bank Foundation has helped us continue our mission to provide a high-quality private school education to our students, most of whom come from disadvantaged, low-income families. The Bank’s generosity helps our students “beat the odds” by providing CCS with resources it needs to ensure these children perform at a high level as they move on in their education. Historically, at least 94% of CCS graduates go on to complete high school on time as compared to 68% graduation rate for Waterbury Public School students. That’s thanks, in part, to Thomaston Savings Bank’s investment in our school and its mission.
– Michael Patrick, Director of Development, Children’s Community School
Phase I Hartford County
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Phase II Litchfield County
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Phase III New Haven County
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Fuel Assistance Grants
The Thomaston Savings Bank Foundation awarded $30,000 in fuel assistance grants throughout the community in 2022. These grants provide financial support to those unable to afford essential utilities throughout the year, especially in the winter months. The Bank’s Foundation has increased their funding this year to assist with inflationary pressure.
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Act to Impact Employee Giving Campaign
The Thomaston Savings Bank Foundation hosted its Act to Impact Employee Giving Campaign, an initiative that allows Bank employees to give back to the communities we serve. Departments and branches were split into teams each awarding a $1,500 grant to an area non-profit aiding the community in one of the following categories: basic human needs, crisis intervention, health and human services, food security and housing security.
View
the list of recipients here.
- Susan B. Anthony Project, Inc.
- St. Vincent DePaul Mission of Bristol
- Brian's Angels, Inc.
- Kelly's Kids, Inc.
- Disabled American Veterans Chapter 5 - Bristol
- Farmington Food Pantry
- Veteran's Strong Community Center
- Bronc Callahan Community Fund
- Neighborhood Housing Services of Waterbury
- Thomaston Social Services Fund
- Salvation Army Litchfield Hills Unit
- PAL Police Activity League
- St. Vincent DePaul Mission of Waterbury
- Carolyn's Place Pregnancy Care Center
- Safe Haven of Greater Waterbury
- Becky's Cupboard - Our Savior Lutheran Church
- Town of Plymouth Human Services Dept.
- Waterbury Youth Services
- Salvation Army Waterbury Corps
- Watertown Area Assoc. for Special Citizens
- Wolcott Senior Center
Caring for the environment is a shared public value. I am pleased to apply my expertise in helping Thomaston Savings Bank further their efforts in proper recycling, waste reduction and elimination, as well as improving sustainability on a larger scale. Their focus on a positive environmental impact will truly benefit our community at large.
– Michael Madow, President, Ramco Recovery, Inc.
Environment & Sustainability 
Your neighbors and local businesses have relied on Thomaston Savings Bank since 1874. Through eras of tumultuous bank mergers, conversions and takeovers happening all around us, Thomaston Savings Bank has thrived as an independent mutual savings bank by being financially responsible and adapting to the ever evolving needs our of our community. As we come up on our 150th anniversary, we recognize that our conservation strategy plays a vital role in our ongoing resiliency. We are building upon this strategy to ensure a fiscally and environmentally responsible method for reducing waste and look forward to sharing more detailed results of these efforts in the coming years. We understand the importance of taking care of our community and being environmentally conscious in our operations. Our newest board member, Michael Madow, is the President of Ramco Recovery Inc. a full service environmental service company in Thomaston founded in 1992. Michael joined our Board in 2022, bringing his expertise in environmental services and waste removal. We are proud to have a diverse set of voices on our Board who can speak to different industries.
Reducing waste one customer at a time.
With eStatements, eBills, Online Account Opening, Online Loan Applications, Online Banking and our Mobile Banking App, it’s never been easier for our customers to reduce their paper usage – we even waive the statement fee for eStatement customers where applicable.
Trees Saved:
Gallons of Water Conserved:
0
Pounds of Paper Recycled:
0
More Than Bankers
At Thomaston Savings Bank, our employees are more than bankers. They actively seek out opportunities to get involved in the community through various organizations and causes.
Bank employees, Officers and Board Members sit on 78 local
Boards and Committees.
- Black Rock Village
- Blakeslee Scholarship Committee
- Boys & Girls Club Family Center Bristol, Inc.
- Boys & Girls Club of Greater Waterbury
- Brian's Angels
- Bristol Boys & Girls Club
- Bristol Child Development Center
- Bristol Health
- Bristol Hospital Foundation
- Bristol Rotary Scholarship Fund, Inc.
- Business Women's Forum - Chamber
- Central CT Chamber of Commerce
- Children's Community School
- CMBA
- Connecticut Society of CPAs
- CT Bar Foundation
- CT Community Bankers Association
- Environmental Learning Centers of CT
- Farmington Public Schools Foundation
- Fine Arts Connection of Thomaston
- Friends of the Thomaston Greenway
- Friends of the Thomaston Opera House
- Gail Lascko Memorial Scholarship Committee
- Greater Waterbury Campership Fund
- Greater Waterbury Chamber of Commerce
- Habitat for Humanity
- Harwinton Agricultural Society
- Harwinton Ambulance Association
- Holy Cross High School
- Hop Brook Tennis Club
- Lake Plymouth Community Association
- Latinos United for Progress CT
- Literacy Volunteers of Greater Waterbury
- Main Street Community Foundation
- Mattatuck Museum
- MSCF WOW Event
- Neighborhood Housing Services of Waterbury
- New Foundations, Inc.
