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]
| Company type | Mutual organization |
|---|---|
| Industry | Banking |
| Founded | 1877 |
| Headquarters | Taunton, Massachusetts |
| $5 million (2017) | |
| Total assets | $568 million (2017) |
| Total equity | $49 million (2017) |
| Website | mechanics-coop |
| Footnotes / references [1] | |
History
editThe 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
edit- ^ a b c d e f "FDIC Bank Info: Mechanics Cooperative Bank (FDIC #26634))". Federal Deposit Insurance Corporation.
- ^ "Bank Notes". Federal Reserve Bank of Boston. November 2007.
- ^ Munroe Dion, Marc (August 18, 2008). "Lafayette, Mechanics banks to merge". GateHouse Media.