• Member Spotlight




    American Savings Bank

    by Adam Marcum


    Founded in 1889, American Savings Bank has been in business for more than 128 years, but if you walk from office to office in either local branch, you’ll find that the staff’s combined experience far exceeds that length of time.


    Fred DeBiasi has been the President/CEO of American Savings Bank for nearly a decade. He says that following college graduation, many of the career offerings for an accounting major didn’t appeal to him. The banking industry, and eventually American Savings Bank, was a great fit.


    “We’re a hometown bank. When people walk into our branches they’re greeted on a first name basis. We know our customers and their families and take great pride in that relationship.”


    As a mutual savings bank, American Savings Bank is owned by its depositors rather than stockholders. This allows bank leadership, most of whom are Middletown natives, to protect the interests of the local community in all that they do.


    The ability to relate to their customers in this way is what sets them apart from some of their competitors. An important part of that, according to DeBiasi, is that people know who their “go-to” person is. In other words, one person who manages your needs from start to finish, rather than a call center somewhere out of state


    The tricky part, says DeBiasi, is finding the right balance between the old and new ways of doing business. For him, that means maintaining the same customer service standards they have become known for while also keeping up with the latest trends and technologies that big banks roll out. It’s important to note that American Savings, a small bank by comparison, offers many of the same benefits of commercial banking, including mortgages, small business loans, commercial lending and even a mobile app.


    American Savings Bank benefits from its Chamber membership in a few different ways, but for DeBiasi, the most significant outcome is a seat at the table when it comes to issues that affect businesses in the region.


    “I want to have a voice, place or platform to weigh in on key issues in this community. We are members of state and national trade associations that represent us on a larger stage while The Chamber helps represent us on local issues that affect us here at home.”