Winchester Co-Operative Bank

What Winchester Co-Operative Bank does

Winchester Co-Operative Bank is a mutually owned, state-chartered cooperative bank founded in 1893 and headquartered at 19 Church Street in Winchester, Massachusetts. The bank serves individuals, families, and small-to-medium businesses primarily in Winchester, Woburn, and approximately 16 surrounding Massachusetts communities (its CRA Assessment Area), operating two full-service branches plus a dedicated mortgage center. As a community bank, its core business is gathering deposits and originating loans — primarily residential mortgages (fixed-rate and ARM products), commercial real estate loans, and consumer loans (auto, personal, home equity). Total assets stood at $868.4M and deposits at $700.5M as of April 30, 2025, with net loans receivable of $637.5M.

The bank operates a standard community banking technology stack with no proprietary platform components disclosed: web-based online banking, iOS and Android mobile banking applications (with mobile check deposit up to $2,500/day), and 24/7 telephone banking. It has integrated third-party payment and identity services including Zelle (peer-to-peer payments), Apple Pay, Google Pay, Mastercard debit, and the MoneyPass and SUM surcharge-free ATM networks, along with a Quicken integration for business account management. Security infrastructure is supported by an in-house Information Security Officer (SVP). The bank holds full deposit insurance through FDIC combined with the Depositors Insurance Fund (DIF), providing 100% deposit coverage with no maximum account limitations.

Winchester Co-Operative Bank generates revenue primarily through net interest income on its $637.5M loan portfolio funded by $700.5M in deposits, supplemented by fee-based services (NSF fees at $15, stop payments at $12, domestic wire transfers at $15, foreign wires at $30, safe deposit box fees) and mortgage origination fees. Loan and deposit pricing is publicly disclosed on the bank's website, with 30-year fixed-rate mortgages at 6.250% and 6-month term deposit certificates at 3.90% APY (effective July 2026). The bank's cooperative ownership structure means it is owned by its depositors/members rather than external shareholders, with $104.1M in retained earnings and no parent company, venture backing, or public listing. Go-to-market is community-led, direct-to-consumer, and relationship-based, supported by local sponsorships, a CRA-aligned community reinvestment posture, and a planned July 2026 leadership transition elevating Steven Stewart from Chief Lending Officer to President while Mark Kellett remains CEO.

Name

Winchester Co-Operative Bank

Legal name

Winchester Co-operative Bank

Website

https://wcbonline.com

Company type

Private

Founded year

1893

Operating status

Operating

Headcount range

11–50 employees

Short description

Winchester Co-Operative Bank is a mutually owned community bank founded in 1893, serving individuals, families, and small businesses in Winchester, Woburn, and 16 surrounding Massachusetts communities through deposit accounts, residential and commercial mortgage lending, and digital banking channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Winchester

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Primary revenue from interest rate spreads between loans originated (mortgages, commercial loans, auto loans, personal loans) and deposits held. Fixed and adjustable rate mortgages generate long-term interest income.
2. Mortgage Lending: Residential and commercial mortgage origination including ARMs and fixed-rate products with rates ranging from 5.375% to 6.250% as of June 2026
3. Deposit Services: Deposit gathering through checking, savings, money market, and term deposit certificate accounts. Total deposits of $700,467,050 as of April 2025
4. Fee-based Services: Account service fees including NSF fees ($15), stop payments ($12), wire transfers (domestic $15, foreign $30), safe deposit boxes, and account research

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Winchester Co-operative Bank is a mutually owned, state-chartered cooperative bank that provides traditional community banking services including consumer deposit accounts (checking, savings, money market, term deposit certificates, IRAs), residential and commercial mortgage lending, home equity lines and loans, consumer auto and personal loans, commercial real estate financing, and small business banking products. Distribution occurs through two full-service Massachusetts branches (Winchester and Woburn), a mortgage center, online and mobile banking platforms, Zelle integration, and 24/7 telephone banking.

Product overview

Winchester Co-operative Bank offers a comprehensive suite of traditional banking products and services for both consumers and businesses. The consumer banking lineup centers on deposit accounts (checking, savings, term certificates, and IRAs), mortgage lending (fixed-rate, adjustable-rate, construction, and home equity products), and personal lending (auto and unsecured loans). Business banking encompasses commercial real estate financing, business deposit accounts, and account management tools including Remote Deposit Capture and mobile deposits. The bank provides digital banking through online and mobile platforms with Zelle integration, supplemented by traditional services like wire transfers, telephone banking, and notary services. Community lending programs partner with Federal Home Loan Bank of Boston and Massachusetts Housing Partnership to provide first-time homebuyer assistance and affordable housing support.

