FAQs

We have convenient branch locations in Adams, Cheshire, Lanesboro, Lee, Lenox, North Adams, Williamstown, Pittsfield, and Great Barrington.

Visit our Locations and Hours page for more information.

All branches are open Monday through Friday, with most open on Saturday as well. Please visit our Locations and Hours page for our hours of operation.

Our routing number is 211871523.

ACB has three convenient ways for you to open an account:

• Visit any of our branch locations
• Existing customers can open an account by signing into online banking and clicking ‘Open an Account’ on the top toolbar.
• New Customers or existing customers without online banking can use our online account opening portal

It is very important that you keep your address up to date with us so you don’t miss out on important communications. To change your address, visit any of our convenient locations to fill out the appropriate form. For your protection, we do require proper identification to change your address, so be sure to bring your ID.

If you use online banking, you may log into your account and update your address, telephone number and email electronically. Visit Services / My Profile within online banking.

You can find the list of our current holiday hours on our Locations and Hours page.

We offer this service at each of our convenient locations. There is no fee for this service.

For domestic outgoing wire transfers we need the receiving bank’s name, address, and their routing number. We also need the beneficiary’s name, address, and account number. For a domestic incoming wire the sender will need your account number, name, and address. They also need our name, address (2 Center St, Adams, MA 01220) and our routing number (211871523).

For international outgoing wire transfer we need the receiving bank’s name and address (physical address, not PO Box). We also need the bank’s Swift code and IBAN, the beneficiary’s name, address (physical address, not PO Box), and account number. For international incoming wires the information they would require depends on the type of funds and how the bank sends the funds. Please call one of our customer service representatives to get the correct information.

EFT stands for Electronic Funds Transfer. It is a term that encompasses many kinds of money transfers between accounts in a single bank, between accounts at separate banks, or between individuals and companies (as in online banking).

POS stands for Point Of Sale. A POS is the process through which a sale transaction is done by a merchant using the customer’s debit/credit card, which can be in person, by telephone, or online.

ACH stands for Automated Clearing House. ACH is the national network that coordinates electronic transfers of money between an expanding number of entities. ACH has now evolved into an enormous entity that processes approximately 20 percent of all non-cash payments in the United States.

An eStatement is an account statement in electronic format instead of paper. It looks like a paper statement, but you don’t have to wait for your statement to arrive in the mail. You will be notified via email that your statement is ready to view. You can view your statement through online banking from any computer or mobile device, making it easy to check transactions and balances and balance your account. eStatements are convenient, secure, and environmentally better than paper statements.      

You can order your checks by visiting the Harland Clarke website at www.ordermychecks.com, or by stopping in any of our convenient branch locations.

Both you and the new signer will have to visit one of our branches with proper identification to sign new signature cards.

You can call us at 413-743-0001 to request a stop payment. If you use online banking you can also log into your account and place a stop payment online.

In most cases, your funds will be available for withdrawal within one to two business days. Please refer to our Funds Availability Policy for more details. “Available for withdrawal” is a legal term defined by federal law and regulations designed to provide customers with quick access to their funds. It is based on the premise that the vast majority of checks are processed quickly through the payments systems and are drawn on legitimate accounts that have sufficient balances to pay the check. Unfortunately, some checks are fraudulent or are drawn on accounts with insufficient funds or on accounts that have been closed. This is a real concern for consumers and financial institutions, as fraudulent checks are always circulating.

Yes, when a financial institution tells a customer that their funds are “available for withdrawal”, it is not a statement that the customer’s check has cleared or that a check deposited will be paid by the bank on which it is drawn. There is a chance the check could still be returned and the responsibility of the returned check is that of the customer.

You can visit any one of our convenient branch locations to request a duplicate statement. If you are enrolled in e-statements through your online banking you can also retrieve up to 12 months of previous statements.

There are two options for activating your debit card; you can call the 1-800 number that will be printed on the sticker on the front of the card when you receive it via mail. You will be prompted to input the card number and the PIN number and that will activate your card. The other option is to stop at one of our ATM’s and do a balance inquiry or complete a transaction and that will also activate your card.

Your debit cards are automatically set with a daily purchase limit and an ATM withdrawal limit. You can find these limits in your new account disclosures or by calling 413-743-0001 during business hours. These amounts can be increased or decreased at your request. The set amounts are there for protection and security against potential risk to both the customer and the bank. If you need to make a one time purchase that exceeds the purchase limit or you are going on vacation and would like an increased daily ATM withdrawal limit, you may call or stop into any branch location. You are responsible for re-contacting us to decrease that limit set to make that one time purchase. Please note that the Debit Card POS transaction cut-off time is 6:00 P.M. and the ATM transaction cut-off time is 5:30 P.M.

If you have Online Banking, you can sign in and deactivate your card until you find it or receive a new card in the mail.

You can report your lost or stolen debit card to Customer Connect at (413) 743-0001. They can assist you or connect you to a Video Banking Expert.

You can stop into any of our branch locations to have a Community Banker create a direct deposit payroll authorization form for you. This form will list all pertinent information you will need to begin direct deposit.

