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| Company type | Mutual organization |
|---|---|
| Industry | Banking |
| Founded | 1877; 148 years ago (1877) |
| Headquarters | Taunton, Massachusetts |
| Net income | $5 million (2017) |
| Total assets | $568 million (2017) |
| Total equity | $49 million (2017) |
| Website | mechanics-coop |
| Footnotes / references | |
Mechanics Cooperative Bank is a savings bank headquartered in Taunton, Massachusetts. The bank has 9 branches, 8 of which are in Bristol County, Massachusetts.
History
The bank was founded in 1877 as Mechanics' Co-operative Bank.
In 1986, the bank became insured by the Federal Deposit Insurance Corporation.
In 2007, the bank acquired Bridgewater Cooperative Bank.
In 2008, the bank acquired Lafayette Federal Savings Bank.
In 2011, the bank reorganized into a mutual organization.
In 2014, the bank changed its name to Mechanics Cooperative Bank.
References
- ^ "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.