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Combining to Serve You Better

Wakefield Cooperative Bank is joining forces
­with Reading Cooperative Bank.

 

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LATEST UPDATES

ANNOUNCEMENT
Expanded ATM Network Available

We're pleased to announce that all Wakefield Cooperative Bank ATMs have been added to our network....

ANNOUNCEMENT
Expanded ATM Network Available

We're pleased to announce that all Wakefield Cooperative Bank ATMs have been added to our network....

ANNOUNCEMENT
Expanded ATM Network Available

We're pleased to announce that all Wakefield Cooperative Bank ATMs have been added to our network....

Shared Vision, Shared Values

Built on the same beliefs, structure, and even the same internal technology, our two organizations can start working together faster while delivering a smooth transition for our customers. And with so much in common, Reading and Wakefield Cooperative Banks are a natural fit.

Cooperative Mission
As customer-owned banks, our structure, mission, and outlook are inherently aligned.

Growing Together
Our banks' mutual goals focus on expanding our services to continuously meet customer needs.

Community Partners
Through our expanded branch network, we can strengthen our commitment to the North Shore community.

OUR EXPANDED NETWORK

Reading Cooperative Bank and Wakefield Cooperative Bank are combining to better serve you.

Under the Reading Cooperative Bank name, Reading Cooperative Bank's current President and CEO Julieann M. Thurlow will lead the organization, with Wakefield Cooperative Bank President and CEO Jeffrey A. Worth, joining as President.

The merger is expected to be finalized late in the third quarter of 2025.

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"Nobody's going to have to learn a new account number. The hours aren't going to change. The locations aren't going to change." - Jeffrey Worth, President & CEO of Wakefield Cooperative Bank

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Frequently Asked Questions

  • Current RCB customers will not experience any changes to their accounts, but will soon gain access to all of Wakefield Cooperative Bank’s locations as a part of their banking experience.

  • As Wakefield Cooperative Bank makes the transition to join Reading Cooperative Bank’s internal systems, we are working to merge all existing Wakefield accounts into RCB’s systems along with the full transition of Wakefield's online banking and mobile banking platforms. Once this process is finalized, Wakefield customers will be notified about how they can access their RCB accounts and will gain access to all of RCB’s branch locations in addition to their current branches.
  • We can assure you that no branches will be closed as part of this merger. All existing branches will remain open, providing you with continued access to the services and staff you know and trust. While there is no current plan to change branch hours, we will certainly look at this as part of an effort to provide more efficient and convenient service to all customers at all of our combined locations.

  • Once the partnership is finalized, all accounts will be merged, allowing customers full access to all products and services at any branch location.

    Here's what you need to know:

    • Your existing account numbers will remain the same, and your debit and credit cards will continue to work as usual, with RCB cards issued over time.
    • Continue using your existing checks; when you reorder, you will receive RCB checks.
    • Withdraw funds at any RCB ATM without a fee starting May 1st. Deposits and balance checks at RCB ATMs will be available beginning in August.
    • Your statements will continue as expected but will feature Reading Cooperative Bank’s name and contact information.
    • No fees or products will change in May.
    • Start banking at any of RCB’s nine branches; full integration of services will occur on August 4th.

    All deposits will continue to be covered by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). Any customer balances above the FDIC limit are insured in full by the DIF. Since the DIF was established, no depositor has ever lost a penny at a Massachusetts savings or cooperative bank.

  • We are committed to job security and will make every effort to retain the majority of employees in their current or similar roles within the organization. Our staff’s expertise and familiarity with our customers are vital to our success. All Wakefield employees will be provided with the necessary training and resources to ensure a smooth transition and will receive every benefit available to current RCB employees.

  • This merger will create new opportunities for growth and advancement, allowing us to offer even more meaningful and innovative services to meet our customers’ needs. We aim to enhance our service offerings and provide customers with greater convenience, such as new financial products and more branch locations and ATMs!
  • Yes, with convenient mobile banking, you can access your accounts through our mobile banking app. RCB mobile banking has safe, easy-to-use features that let you manage your accounts and pay bills when you're banking on the move. (additional information can be found here).
  • There will be no changes to telephone banking or bank-by-mail services at this time; you can maintain contact with your bankers at their existing phone numbers and email addresses.
  • Both banks have a long-standing commitment to cooperative values that have guided our missions for over 100 years. We are dedicated to creating an inclusive environment that honors our traditions while prioritizing the needs of our customers and communities. All current Board Members from both banks will continue to serve on the combined Board, enabling us to collaborate on our shared goals. This merger strengthens our community presence, allowing us to focus more effectively on our combined mission than we could individually.
  • The partnership is expected to be finalized by August 4th. WCB signage will begin changing to RCB at the branches starting May 1st. Online banking remains accessible through the WCB website until August, and you can use your WCB mobile app during this period.

    Further details will be regularly communicated to customers, employees, and the community throughout the process.
  • If you have any immediate questions or concerns, please feel free to reach out via email to Julieann M. Thurlow at jthurlow@readingcoop.com or Jeffrey A. Worth at jworth@wcbbank.com.