Reading Cooperative Bank

Reading Cooperative Bank is a community bank listed with the Melrose Chamber of Commerce, part of a network of local branches. The bank describes its mission simply as banking for all, and it offers savings products such as certificates of deposit, with banking specialists who can also help with loans and financial planning. Its name reflects its structure as a cooperative bank, and it says it keeps things local by showing up for its communities every day.

Banking on community since 1886, RCB puts much of its identity into local giving. The Reading Cooperative Charitable Foundation funds dozens of area organizations each year, with recipients voted on by customers, and past grants have gone to scholarships, hospitals and environmental causes. Bank employees also lead free financial literacy lessons for K-12 classrooms and civic groups, and the bank offers seminars on recognizing and preventing elder financial exploitation.

What to Know

• Deposits are FDIC insured to at least $250,000, and the Depositors Insurance Fund insures all additional deposits.
• The Bank@Home program sends traveling banking specialists to senior living facilities for deposits, withdrawals and other help.
• Nonprofits can request free event promotion on in-branch TV screens and the bank’s social media accounts.
• Charities can ask for free cases of RCB-branded water bottles to resell or hand out at fundraisers.