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| Additional information |
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| The Community Bank |
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History:
The Community Bank was organized on September 21, 1877 as the Campello Cooperative Savings Fund and Loan Association, and chartered by the Commonwealth of Massachusetts on October 3, 1877. The name was subsequently changed to Campello Co-operative Bank. It was the fourth such organization in Massachusetts, and, as of today, is the oldest continuously operating bank in Brockton.
The primary function of cooperative banks when they were established, and it holds true today, is to promote home ownership by means of loans and regular savings. Saving was encouraged by way of a unique type of deposit account, namely serial shares. Each share required a monthly deposit of one dollar. When the combination of deposits and interest reached two hundred dollars, the shares were considered to have matured. Over the years, with changes in regulations, the Bank has become more diversified, now offering a variety of deposit accounts.
The first officers were: Albert Keith, President; Daniel Dunbar, Vice President; Warren T. Copeland, Secretary; and Ziba C. Keith, Treasurer. Forty-three well-known Brocktonians made up the list of charter members.
The bank began as just a desk in Ziba Keith's store in the Keith Block on Main Street just south of Perkins Avenue, where it remained from 1877 to 1883. At that time, an office was rented in the Goodall Block at 1083 Main Street. Having outgrown that facility by 1889, a room was acquired on the second floor of the Franklin Block at 1106 Main Street, where the bank continued to conduct business until 1949.
The bank purchased the property next door to the Franklin Block in 1948. A new building was constructed on the property and the bank opened for business in the new quarters at 1090 Main Street on November 7, 1949. In 1962, a large addition was constructed; and in 1986, the interior was completely renovated.
The first branch office of Campello Co-operative was opened at 728 Crescent Street in 1975. This office was moved to 694 Crescent Street in 1988 to allow for the addition of a drive-up window. In 1988, the Bank also opened its second branch office, located in Michael's Plaza, 1280 Belmont Street.
On May 1, 1995, Campello Co-operative Bank was reorganized into a mutual holding company, Campello Bancorp. Also, on that date, a new Massachusetts stock cooperative bank was chartered, The Community Bank, A Massachusetts Co-operative Bank, which acquired the assets and liabilities, the Board of Directors, Officers and staff of the former Campello Co-operative Bank. The Community Bank is a subsidiary of Campello Bancorp.
During 1999, the Bank attained several objectives in the expansion of the Bank: the 694 Crescent Street location moved to a new facility at 276 Quincy Street; the first full-service branch was opened on Cape Cod at 337 Cotuit Road in Sandwich; a new branch, also home to our Business Center, was opened at 110 Main Street in Bridgewater; the branch at 1280 Belmont Street moved across the street to the new corporate office opened at 1265 Belmont Street, making a total of five locations. A sixth branch was opened in the summer of 2005 on Route 105 in Lakeville.
In August of 2001, The Community Bank formed a partnership with Infinex Investments, Inc. to create Windstream Investments, a division of The Community Bank. The formation of Windstream provides Bank customers with a full range of investment options.
In May of 2005, The Community Bank entered into a partnership with McCormick & Sons Insurance Agency, Inc. Through McCormick Insurance, the Bank can provide customers with a comprehensive line of insurance for both individuals and businesses.
The Falmouth and Hyannis Business Resource Centers were opened in February and October (respectively) of 2006 with a new concept in mind. The Centers offer a complete range of banking services much like a full service branch, however, they were established to target small businesses on the Cape. To date, the Bank is continually growing with eight branch locations.
Over the years the Bank has seen many changes in leadership, facilities, products and services, but the primary purpose has remained constant -- to meet the financial needs of the community in which the Bank resides and draws its life.
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