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Cambridge Savings Bank Appoints Bonsey as Chief Credit Officer

September 10, 2021, 07:40 AM

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced Michael Bonsey has joined the bank as Chief Credit Officer. Bonsey’s charge is to maintain the standing of the bank’s credit portfolio, continue the development of its credit policies and procedures and uphold the quality of its lending portfolio.

Bonsey is an ideal choice for the Chief Credit Officer role as he brings 35 years of experience in commercial banking, lending regulations and risk management to CSB’s leadership team. But most importantly, he embodies the bank’s approach to customer service and treating every customer like they are the only customer. Prior to joining CSB, Bonsey served as Chief Credit Risk Officer at Northern Bank & Trust Company in Woburn, MA, and has also held senior leadership roles at New England-based institutions, Leader Bank and Bar Harbor Bank.

“What drew me to Cambridge Savings Bank is the employee-friendly culture and team of growth-minded individuals,” said Michael Bonsey, Chief Credit Officer at CSB. “Everyone at CSB is dedicated to empowering our customers with financial solutions and steps up to the plate to raise up the communities we serve. I could not be more honored to support the credit needs of a bank with a proven commitment to the greater responsibility of giving back to the community.”

Bonsey’s dedication to serving others is evidenced by his numerous volunteer activities. He has been a Rotarian for 26 years and is currently the Treasurer of the Reading, MA Rotary Club. He served on the Board of the Maine and Massachusetts RMA Chapters, was the Chair of the Board of Trustees for Mount Desert Island Hospital in Bar Harbor, ME, and has been active with numerous other community-based organizations in New England.

“At Cambridge Savings Bank, we are focused on giving our customers both a memorable and personalized experience and that starts with hiring the right people,” said Michael Gilles, Executive Vice President and COO at CSB. “Michael understands that the bank’s success is directly tied to the best possible banking experience for every customer. His extensive leadership background paired with his proven devotion to bettering the community makes him a valuable asset for CSB and our customers alike.”

Aligned with CSB’s client-centric mindset, Bonsey will implement strategies that enhance the customer experience by working closely with all departments to make efficient credit decisions and deliver customized solutions to meet the needs of each individual and business that the bank serves.

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