- Newington Friends of Football Booster Club
- Northfield Volunteer Fire Company Auxiliary
- Northwest Chamber of Commerce
- Northwest CT YMCA
- Pine Grove Association
- Plainville Community Food Pantry
- Plymouth Community Food Pantry
- Relay for Life of greater Waterbury
- Restoration Committee of the Opera House
- Rotary Club of Thomaston
- Safe Haven of Greater Waterbury
- Salvation Army
- Shepard Meadows Equestrian Center
- St. Mary's Hospital Foundation
- Terryville Congregational Church
- The Paige J. Batten Memorial Scholarship Fund, Inc.
- Thomaston 150th Celebration Committee
- Thomaston Board of Finance
- Thomaston COVID Emergency Committee
- Thomaston Democratic Town Committee
- Thomaston Naugatuck River Greenway
- Thomaston Opera House Committee
- Thomaston Public Library
- Thomaston Rotary
- Thomaston Rotary Scholarship Investment Committee
- Town of Litchfield Board of Ethics
- Tri-Town Youth Baseball & Softball
- UNICO
- United Way Campaign Leadership Committee
- United Way Leavenworth Society
- United Way of Greater Waterbury
- United Way of Northwest CT
- United Way of West Central CT
- United Way of West Central CT Allocations Co-Chair
- Waterbury Regional Chamber Leadership GW Steering Committee
- Watertown Youth Hockey
- Watertown Youth Lacrosse
- Wolcott Chamber of Commerce
- Wolcott Circle of Sports
- Women's Business Development Council
CAN DO CREW
The Thomaston Savings Bank Can Do Crew volunteers to benefit a wide variety of non-profit organizations throughout our community. From donating time, money and resources our employees are dedicated to giving back for a good cause. Employees participated in 32 projects over the course of the year.
Total Employee Volunteer Hours:
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Denim Days
The Bank’s Denim Days allow employees to wear jeans on Fridays throughout the month for a small donation to a preselected local non-profit that provides vital services to our community. If employees donate a total of $1,000 or more throughout the month, the Bank donates an additional $1,000 to the organization.
Total
0
Relay for Life
This year our team, Thomaston Savings for Lucy, attended Relay for Life of Greater Waterbury and raised a total of $5,332 for the American Cancer Society. Our team was dedicated to former employee Lucy Mancini, who had fought a courageous battle with cancer in 2021. Lucy was heavily involved in Relay for Life over the years and our employee run team wanted to honor her memory by continuing her passion to fight cancer.
United Way
Locations We Donate To:
Thomaston Savings Bank is proud to support local United Way organizations in their efforts to provide basic needs, education and financial stability to every person in the community.
Thomaston Savings Bank employees donated more than $45,000 to the United Way’s Annual Workplace Campaign. The Bank saw a 92% participation rate and an increase of over $4,000 in donations. Eighteen branches and departments had 100% participation, showing their commitment to the United Way’s pledge and supporting their mission.
Employees collectively donated 955.8 pounds of healthy food items to the United Way of Greater Waterbury’s Stock the Pantry Campaign. This campaign distributes food to ten local food pantries who will offer their services throughout the local community.
United Way of West Central
Employees participated in the United Way of West Central CT’s Day of Caring in May at Shepard Meadows Equestrian Center painting fences and gardening.
United Way of Greater Waterbury
Bank employees also volunteered at the United Way of Greater Waterbury’s Day of Caring cleaning up the garden at Catholic Charities Family Service Center.
Who We Are
Thomaston Savings Bank is thrilled to have such a dedicated workforce of employees. We strive to operate in accordance with our mission and our values as well as being representative of the communities we serve. This alignment allows us to ethically produce quality customer service across all branches and departments. Our executive team features a diverse set of voices, each contributing knowledge from their different specialties. The team is equally split between men and women and boasts strong female leadership who contribute to the success of women in business.
Executive Team
Did You Know?
Employees
speak 15 languages across 16 branches
& departments
13%
of employees are multilingual to better serve our community
Our Board
Thomaston Savings Bank’s Board of Directors consists of 10 community leaders who live and work within the local community. Our Board is committed to making local decisions to improve the lives of our neighbors. The Bank’s Board Members are dedicated to giving back whether that is by serving on an additional board or donating time back into the community.
Our Board Members lead by example dedicating countless hours to
professional and civic organizations for the good of our community.
