Then & Now: Guaranty Bank, 51 Gold Star Blvd., Worcester
Earl Fairbanks of Worcester earned a cool $100 after employees of Guaranty Bank & Trust spotted a gold star sticker in the rear window of his car.
It was a good amount of money for 1958, worth $1,057 in today's dollars.
The payout was part of Guaranty's promotion of its newest branch, at 51 Gold Star Blvd., shown in this week's Then photo. Gold star stickers for a Gold Star branch.
In the weeks prior to the grand opening on Jan. 6, 1958, the bank handed out gold star stickers to existing and would-be customers. People were urged to put them in the rear window of their automobile. Bank officials kept their eyes open for the stickers, placing a card on the car's windshield that encouraged the car owner to register their name at the bank's main office.
Smaller payouts were handed out weekly, with grand prize winners determined in conjunction with the grand opening. Besides Fairbanks, big winners were Gilbert M. Clifford Sr. of Worcester ($50) and Donald Sistare ($25), the police chief in Paxton.
Mayor James D. O'Brien and bank President Roland Erickson were among the dignitaries on hand for the grand opening. Homer Audette was the bank manager. It was the bank's fourth branch at the time.
The new building, at a cost of $250,000, was built on land the bank bought from the city. It paid $28,000 for the parcel.
It was located in an area of the city that had a mix of three-deckers, industrial buildings and retail stores.
These days, Gold Star Boulevard, West Boylston Street and points in between are mostly retail, with the old Guaranty branch still part of the landscape. The bank, in Gold Star Crossing, across the parking lot from Shaw's, is now a Santander branch.
The Guaranty sign came down in late 1987 after the bank was bought by Bank of New England.
The sale marked the end of Guaranty, a bank that dated to 1915, then called Skandia Credit Union. Its once-familiar logo, a Viking ship, paid tribute to the bank's Scandinavian American customers.
Guaranty, which built a 12-story headquarters at 370 Main St. in 1971, moving from the Slater Building next door, was once one of four large banks based in Worcester, with the others being Worcester County National Bank, Mechanics National Bank and Commerce Bank & Trust.
Over the years, with bank ownership changes, the building on Gold Star Boulevard has been home to Fleet Bank, Sovereign and now Santander.
Last week Then & Now: Valhalla Restaurant, 10 Summer St., Worcester
This article originally appeared on Telegram & Gazette: Then & Now: Guaranty Bank, 51 Gold Star Blvd., Worcester