It’s easy! Simply go to www.adamscommunity.com and locate the Online Banking log-in portal on the upper right-hand of the homepage. Click “Personal Signup” or “Business Signup,” and the website will walk you through the sign-up process.

Both Online Banking and Online Bill Payment are provided to every customer at no charge.

If you use online banking, you can pay down your loan online. At this time, we do not offer payoffs through our online system. We would be happy to process your payoff in person at any of our convenient locations, through the mail or by telephone at 413-743-0001.

Adams Community Bank’s automated voice response system (VRU) # is 888-338-7272.

To access Telephone Banking for the first time after your account is open and funded, please call us at (413) 743-0001 during regular business hours for your initial PIN.

Mobile Banking, or m-banking, enables mobile phone users to access basic financial services even when they are miles away from their nearest branch or home computer. If you own a smartphone, you can view your account information, transfer funds and even pay bills.

Unless we hear from you within 10 calendar days, your CD’s principal and interest will renew into the same CD-month term at the prevailing interest rate in effect for that term at that time.

If you cannot make it to the Bank for your renewal, you can call Customer Connect at (413) 743-0001. They can assist you or connect you to a Video Banking expert.

An individual retirement account (IRA) is the blanket term for a form of retirement plan that provides tax advantages for retirement savings in the United States. The Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which you make them. You are able to establish a Traditional IRA any year that you have eligible earned income.

The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth than a Traditional IRA. You are eligible to establish a Roth IRA if you or your spouse has compensation and your modified income does not exceed certain prescribed limits.

Please gather the following items for your consumer application.
Some information is needed to complete the application, other documents may be needed to complete the application process.

You can also apply for an auto, personal or collateral loan online and one of our Loan Officers will reach out to you.

1. Copy of your most recent paystub.
2. If retired, a copy of your Social Security Benefit Statement.
3. If self-employed or you own rental property, a copy of last two years’ tax returns.
4. If you are purchasing a vehicle from a dealer, please provide a copy of the dealer’s purchase agreement. If you are purchasing in a private sale, please provide a copy of the seller’s proposed bill of sale and either a copy of the registration or a copy of the title.

The following items will be necessary for Adams Community Bank to process your application request; you can bring these with your application but are not required to provide them until after the bank has provided you with a Loan Estimate and you indicate your intent to proceed with the loan.

You can also apply for a mortgage online and a Loan Officer will reach out to you.

1. Copies of W-2’s for the last two years AND a copy of your most recent pay stub.
2. If self-employed, a copy of last 2 years’ personal and business federal income tax returns.
3. Purchase and Sales Agreement, if applicable.
4. Copy of deposit check to realtor, if applicable.
5. 2 months current bank statements on all accounts.

Adams Community Bank requires the following information for each Applicant; you can bring these with your application but are not required to provide them for a Home Equity Loan application until after the bank has provided you with a Loan Estimate and you indicate your intent to proceed with the loan.

You can also apply for a home equity loan or line online and a Loan Officer will reach out to you.

1. Copies of W-2’s for the last two years AND a copy of your most recent pay stub.
2. Copies of Social Security checks, Retirement pensions, Disability checks. If any of these checks are directly deposited into an account, provide a copy of your most recent statement showing these deposits.
3. If self-employed or you own rental property, a copy of last 2 years’ tax returns.
4. A copy of your tax bill showing assessed value.

Typically the starting rate for an adjustable-rate mortgage is lower than a fixed-rate mortgage. This results in the starting payments on an ARM being less than for a fixed-rate mortgage on the same amount.

Your adjustable-rate mortgage might also be less expensive over a period of time as compared to a fixed rate if interest rates remain steady or decrease.

Against these advantages, you might have to weigh the risk that an increase in interest rates would lead to higher monthly payments. In order to assess the risk you need to consider the following:

• Is it likely your income will increase enough to cover a higher mortgage payment if interest rates increase?
• Will you have new debts in the near future?
• How long do you plan on owning this home?
• Can your payments increase even if interest rates generally do not increase?

Pre-qualifying for a mortgage is easy and convenient. You should contact your Adams Community Bank Loan Officer and arrange an appointment.

We will review your income, asset and credit information, then be able to tell you what you can afford.

You can also apply for a pre-qualification online and a Loan Officer will reach out to you.

Yes, we will lock your rate, free of charge, from the date of your application.

Adams Community Bank typically does not require any inspections for residential mortgages. However, if there is an apparent concern regarding the property, test(s) may be required.

Yes, you can select your own attorney; however, the responsibility of the attorney for the mortgage is to protect the interest of the Mortgagee, (the bank).
Your Loan Officer can supply you with a list of local attorneys if you do not have an attorney.

Closing costs are costs you will incur in the process of obtaining your mortgage. These typically include fees such as points (optional), appraisal, legal fees, title insurance. Additionally, at closing, there are escrows for property taxes and Private Mortgage Insurance, if applicable.

In addition to principal and interest, an escrow payment for property taxes and Private Mortgage Insurance (if applicable) and Flood Insurance (if applicable) may be included in your payment.

