Reading Cooperative Bank

Reading Cooperative Bank is a community bank that has operated as a cooperative since 1886, meaning customers share in owning the bank. It offers savings options such as certificates of deposit, and its traveling banking specialists can also help with loans and financial planning. The bank frames its mission as banking for all and puts people over profits, describing itself as a community rather than an institution.

Community involvement is central. The Reading Cooperative Charitable Foundation supports dozens of local organizations each year, chosen with customer votes, from scholarships to hospitals and environmental causes. Bank@Home sends traveling banking specialists to senior living facilities, and Bank@Work brings deposits, loans and financial planning to workplaces. Employees give free financial literacy lessons to K-12 classrooms and civic groups and offer seminars on preventing elder financial exploitation.

What to Know

• The bank has announced a proposed closure of its Burlington branch.
• A community room at its Lawrence branch can be reserved free of charge for meetings and events.
• Local charities can request free event advertising and cases of branded water bottles.
• Deposits are FDIC insured, with additional deposits covered by the DIF.