Differentiator

Problem solved

Functional benefit

Products and services

• Co-operative Checking Account Interest-earning personal checking account with no monthly maintenance fee and no minimum balance requirement, featuring online and mobile banking access for individual consumers.
• Statement Savings Account Basic personal savings account with no monthly maintenance fee that earns interest on daily balances of $10 or more.
• Co-operative Select Savings Account Tiered-rate personal savings account offering competitive interest rates on higher balances, with $12 monthly maintenance fee waived when $1,000 minimum daily balance is maintained.
• Club Savings Account Goal-based personal savings account designed for saving toward specific purposes such as vacations or holiday expenses.
• Term Deposit Certificate (TDC) Fixed-rate, fixed-term personal savings certificate with guaranteed returns and $500 minimum deposit, subject to early withdrawal penalties.
• Traditional IRA Tax-advantaged personal retirement account accepting pre-tax contributions that are taxed upon withdrawal.
• Roth IRA Tax-advantaged personal retirement account accepting post-tax contributions allowing tax-free qualified withdrawals in retirement.
• Rollover IRA Personal retirement account for consolidating funds from previous employer plans such as 401(k)s while maintaining tax-deferred status.
• SEP IRA Personal retirement account designed for self-employed individuals with higher contribution limits than standard IRAs.
• Fixed Rate Mortgage Residential mortgage with locked interest rate for the entire loan term providing payment stability, available in 10, 15, 20, and 30-year terms for owner-occupied 1-4 family residences.
• Adjustable Rate Mortgage (ARM) Residential mortgage with an initial fixed-rate period followed by rate adjustments based on market conditions, available in 3/3, 5/5, and 7/5 ARM configurations.
• Construction-to-Permanent Loan Single residential loan covering both lot purchase and construction costs that converts to permanent financing upon completion of construction.
• Land Loan Residential financing option for purchasing land before building construction begins.
• First-Time Homebuyer Program Special residential mortgage program with no application fee and reduced closing costs designed to help first-time buyers achieve homeownership.
• Home Equity Line of Credit (HELOC) Revolving personal credit line secured by home equity with variable interest rate, no closing costs, and flexible borrowing access.
• Home Equity Loan Lump-sum personal loan secured by home equity with locked interest rate for initial 3 or 5 years, repayable over up to 30 years.
• Auto Loan Personal financing for new or used vehicle purchases with flexible loan terms.
• Personal Loan Unsecured personal loan up to $7,500 for major purchases or debt consolidation without requiring home equity as collateral.
• Secured Personal Loan Personal loan secured by collateral such as a savings account, offering potentially lower interest rates than unsecured personal loans.
• Personal Debit Card Mastercard debit card for personal purchases and ATM withdrawals with card control features including on/off switching and spending limits.
• Online Banking Web-based personal banking platform for account management, bill payment, fund transfers, and account opening for existing customers.
• Mobile Banking Smartphone application providing personal account access, mobile check deposits up to $2,500 daily, bill payment, and card controls on iOS and Android.
• Zelle Peer-to-peer payment service integrated into online and mobile banking for fast money transfers between enrolled bank accounts.
• Wire Transfer Service Electronic money transfer service for secure domestic and international wire transactions ($15 domestic, $30 foreign).
• Telephone Banking 24/7 automated phone banking service at 1-877-WCB-BANK for account information, balance inquiries, transfers, and loan payments.
• Business Checking Account Business checking account with no transaction fees and $12 monthly maintenance fee waived with $1,000 daily balance, for local business owners.
• Business Money Market Account Tiered-rate business money market account offering higher rates on higher balances with 6 free withdrawals per month and $5,000 minimum opening balance.
• Business Savings Account Business savings account with no monthly maintenance fee, no minimum balance requirement, and automated transfer options.
• Business Term Deposit Certificate (TDC) Fixed-rate business certificate with terms ranging from 91 days to 36 months for business deposit customers.
• SEP IRA for Business Simplified Employee Pension IRA for business owners offering tax-deductible contributions for retirement savings.
• Commercial Real Estate Loan Financing for purchasing, refinancing, or renovating commercial properties for business borrowers.
• Commercial Construction Loan Single commercial loan covering both commercial building construction and land purchase.
• Commercial Real Estate Line of Credit Revolving business credit line secured by existing commercial real estate equity for business growth funding.
• Commercial Line of Credit Flexible business credit line for managing cash flow and operational expenses for commercial borrowers.
• Commercial Auto Loan Financing for commercial vehicle purchases for business customers.
• Business Debit Card Mastercard business debit card with spending controls and ATM access through MoneyPass and SUM surcharge-free networks.
• Remote Deposit Capture Desktop check scanning device enabling businesses to deposit multiple checks electronically from their office.
• Mobile Check Deposit Mobile banking feature allowing businesses to deposit individual checks by photographing them through the mobile app.
• ACH Transfers Electronic funds transfer service for sending and receiving business payments through the ACH network.