The three major credit bureaus can assist you in obtaining a copy of your credit report. There are many websites that can provide that information, such as annualcreditreport.com.

A fixed-rate mortgage is a loan where the principal and interest payments (P&I) never change over the life of the loan, since the interest rate never changes. An adjustable-rate mortgage has an interest rate that will change at various intervals during the life of the loan; therefore, the principal and interest payment will change periodically

APR means Annual Percentage Rate. This should not be confused with your mortgage interest rate. APR is the yield the lender calculates on your mortgage when it takes into account finance charges you will pay at closing and over the life of the loan.

Private Mortgage Insurance is required when your down payment is less than 20%. It protects the lender against loss if the borrower defaults on the loan. PMI product, the amount of your down payment, and your credit score.

A Loan Estimate contains estimates of all costs associated with closing your loan. It must be provided to you within 3 business days of your mortgage application.

“Caps” are associated with adjustable-rate mortgages. Caps limit how much the interest rate can increase or decrease. Periodic Caps limit the increase or decrease per adjustment period, whereas a lifetime Cap limits the amount the rate can increase over the life of the loan. For example, the lender may stipulate the interest rate on an ARM can increase or decrease up to 2% per adjustment period, but not more than 6% over the life of the loan.

No, we will arrange for PMI coverage on your loan. PMI products vary. When you apply for your loan, ask your personal banker what options are available.

Escrow payments are additional payments paid each month for the purpose of taxes, insurance, and PMI if necessary. The bank collects these payments from you on a monthly basis and is responsible for making timely disbursements of escrow funds to pay these bills.

You can make your payments at any Adams Community Bank branch office, by mail, or from the convenience of your home by transferring funds via your online banking.

For online payments simply follow these steps:

• Simply log into your own ACB online banking profile from our website.
• Click the “Pay Bills” tab.
• Click “Make a Loan Payment”.
• Select the account you want the funds withdrawn from and then the loan you wish to pay.*
• You will then be able to choose various payment options.
• Click on the “Submit” button, then after reviewing the transfer you must click “Confirm” to have the payment scheduled.

It’s as easy as that!

*If you do not see the loan you wish to pay in the dropdown list, please contact one of our customer service representatives at any branch.

You will receive a monthly statement for your mortgage.

Title Insurance is an insurance policy that is typically paid by a homeowner which ensures that the homeowner and/or the lender have a clear title, free of any claims. As one attorney aptly states, “title insurance protects against the unknown”. If someone were to make a claim against your property, and you were covered by title insurance, the insurance company would pay all expenses needed to clear any clouds on the title to the property. There are two types of title insurance: an owner’s policy and a lender’s policy. An owner’s policy will protect the homeowner for the full value of the property for as long as that person owns the property. A lender’s policy only protects the lender and covers up to the amount of the outstanding loan. Most lenders require the borrower to provide a lender’s policy.

This depends mostly on two factors – your appetite for interest rate risk and the amount of time you plan on having the mortgage loan for. For example, if you see yourself refinancing or selling in the next 5-7 years, a 5-yr ARM may be the right product for you, especially if the difference in rate and monthly payment is significant.

A point is 1% of the loan amount, and it is paid upfront at closing as pre-paid interest. In return, you are given a better interest rate. To determine whether it is worth your benefit to pay a point, you first need to have an idea of how long you plan on having the current mortgage loan. You then compare the cost of the point to the savings on the monthly payment realized by paying the point. You simply divide the cost by the monthly savings to determine the number of months or payments you will make until you realize a savings. (Example: On a $100,000 loan, 1 point equals $1,000. If the difference in payment is $25, you would divide 1,000 by 25, which is 40. In this example you realize the benefit of paying the point after 40 months).

Our goal is to build long-term banking relationships with our customers. On occasion the Bank may decide to sell a loan. If that occurs, we will ensure that this is a seamless event for our customer. You would still continue to make your payments to Adams Community Bank and deal with the loan professionals at Adams Community Bank for the duration of your loan.

Closing costs can vary, depending on several factors: loan amount, whether it is a fixed or an adjustable rate loan, and whether it is a purchase or a refinance. A good rule of thumb is to budget approximately $4,000, but you should ask one of our loan professionals to provide you with a Loan Cost Worksheet to compare our costs to that of other lenders. We are confident that our closing costs will be less than most lenders.

You can get an estimate of closing costs by contacting one of our Loan Officers.

If you use online banking, you can pay down your loan online. At this time, we do not offer payoffs through our online system. We would be happy to process your payoff in person at any of our convenient locations, through the mail or by telephone at 413-743-0001.

Escrow accounts are reanalyzed in January, at that time a notice is sent to each customer with any of the adjustments that need to be made to the account. You will see any changes effective in the March payment.

Your deposits are insured in full. Deposit accounts will be insured by the FDIC, generally up to a total of $250,000, and account balances in excess of FDIC deposit insurance coverage limits will be insured by the Depositors Insurance Fund. Higher FDIC coverage amounts are available under certain circumstances, depending on account ownership structuring and other factors.