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Bank History

Why Should You Choose Mayville Savings Bank?

We are proud to say that for 98 years, Mayville Savings Bank has been a locally managed hometown community bank that is owned by our depositors.   

In today’s world, banking is changing. Large, national banks and credit unions continue to expand through mergers and acquisitions.  As a result, there are fewer banks and credit unions today than at any other time in our lifetimes.  And, as they grow larger, they become more distant from their customers.  Yet through all of these changes, Mayville Savings Bank has not only survived, we’ve thrived!  We continue to be a local community bank with our heart and soul right here, and we truly are different.

On February 1, 1922 the Mayville Savings and Loan Association first opened for business.  Our local  “Building & Loan” was created to serve two local needs. First, to promote housing by offering affordable home loans to all residents; and second, to provide a means for people to safely save money by depositing small sums on an installment basis.

Fast forward to 2020, when most banks are now owned by stockholders. The management of these banks owe their allegiance to those stockholders and NOT to their customers. At Mayville Savings Bank, we are a mutual institution which simply means that we are owned by our depositors.  Your hard-earned dollars are reinvested into our local families’ homes and businesses.  Instead of dividend checks, our customers receive outstanding local service, local decisions and a local commitment to their family and friends. These are the things that money can’t buy.

Many banks require that you call in advance to set up an appointment to open or even to close an account.  In fact, we know there are banks that require you to make an appointment to simply have a document notarized.  At Mayville Savings Bank if you want to call ahead you certainly can, but it isn’t necessary. Just come on in! We work for you, not the other way around.

Some banks limit your banking services to an online environment.  At Mayville Savings Bank we love the Internet, but we believe that you should choose how you wish to conduct your banking business.  So, whether you prefer online access or personalized, face-to-face interaction, we have what you need.

Some organizations require you to buy a membership in order to become a customer.  At Mayville Savings Bank, we don’t sell memberships. We are open to any and all people who wish to use a local community bank.  Please come see us, as everyone is welcome at Mayville Savings.

Some banks may expect you to wait weeks while an out-of-town management team and their owners make the decision as to whether your loan request is approved or denied.  At Mayville Savings Bank, our management team is local and we are the decision-makers.  We simply do not believe that loan decisions should take weeks to make, and we sure hope you agree.

We are your local community bank that is here to help you save money and now we can help you invest it as well.  In 2019, we formed Cardinal Financial Services which was created to offer people with full service financial planning services. Call or stop in for the details on this new investment opportunity.

Whether you are looking to invest for retirement, manage your daily funds, borrow money to buy a car, build or remodel your family home, or finance equipment for your company, Mayville Savings Bank wants to be your local hometown bank.

After 98 years of providing banking services to generations of families, our roots run deep in the Mayville area.  Why not come and join us?  We’re confident you will love the difference.



Richard A. Larson, Jr.

President & CEO

Mayville Savings Bank