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature1 record

Partnerships

Five partnerships are on record, tiered core.

• Early Warning Services, LLC (Zelle)coreTechnology or Integration · 31 March 2025Partnership with Zelle to provide fast, secure peer-to-peer payment services integrated directly into WCB's online and mobile banking platforms. Available to both consumer and small business customers with no fees charged by the bank.
• Federal Home Loan Bank of BostoncoreStrategic or Co-development PartnerPartnership to offer Equity Builder Program (EBP) and Housing Our Workforce (HOW) grants. EBP provides grants up to 80% area median income for downpayment, closing costs, and rehabilitation. HOW assists buyers earning 80%-120% AMI with downpayment assistance.
• Massachusetts Housing Partnership (MHP)coreStrategic or Co-development PartnerPartnership to offer ONE Mortgage Program, a state-backed program helping low to moderate-income first-time homebuyers achieve homeownership through affordable financing options.
• Depositors Insurance Fund (DIF)coreOthersDIF provides supplementary deposit insurance coverage for all deposits above FDIC limits. Since DIF began insuring deposits in 1934, no depositor has ever lost a penny in a bank insured by both FDIC and DIF.
• Federal Deposit Insurance Corporation (FDIC)coreOthersFDIC insures each depositor up to at least $250,000. Combined with DIF coverage, all deposits at Winchester Co-operative Bank are insured in full.

Scale indicators7 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• East Boston Savings Bank: Mutually owned Massachusetts savings bank offering deposit accounts, residential mortgages, and consumer lending to individuals and small businesses — directly comparable in ownership structure, product mix, and Massachusetts geographic focus.
• Reading Cooperative Bank: Mutually owned Massachusetts cooperative bank serving Reading and surrounding communities with deposits, mortgages, and small business lending — nearly identical operating model to Winchester Co-operative Bank, including cooperative ownership and local decision-making.
• Salem Five Bank: Mutually owned savings bank headquartered in Salem, MA with comparable deposit, mortgage, and business banking products across North Shore communities — closely comparable mutual structure and product breadth.
• Institution for Savings: Mutually owned Massachusetts savings institution serving Cape Ann and surrounding communities with personal and business banking products — highly comparable mutual ownership and community banking model.
• Century Bank: Massachusetts community bank serving greater Boston / MetroWest with personal, business, and commercial real estate lending — comparable deposit-gathering community bank focused on local lending relationships.
• Brookline Bank: Massachusetts community bank providing deposit, mortgage, and commercial lending products to individuals and businesses in Greater Boston — comparable deposit-funded community banking franchise.
• North Shore Bank: Mutually owned Massachusetts savings bank serving the North Shore with deposits, mortgages, and consumer loans — directly comparable mutual structure and community banking footprint.
• BankHometown: Massachusetts-based community bank serving central Massachusetts with consumer and business banking products — comparable small-scale, community-focused mutual banking model.

Broad incumbents

• Cambridge Savings Bank: Massachusetts-based mutually owned savings bank with a broader product set including wealth management and treasury services — operates as a larger incumbent in the same Massachusetts community banking space.
• Rockland Trust (Eastern Bankshares): Massachusetts community bank with a much larger branch network and broader commercial banking capabilities — competes for the same small business and consumer customers across eastern Massachusetts but at significantly greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/wcbhome
• LinkedInlinkedin.com/company/winchester-co-operative-bank
• Instagraminstagram.com/winchestercooperativebank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Winchester Co-Operative Bank