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Federal Deposit Insurance Corporation FDIC Insured - Backed by the full faith and credit of the U.S. Government.

Gloucester Educational Savings Bank

At Cape Ann Savings Bank, we understand that the youth of our communities are the future of our communities. As part of our deep commitment to Cape Ann, we have partnered with Gloucester High School to offer students an extraordinary learning opportunity for the past 30 years.

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Cape Ann Savings Bank Scholarships

As part of our commitment to education, paired with the understanding of the rising costs of a college education, Cape Ann Savings Bank offers scholarship opportunities, annually, for  graduating seniors of Gloucester, Manchester-by-the-Sea and Rockport High Schools. Three scholarships, per eligible community, will be awarded to graduating seniors, in the amount of $1,500.00 each. Our Gloucester High School Scholarship is the Sandra L. Tucker Memorial Scholarship. Preference is given to Gloucester High School seniors who have successfully completed the Gloucester Educational Savings Bank Program. To apply for the scholarships, please refer to your school's scholarship booklet or contact your Guidance Department.

Abbott Scholarship Trust

The Abbott Scholarship Trust awards scholarships, annually, to graduating seniors and currently enrolled college students who are residents of Gloucester, Essex or Rockport.

About the Abbott Scholarship Trust: The Abbott Scholarship Trust was established by the Will of James N. Abbott, Jr., "to help underwrite students from Gloucester, Rockport, and Essex to attend full-time accredited institutions of higher learning subsequent to their graduation from high school." The Will provides that "Scholarship recipients shall be bona fide residents domiciled in Gloucester, Rockport and Essex, possessing, in addition to strong academic and moral qualifications, a firm commitment to the area of Cape Ann demonstrated insofar as possible by expressed intention and willingness to reside in the area after completion of their studies, practicing their professions, skills, business and talents within this community, thus returning in some measure the benefits conferred upon them by this "Trust."

Deadline for 2024 Abbott Scholarship applications to be submitted, June 10, 2024.

Saving Makes “Cents”

Here at Cape Ann Savings Bank, we like to see savings grow. As a participating member of the Commonwealth of Massachusetts "Saving Makes Cents Program," we are active in our local elementary schools in Gloucester, Manchester-by-the-Sea and Rockport helping children in third through fifth grades learn how to save.

Saving Makes

It's as easy as this:

  • Open a savings account with one of our representatives with a minimum of $5.00.
  • Receive $5.00 from Cape Ann Savings Bank as a one-time matching deposit for starting your account.*
  • Receive a zip up bank bag and piggy key chain.
  • Save your money and see one of our representatives at your elementary school on weekly Banking Day during the school year.
  • Earn additional key chains as you save, save, save.
  • Sit back and watch your savings grow!

"Saving Makes Cents" runs during the school year. Additional deposits are always welcome year round at our Main Office in Gloucester, Manchester-by-the-Sea Branch, or Granite Branch in Rockport.


* May be subject to 1099 reporting


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