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Mechanics Cooperative Bank

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Mechanics Cooperative Bank
Company typeMutual organization
IndustryBanking
Founded1877; 147 years ago (1877)
HeadquartersTaunton, Massachusetts
$5 million (2017)
Total assets$568 million (2017)
Total equity$49 million (2017)
Websitemechanics-coop.com
Footnotes / references
[1]

Mechanics Cooperative Bank is a savings bank headquartered in Taunton, Massachusetts. The bank has 9 branches, 8 of which are in Bristol County, Massachusetts.[1]

History

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The bank was founded in 1877 as Mechanics' Co-operative Bank.[1]

In 1986, the bank became insured by the Federal Deposit Insurance Corporation.[1]

In 2007, the bank acquired Bridgewater Cooperative Bank.[2]

In 2008, the bank acquired Lafayette Federal Savings Bank.[3]

In 2011, the bank reorganized into a mutual organization.[1]

In 2014, the bank changed its name to Mechanics Cooperative Bank.[1]

References

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  1. ^ a b c d e f "FDIC Bank Info: Mechanics Cooperative Bank (FDIC #26634))". Federal Deposit Insurance Corporation.
  2. ^ "Bank Notes". Federal Reserve Bank of Boston. November 2007.
  3. ^ Munroe Dion, Marc (August 18, 2008). "Lafayette, Mechanics banks to merge". GateHouse Media.