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While most community banks have been hesitant to sign up to a real-time payment processing system, Hudson-based Avidia has jumped in with both feet.
Avidia Bank, a small $1.6 billion–asset bank based in Hudson, chose a path last week that few, if any, community banks in the country have dared to go down.
Avidia Bank is celebrating its 150th anniversary throughout 2019. Avidia Bank is the combination of two longstanding community banks: Hudson Savings Bank and Westborough Bank, both founded in 1869. Avidia recently celebrated 10 years of coming together as Avidia. Now in 2019, it is celebrating its 150th anniversary of providing community banking to the MetroWest and Central Massachusetts communities.
Avidia Bank in Hudson, Mass., is set to become the first small bank to join The Clearing House's real-time payment system, even as many other community banks are continuing to pressure the Federal Reserve to offer its own faster payments service.
Avidia Bank employees gave back to the local community in a big way during 2018. During a recent survey of Avidia employees, the bank found that over 1,200 hours were spent volunteering in the community. Employees volunteer for organizations such as Community Harvest Project, Special Olympics of Massachusetts, United Way of Tri County, Buddy Dog Humane Society, the Marlborough Senior Center and local Rotary Clubs, to name a few. Read the full press release in the Community Advocat