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Northampton Co-operative Bank

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Northampton Co-operative Bank

History:

Northampton Cooperative Bank has been investing in the community for over a hundred years.

Northampton Cooperative Bank is a truly local bank, dedicated to providing loans and affordable banking services to the Hampshire County communities we serve. Staffed by knowledgeable, friendly people, we're here to answer your banking questions, and help guide you to the services you need.

Our customers get preferential treatment. And donuts.

Our reputation is built upon the exceptional customer service we provide. And the donuts, of course. We serve free donuts - and sometimes, seasonal refreshments - on Mondays and Fridays, in all of our offices. It's just one way we show our appreciation to you for banking with us.

A tradition of local banking.

The Northampton Cooperative Bank is a state-chartered mutual bank insured by the FDIC and the Shareholders Insurance Fund (SIF) of the Co-operative Central Bank of Massachusetts, regulated by the Federal Reserve Bank of Boston. Northampton Cooperative Bank was formed in 1889 by a small group of local businessmen to "promote the public convenience and advantage," with E.C. Davis serving as the first president. The bank's starting assets were $11,200.

Safe and secure banking.

Louis Campbell served as president of the bank from 1920 until his retirement in 1954 at 93 years of age. Assets in 1945 reached $4.8 million. Harold Beastall served as president from 1954 to 1969, when James Ross was named president. Deposits were insured solely by the Co-operative Central Bank until 1952, when the commissioner of banks insisted that all state-chartered banks be insured by the FDIC.

Adding convenience for our customers.

By 1980 the bank had total assets of $30 million. Jack Stedman served as president from 1982 until 1996 when bank assets climbed to $62 million, and the board installed William Stapleton as president. In that year, the bank installed ATMs in Amherst and Northampton and renovated and enlarged the Amherst office. By December 2000, bank assets exceeded $100 million. The bank introduced Internet banking and electronic bill pay services in February 2000, and opened a new Northampton branch in October of that year.

Northampton Cooperative Bank is stable and strong.

By 2002, bank assets attained $125 million. Bank loan originations exceeded $40 million in the 2002-2003 fiscal year. In 2006, the bank built and opened a new Florence branch and received an award for architectural sensitivity from the neighborhood association in Florence. In 2008 bank assets reached $150 million. In 2010, the bank opened a second Amherst location. Still committed to providing convenient, affordable banking services, and prudent loans to local individuals and businesses throughout Hampshire County, Northampton Cooperative Bank's financial condition remains strong.

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