Mechanics' Cooperative Bank

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Overview / Commentary

mechanics-coop.com

508-823-7744

316 Broadway
Taunton, MA 02780

Mechanics' Cooperative Bank is headquartered in Taunton and is the 66^th largest bank in the state of Massachusetts. It is also the 1,437^th largest bank in the nation. It was established in 1877 and as of December of 2021, it had grown to 94 employees at 11 locations. Mechanics' Cooperative Bank has an A+ health rating.

Related Posts

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2018

6/18 - Mechanics Cooperative Bank (MA) Pushes 27-month CD Upward

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Health

A+

Data as of Q4 2021

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Health Grade Components

Overall
FDIC Certificate #	26634
Year Established	1877
Employees	94
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.11%
Return on Equity - YTD	10.02%
Annual Interest Income	$27.0MM

Assets and Liabilities
Assets	Q4 2021vs Q4 2020	$630.5MM$659.8MM
Loans	Q4 2021vs Q4 2020	$512.9MM$534.6MM
Deposits	Q4 2021vs Q4 2020	$536.3MM$503.4MM
Equity Capital	Q4 2021vs Q4 2020	$77.1MM$68.4MM
Loan Loss Allowance	Q4 2021vs Q4 2020	$4.0MM$4.0MM
Unbacked Noncurrent Loans	Q4 2021vs Q4 2020	$103.00K$162.00K
Real Estate Owned	Q4 2021vs Q4 2020	$0$0

Rates

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Money Market
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Mechanics' Cooperative Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.15%^*	$50k^*	-	Premier Choice Savings
OTHER TIERS: 0.10% → $100 - $50k
0.10%	$100	-	e-Choice Savings
0.05%	$100	-	Classic Savings (Passbook)
0.05%	$10	-	Christmas Club (Passbook)
0.05%	$100	-	Statement Savings

Mechanics' Cooperative Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.15%^*	$50k^*	-	Personal Money Market
OTHER TIERS: 0.05% → $100 - $10k \| 0.10% → $10k - $50k
0.15%^*	$75k^*	-	Choice Business Money Market
OTHER TIERS: 0.05% → $100 - $25k \| 0.10% → $25k - $750k
0.15%^*	$25k^*	-	Municipal Money Market
OTHER TIERS: 0.10% → $100 - $25k

Mechanics' Cooperative Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.25%^*	$50k^*	-	Top Choice Checking
OTHER TIERS: 0.05% → $500 - $50k
0.10%^*	$25k^*	-	Premier Choice Checking
OTHER TIERS: 0.05% → $100 - $25k
0.10%^*	$25k^*	-	Choice IOLTA
OTHER TIERS: 0.05% → $100 - $25k
0.05%	$100	-	18/65 Choice Checking
0.05%	$100	-	Unlimited Choice NOW

Mechanics' Cooperative Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
1.00%	$500	-	5 Years CD
1.00%	$500	-	5 Years Relationship CD Special -Qualifying
0.75%	$2.5k	-	27 Month CD Special
0.60%	$500	-	14 Month CD Special
0.40%	$500	-	4 Years CD
0.35%	$500	-	3 Years - Fixed Rate CD
0.30%	$500	-	2 Years CD
0.30%	$500	-	2.5 Years CD
0.25%	$500	-	3 Years - Variable CD
0.20%	$500	-	1.5 Years CD
0.15%	$500	-	1 Year CD
0.10%	$500	-	9 Months CD
0.05%	$500	-	3 Months CD
0.05%	$500	-	6 Months CD

Mechanics' Cooperative Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
1.00%	$500	-	5 Years IRA
0.40%	$500	-	4 Years IRA
0.35%	$500	-	3 Years - Fixed Rate IRA
0.30%	$500	-	2 Years IRA
0.25%	$500	-	3 Years - Variable IRA
0.20%	$500	-	1.5 Years IRA
0.15%	$500	-	1 Year IRA
0.05%	$500	-	6 Months IRA

Locations

Mechanics' Cooperative Bank Locations
1236 County St Branch	1236 County Street	Somerset, MA 02726
165 State Rd Branch	165 State Road	Westport, MA 02790
201 Gar Hwy Branch	201 Gar Highway	Swansea, MA 02777
Mechanics' Co-Operative Bank	316 Broadway	Taunton, MA 02780
North Dighton Branch	596 Somerset Avenue	North Dighton, MA 02764
Lafayette Federal Savings Bank Branch	60 Bedford Street	Fall River, MA 02720
Bridgewater Co-Operative Bank Branch	72 Main Street	Bridgewater, MA 02324
Taunton Branch	75 County Street	Taunton, MA 02780
New Bedford Branch	1238 Kempton Street	New Bedford, MA 02740

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