For more than 150 years, The Milford Bank has been a staple for citizens and businesses alike, offering advice, support, and a deep-rooted commitment to the local community. Providing more than just financial services, it is a long-lasting institution that has weathered world wars and economic recessions while keeping its priorities constant: to ensure that Milford citizens trust that they have the support of their local bank.
As Bank President and CEO Jorge Santiago puts it: “We have been a part of this community since 1872, and throughout these years, our mission has remained the same: to ensure that our neighbors thrive, local businesses flourish, and our community remains strong and resilient.”
Every day, thousands of citizens rely on The Milford Bank for personalized financial services from trustworthy and dedicated bankers. A vital element to countless local businesses, restaurants, and residents, the bank plays a crucial role in supporting Milford’s economic growth and community stability.
Lasse’s Restaurant owner Scott Rohrig explains why he has chosen The Milford Bank for over 50 years. “It’s a personal bank where I can call somebody if I need something right away,” Rohrig says. Doing business with The Milford Bank provides benefits like accessibility and familiarity, which set it apart from larger national institutions. “If I need a credit advance, change for our business, or to cash a large check, it’s readily available without a problem. And their staff is so friendly.”
What sets the bank apart from larger national banks is the culture of community it creates by engaging with customers and supporting local initiatives. Every year, the bank donates hundreds of thousands of dollars to organizations such as Bridges, the Beth-El Center, the Boys & Girls Club, and many more. Santiago emphasizes that “the profits we generate are going back to help our neighbors.”
Aside from donations, the bank proves its commitment to Milford by participating in service events throughout the year, such as serving meals at the Storehouse Project’s community dining center, hosting the Milford Moves for Veterans 5K walk/run, and leading the Nourishing Neighbors campaign, which raised over $25,000 to combat food insecurity. “Banking with The Milford Bank means your money will stay in your local community and help your friends and neighbors,” Santiago says.
Their contributions to the local community have had a significant impact on many organizations in Milford. Through donations, loans, and grants, The Milford Bank plays an active role in sustaining the community it serves. Helen Lamhs from the Milford Historical Society emphasizes the bank’s lasting influence, saying, “The Milford Bank has always been supportive of the community at large, particularly through its Foundation, which supports local non-profit organizations. The Milford Historical Society is honored to have been a TMB Foundation grant recipient.”
With a promise to Milford residents, the bank offers a wide range of services to align with the growing needs of the Milford community. From mortgages with as little as a 3% down payment and first-time homebuyer programs with discounted fees and rates, to a Credit Builder loan program that helps people rebuild their credit, the priority is always to serve customers with affordable and convenient options. Beyond residents, the bank also offers services tailored to help local businesses flourish, including flexible loans with low minimums. “We can help a newer small-business owner obtain a $5,000 line of credit or assist a more established business in purchasing a multi-million-dollar property,” Santiago explains.
Building a trusting relationship with a bank is crucial when working toward financial goals, and The Milford Bank understands that when it comes to finances, customers should be more than just an account number. Having one-on-one conversations rather than speaking with an online chatbot can make all the difference, which helps explain why so many Milford residents choose The Milford Bank. As Santiago explains, “I believe that every account belongs to a person or a business with a unique story. I want to hear those stories and help whenever possible.” In a world of national chains and digital banking, The Milford Bank continues to prove that sometimes the strongest investment you can make is in your own community.