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Belmont Savings Unveils Newton Education Rewards Checking

Posted on May 1st, 2015 at 9:47 AM

NEWTONBelmont Savings Bank today unveiled Newton Education Rewards Checking, an account designed to support Newton Schools Foundation (NSF) to spur innovation in the City’s public schools.

This new checking account was recently introduced during an event where Hal Tovin, COO of Belmont Savings Bank, presented a $5,000 check to the Newton Schools Foundation to support their Investing in Innovation campaign. This initial donation will help support innovation in Newton schools and was received by Liz Richardson and Julie Sall, co-­â€ presidents of Newton Schools Foundation as well as Rick Iacobucci, Executive Director of Newton Schools Foundation.

“Belmont Savings is proud of the relationships we have fostered in our communities and, as such, are launching this first of its kind account to specifically benefit Newton schools,” said Bob Mahoney, President and Chief Executive Officer of Belmont Savings Bank. “As one of the area’s most admired community banks, we are continuously exploring opportunities to make a meaningful difference locally. Newton Education Rewards Checking will create another way for the Bank and our customers to support the Newton community.”

For every new account that is opened, Belmont Savings Bank will donate $50 to Newton Schools Foundation and will give $50 to the account holder. Additionally, through this program, Belmont Savings will contribute 0.25 percent of the account’s average monthly balance to the Foundation.

“This innovative approach from a local business is a creative way to benefits students in the Newton school system,” said Rick Iacobucci. “Since the donation amounts generated from each account can quickly add up to something big for the schools, we are very pleased by Belmont Savings’ efforts to improve the community.”

Customers maintaining an active Newton Education Rewards Checking Account will have unlimited ATM usage, as Belmont Savings Bank will refund all ATM fees. Additionally, customers will have access to mobile banking with free mobile deposit and free online banking with bill pay.

“Newton Education Rewards Checking is a best-­in-­market checking account that improves the quality of Newton schools,” said Hal Tovin, Executive Vice President and Chief Operating Officer of Belmont Savings Bank. “We believe it is among our core responsibilities to engage positively with the local community, which is why we have designed this unique checking account.”

New and existing customers can begin the enrollment process by calling and speaking with a Belmont Savings banker at 617.484.6700 or by visiting the bank’s in-­store branch at 33 Austin Street in Newtonville, inside the Shaw's overlooking the Mass Pike.

The bank also sponsored NSF’s Celebration of Excellence event which was held on May 3.

About Belmont Savings Bank

Belmont Savings Bank is a $1.1 billion, full-­service Massachusetts savings bank dedicated  to quality, convenience, and personalized service. The Bank builds on a proud history of financial strength and a tradition of active involvement in the community. Belmont Savings Bank provides a full range of banking services for professional commercial real estate investors, developers and managers as well as individuals and local small business owners through two full-­â€service offices in Belmont, one full-­service office in Watertown, and three full-­â€service Shaw’s supermarket branches in Waltham, Newton and Cambridge. Find out more information by visiting: https://www.belmontsavings.com or Like Belmont Savings on Facebook. Member FDIC.  Member DIF.

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