See where they spend their time:
- Blakeslee Scholarship Committee
- Bristol Boys & Girls Club
- Bristol Works, Inc.
- Central CT Chambers of Commerce
- City of Bristol American Rescue Plan Task Force
- Connecticut Society of CPAs
- CT Bar Foundation
- CT Community Bankers Association
- Environmental Learning Centers of CT
- Finance Committee of Torrington Country Club
- Friends in Service to Humanity (FISH)
- Friends of the Thomaston Opera House
- Main Street Community Foundation
- Mattatuck Museum
- Rotary Club of Thomaston
- St. Maron’s Church
- The ARC of Litchfield County (LARC)
- The Salvation Army
- Thomaston Board of Finance
- Thomaston COVID Emergency Committee
- Thomaston Opera House Restoration Committee
- Thomaston Public Library
- Thomaston Rotary Scholarship Investment Committee
- United Way Campaign Leadership Committee
- United Way Leavenworth Society
- Waterbury Bar Association
Workplace Culture
Thomaston Savings Bank was ranked as one of Connecticut’s Top Workplace for the 8th consecutive year. We are proud to have created and maintained a robust workplace culture where our employees feel rewarded in their roles inside the office and outside in the community.
“As the chairperson for our culture committee, ACE,
I have been able to see firsthand how our company culture has continued
to advance and thrive. You can truly see how our culture resonates with
our employees as we celebrate major years of service milestones,
internal promotions, and most notably by our staff voting us one of CT’s
Top Workplaces!”
– Laura Serro, Applications Administrator,
ACE Chairperson
Employee Achievements
We are proud to celebrate employee achievements and encourage all employees to take advantage of these opportunities to benefit their professional and personal growth. We are thrilled to share that we’ve had a total of 52 internal promotions, 12 of which were for Officer Title promotions. This is a testament to our employees’ dedication to furthering their personal development throughout our company.
Employees completed over 19,000 training courses totaling almost 18,000 hours
Training
0
Hours
0
Tuition Reimbursement Program
Thomaston Savings Bank is proud to reinvest into our employees through our Tuition Reimbursement Program. This benefit is to encourage personal-development and assist employees in increasing effectiveness in their current position, preparing employees for possible advancement and more.
“I’m so thankful for the tuition reimbursement that the Bank offers us as employees. I have utilized the program for both my bachelors and master’s degrees over the course of my schooling. The tuition reimbursement program has not only been financially beneficial to me, but also has been part of the driving factor in me pursuing higher education. For me, pursuing higher education has and will continue to open doors for me and my growth here at Thomaston Savings Bank!”
– Amanda Hauser, Officer, Branch Manager, Thomaston Savings Bank
Altrin
Elmazi,
VP Information
Security Officer
Master’s Degree
in
Cybersecurity
Amanda
Hauser,
Officer, Branch
Manager
Master’s Degree
with
a concentration in
Project Management
Mersin
Ajazi,
Systems Support
Specialist
Bachelor’s Degree
in
Applied Computing
Jen
Wabiszczewicz,
Officer, Accounting
Manager
Associate of
Science
Degree in Accounting
Education And Professional Development Programs
-
Connecticut School of Finance & Management, Graduate
Jennifer Santopietro
Staff Accountant -
Connecticut School of Finance & Management, Graduate
Francesca Kracht
SVP, Chief Risk Officer -
New Leaders in Banking
Kelly Crone
VP, Residential Mortgage Officer -
New Leaders in Banking
Whitney Cadett
VP, Marketing Officer -
New England Leadership Development Program
Andrea Phillips
AVP/Loan Operations Officer -
New England Leadership Development Program
Gabriel Sousa
Office, Branch Manager, Cash Management Specialist -
Central Leadership Program
Joe Hoxha
Relationship Specialist -
Northwest Leadership Program
Kristina Roussel
Accounting Generalist -
Greater Waterbury Leadership Program
Kristen Myers
Commercial Credit Admin Supervisor
Thomaston Savings Bank employees continue to work hard in bettering themselves through furthering their education and professional development programs.
We are proud to celebrate their achievements and encourage all employees to take advantage of these opportunities to benefit their professional and personal growth.
Connecticut School of Finance & Management, Graduates
Jennifer
Santopietro,
Staff Accountant
Francesca
Kracht,
SVP, Chief Risk Officer
New Leaders in Banking
Kelly
Crone,
VP, Residential Mortgage Officer
Whitney
Cadett,
VP, Marketing Officer
New England Leadership Development Program
Andrea
Phillips,
AVP/Loan Operations Officer
Gabriel
Sousa,
Office, Branch Manager, Cash Management Specialist
Central Leadership Program
Joe Hoxha,
Relationship Specialist
Northwest Leadership Program
Kristina
Roussel,
Accounting Generalist
Greater Waterbury Leadership Program
Kristen
Myers,
Commercial Credit Admin Supervisor
