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Marquette Savings Bank: A Community-Based Financial Institution That Shows SMBs the Power of Local Service

Marquette Savings Bank: A Community-Based Financial Institution That Shows SMBs the Power of Local Service

Adam West

Thursday Mar 23rd, 2023

In a Nutshell: Marquette Savings Bank is the only remaining locally owned and headquartered financial institution in Pennsylvania’s Erie and Crawford counties. Marquette started off as a mutual savings bank and has expanded its operations to include personal and commercial banking options that rival its larger competitors. What’s more, the bank recently opened a community-oriented Innovation Learning Center offering financial education both for locals who bank with the institution and those who don’t. When banks are enmeshed in their communities, individuals who may not otherwise qualify are more likely to receive loans.

Marquette Savings Bank has operated in Erie and Crawford counties in Pennsylvania, for the last 115 years. For much of its history, the bank used a traditional mutual savings bank model and only started to offer checking accounts and other personal banking options in 2006. In 2009, the financial institution opened its commercial banking division.

Today, Marquette is a significant operator in the region.

“We’re first in market share in Crawford County in terms of mortgage lending, second in the market in Erie County. So, we pride ourselves on being the mortgage experts, particularly for construction in this area,” said Kelly Montefiori, EVP, the bank’s Chief Operating Officer.

Marquette serves a region dotted with national and international financial institutions Montefiori calls “the big guys.” And while Marquette manages $1.2 billion in assets, it maintains the commitment to personalized service of a small, local institution.

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