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Press Release

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Reading Cooperative Bank’s Second Educational Branch Opens in Wakefield

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Reading, MA – Reading Cooperative Bank has opened its second educational branch inside the Northeast Metropolitan Regional Vocational High School (NEMT) in Wakefield. The bank’s first teaching branch was opened at Reading Memorial High School in 2008. Amy VanMagness is the Branch Supervisor and oversees the day to day operation of the branch by NEMT students. The new location is a fully functioning branch, and is open to the public. It is located outside the cafeteria, right down the hall from the Breakheart Inn (NEMT’s full service restaurant). The branch is open Monday through Friday from 8:15 a.m. to 2:00 p.m. during the school year.


The Bank is running a special promotion for new customers of the NEMT Branch, who can earn up to $100 for opening a new account. Depositors can earn $50 when they open a Personal Checking Account with Direct Deposit*, and earn an additional $50 when they setup and use Online Bill Pay*! For more information visit the branch at NEMT or readingcoop.com/50-50.


“I’m excited to be back in the branches and helping to teach the students at NEMT all about banking. The educational branch is so much more than just a bank branch and I am happy to help provide the students with real life experience that will help them reach their future goals,” says VanMagness.

About Reading Cooperative Bank:
Reading Cooperative Bank is a depositor owned co-operative founded in 1886. This community-centric North Shore financial service provider has branches in Reading, Wilmington, North Reading, Woburn, Andover, and Burlington. They also operate teaching branches at Northeast Metro Tech in Wakefield (open to the public) and at Reading Memorial High School (students and staff only), as well as an online branch at readingcoop.com.

 

*The 50/50 incentive bonus offer is available for the following eligible accounts with a $10 minimum opening deposit: Value Checking, Value NOW Checking (must maintain a minimum balance of $10 to earn Annual Percentage Yield of .01%), On-the-Go Checking, Green Online Checking, and Green On-the-Go Checking. Opening deposit must be a new money deposit (not a transfer from an existing Reading Cooperative Bank account). Customer must be the primary owner of a new RCB personal checking account and must not have any existing or previously closed personal checking account at RCB within the last 24 months prior to opening the new account. The primary owner is the owner whose Social Security Number is used for tax reporting purposes.
To receive a $50 incentive bonus for establishing Direct Deposit, you must establish a recurring electronic deposit of no less than $300 to the account and have received at least one instance of the electronic deposit within 60 calendar days of account opening. Direct Deposit includes deposits made by your employer, or a federal or state government agency or retirement benefits administrator, and generally, made by corporations or other organizations. It does not include deposits to your accounts that are made by an individual using online banking or an internet payment provider such as PayPal.
To receive a $50 incentive bonus for online bill payment you must enroll in online banking with the bill-pay feature and initiate a successful online bill payment through Reading Cooperative Bank’s online banking system or mobile banking system within 60 calendar days of account opening. Each incentive bonus will be deposited to the associated checking account within 60 days of completing the required activity associated with each incentive. Each incentive is independent of the other. You may complete one or both of the required activities. The maximum incentive bonus is $100. To receive one or both of the incentive bonuses the account must remain open for 60 calendars.
A monthly maintenance fee for On-the-Go Checking and Green On-the-Go Checking, as published in our Personal Fee Disclosure, will be imposed in each monthly statement cycle that the balance in the account falls below $100 on any day of the monthly statement cycle. A monthly maintenance fee for Value NOW Checking, as published in our Personal Fee Disclosure, will be imposed every monthly statement cycle if the balance in the account falls below $500 on any day of the monthly statement cycle or if you do not have automatic direct deposit to this account at least once per monthly statement cycle. Variable-rate Annual Percentage Yield (APY) for checking accounts that pay interest vary by account type. Rates may change at any time after the account is opened. Fees may reduce earnings.
50/50 incentive bonus amounts will be reported on Form 1099. Recipient is responsible for any taxes, fees, and associated banking fees, if any, to be paid on the incentive bonus. This offer may not be combined with any other offers. The incentive bonus is limited to one per primary account holder. Account must be in good standing at the time of payment; an account is considered to be in good standing if it has a positive balance and is not in the process of being closed. This offer may be withdrawn at any time without notice. Valid 1/1/2017 - 6/30/2017.



 

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