Mechanics' Cooperative Bank

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CURRENT TOP RATE

14 Month CD Special

Overview / Commentary

mechanics-coop.com

508-823-7744

316 Broadway
Taunton, MA 02780

Mechanics' Cooperative Bank is headquartered in Taunton and is the 65^th largest bank in the state of Massachusetts. It is also the 1,407^th largest bank in the nation. It was established in 1877 and as of June of 2022, it had grown to 97 employees at 11 locations. Mechanics' Cooperative Bank's money market rates are 7X the national average, and it boasts 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 Q2 2022

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Health Grade Components

Overall
FDIC Certificate #	26634
Year Established	1877
Employees	97
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.19%
Return on Equity - YTD	9.98%
Annual Interest Income	$13.2MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$641.8MM$675.6MM
Loans	Q2 2022vs Q2 2021	$522.5MM$529.6MM
Deposits	Q2 2022vs Q2 2021	$537.9MM$542.9MM
Equity Capital	Q2 2022vs Q2 2021	$76.1MM$73.2MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$4.0MM$4.0MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$68.00K$144.00K
Real Estate Owned	Q2 2022vs Q2 2021	$0$0

Rates

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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
1.25%^*	$50k^*	-	Premier Choice Savings
OTHER TIERS: 0.10% → $100 - $10k \| 0.25% → $10k - $25k \| 0.70% → $25k - $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
3.00%^*	$100k^*	-	Personal Money Market
OTHER TIERS: 0.10% → $100 - $25k \| 1.00% → $25k - $100k
2.50%^*	$250k^*	-	Choice Business Money Market
OTHER TIERS: 0.10% → $100 - $25k \| 0.50% → $25k - $100k \| 1.00% → $100k - $250k

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
4.35%	$500	-	14 Month CD Special
4.30%	$500	-	10 Month CD Special
3.50%	$500	-	6 Months CD
3.50%	$2.5k	-	27 Month CD Special
2.70%	$500	-	5 Years CD
2.70%	$500	-	5 Years Relationship CD Special -Qualifying
0.50%	$500	-	3 Years - Fixed Rate CD
0.50%	$500	-	4 Years CD
0.45%	$500	-	2.5 Years CD
0.40%	$500	-	2 Years CD
0.35%	$500	-	1.5 Years CD
0.30%	$500	-	1 Year CD
0.25%	$500	-	9 Months CD
0.25%	$500	-	3 Years - Variable CD
0.10%	$500	-	3 Months CD

Mechanics' Cooperative Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
3.50%	$500	-	6 Months IRA
2.70%	$500	-	5 Years IRA
0.50%	$500	-	3 Years - Fixed Rate IRA
0.50%	$500	-	4 Years IRA
0.40%	$500	-	2 Years IRA
0.35%	$500	-	1.5 Years IRA
0.30%	$500	-	1 Year IRA
0.25%	$500	-	3 Years - Variable 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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