Everett Co-op Bank (MA) Has Competitive Short And Long-Term CDs


Availability: Market area is Massachusetts.

Earlier this week, Everett Co-operative Bank (ECB) raised the rate on its 14-month CD Special (1.30% APY) and 60-month CD (2.25% APY). The minimum opening deposit for either CD is $500, with a maximum balance cap of $250k.

1.75%$500-Everett Co-operative Bank60 Month CD
Rates as of April 19, 2024.

According to CSR, the Early Withdrawal Penalty for either CD is six months interest.

The fine print at the bottom of the Certificates of Deposit Rates page states:

ECB NOW Checking Account is requested.

I misread it at first, thinking it was “required” rather than “requested.” CSR and I had a laugh over it when I asked about the “required” NOW Checking Account. CSR stated that the Bank’s sense of propriety would never demand such a relationship, but would politely suggest one instead.


Everett Co-operative Bank is small, privately owned financial institution located in Everett, Massachusetts (five miles north of Boston).

The Bank’s services and product line are available to all residents of Massachusetts, but an in-person visit to either of two Massachusetts branches, located in Everett and Lynnfield, is required to open any account.

ECB’s online banking platform is currently dedicated to account management and bill payment services.

ECB’s deposits are not only insured by the FDIC, but are also covered by the Share Insurance Fund.

The Share Insurance Fund (SIF) is a private fund owned by the member
co-operative banks, which insures all deposits at co-operative banks in
Massachusetts above Federal Deposit Insurance Corporation (FDIC) limits.

Bank Overview

Everett Co-operative Bank (FDIC Certificate # 26444)has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 3.91% (excellent), based on March 31, 2016 data. In the past year, ECB has increased its total deposits by $42.02 million, an excellent annual growth rate of 13.04%. Please refer to our financial overview of Everett Co-operative Bank for more details.

Founded in 1890, Everett Co-operative Bank is somewhat of a rarity in these uncertain economic times: a privately owned community bank that is flourishing. In a 2014 article in the Massachusetts Banker (and reprinted in the Everett Advocate), ECB President and CEO Elizabeth Jones stated,

“We have gone from $136 million in assets to $377 million in 15 years,” said Jones. “And we are the fourth-largest single-branch community bank in the state.”
Yep, you read that correctly. Those figures are without Everett Co-op acquiring another bank or building additional branches, which makes it even more remarkable.

Since that interview, ECB has added a new branch in Lynnfield and is currently the 5th largest two-branch community bank in Massachusetts, with assets in excess of $431 million.

How the CDs Compare

When compared to the 342 similar length-of-term CDs tracked by DepositAccounts.com, with similar deposit requirements and available to Massachusetts residents, Everett Co-operative Bank’s 14-month CD Special APY currently ranks second.

When compared to the 279 similar length-of-term CDs tracked by DepositAccounts.com, with similar deposit requirements and available to Massachusetts residents, Everett Co-operative Bank’s 60-month CD APY currently ranks fourth.

The above rates are accurate as of 7/27/2016.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table, or our Rates Map page.

Everett Co-operative Bank 14-month CD Special - Massachusetts Only


Market area is Massachusetts, with no out-of-state deposits allowed on this CD Special.

Everett Co-operative Bank (ECB) is offering a 14-month CD Special (1.25% APY). The minimum opening deposit is $500 and there is a maximum balance cap of $250K.

According to CSR, the Early Withdrawal Penalty is six months interest.

An ECB Now Checking account is required to open the 14-month CD Special. The monthly service fee on the ECB Now Checking account can be waived if a $500 average daily balance is maintained, or if...

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High-Rate 33-Month CD Special at Everett Co-operative Bank in MA

Everett Co-operative Bank just came out with two CD specials. The best one is a 33-month CD that has a 2.30% APY. One downside is that an active ECB NOW Account with direct deposit is required to open this special CD. Also, it’s not available as an IRA. At maturity this CD will automatically renew to a 12 month CD unless the customer chooses another product. There’s also a 25-month CD special, but this has a much lower rate of 1.25% APY. This doesn’t appear to require the checking account....

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High-Rate 63-Month CD Special at Everett Co-operative Bank in MA

Everett Co-operative Bank just came out with a 63-month spring CD special. It has a very competitive rate of 3.00% APY. Minimum deposit is $500, and the maximum deposit is $250,000. An Everett Co-operative Bank NOW Checking Account is required to open this special CD. This CD special is listed at the bank’s deposit rates page as of 3/20/2014.

No out-of-state deposits are allowed for this special CD. It’s a small bank with one branch located in Everett, Massachusetts which is just north of Boston.

The bank has an overall health...

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