Fidelity Bank donates building to Fitchburg State

FITCHBURG — Fidelity Bank will mark the completion of its merger with Family Federal Savings Bank by donating its former headquarters building at 675 Main St. to Fitchburg State University.

Preliminary discussions are underway regarding how the building will be used. Fidelity Bank will have the naming rights to the reimagined building.

“This gift honors the commitment of both Fidelity Bank and Family Federal Savings Bank to serving the people of Fitchburg and the other communities they serve,” said Fidelity Bank Chairman and CEO Edward F. Manzi Jr., who formerly worked in the building. 

Earlier this year Fitchburg State University opened ideaLab in the adjacent building at 717 Main Street. It includes a game design studio for Fitchburg State students in the program. The former bank headquarters will be part of an effort to revitalize the Theater Block and increase financial education for residents and students. Fidelity Bank's headquarters is now located in Leominster.

“We are grateful for Fidelity’s generosity in making this space available to the university,” said Fitchburg State President Richard S. Lapidus. “This property and its proximity to the Theater Block and ideaLab will create strategic opportunities for future programming in this vital stretch of downtown.”

Fitchburg officials said they are grateful for the donation of the building, assessed at approximately $700,000.

“This generous gift will help revitalize an important section of the downtown and help Fitchburg residents and students build a brighter financial future for themselves and their families,” Fitchburg Mayor Stephen L. DiNatale said. “It marks an exciting new chapter in Fidelity Bank’s relationship with the city, which started almost 140 years ago.”

The building at 675 Main St. has a rich history. When Fidelity Bank bought the building in 1921, the bank’s assets were $2.3 million. Once the merger with Family Federal Savings is completed Jan. 1, the merged state chartered mutually owned financial institution will have combined assets of approximately $1.05 billion. At one point 675 Main St. was Fidelity Bank’s only full-service office. The addition of the Fitchburg, Stow and Needham branches of Family Federal Savings Bank will bring Fidelity Bank’s total of full-service offices up to 14.

Fidelity Bank’s 675 Main St. location will permanently close at the end of business Feb. 21. Fidelity Bank’s new full-service location at the converted Family Federal Savings Bank’s Fitchburg location at 130 Whalon Street will open as Fidelity Bank on Feb. 24.