The Cooperative Bank

What The Cooperative Bank does

The Cooperative Bank is a privately held, community-chartered bank headquartered at 40 Belgrade Avenue in Roslindale, Massachusetts, founded in 1898 as Roslindale Cooperative Bank. It operates four physical branches across the Boston neighborhoods of Roslindale, West Roxbury, Charlestown, and Jamaica Plain, and serves individual consumers, small-to-medium businesses, and first-time homebuyers in the Greater Boston area. The bank offers a full suite of personal and business banking products: deposit products (Regular Checking, eLife Checking, Student Life Checking, Statement Savings, eLife Savings, Money Market, and CDs), lending products (fixed-rate and adjustable-rate mortgages, home equity loans and HELOCs, community-lending programs through MassHousing and MHP ONE Mortgage, and commercial loans/lines of credit including SBA 7(a) and 504), and fee-generating services such as cash management (ACH origination, Remote Deposit Capture, wire transfer, sweeps, QuickBooks integration) and merchant services (via Payroc). Wealth management is delivered in-branch through Osaic Institutions. Digital channels include a TCB Online business banking platform, the TCB Card Controls mobile app, Cooper ITM video teller machines, and the Carefull account-monitoring service, with core infrastructure largely provided by third-party vendors (Mantl for account opening, Secure My Virtual Branch for online banking, Sophos for cybersecurity). Revenue is generated primarily through net interest margin on deposits and loans, supplemented by account maintenance, ATM, wire, overdraft, and merchant service fees. The bank operates on a hybrid GTM model: branch-based relationship banking supported by direct commercial lenders, a digital self-serve channel, and community-event-based top-of-funnel marketing targeting Boston neighborhoods. Ownership is cooperative with no disclosed parent, private equity, or public-market participation.

Name

The Cooperative Bank

Legal name

The Cooperative Bank

Website

https://thecooperativebank.com

Company type

Private

Founded year

1898

Operating status

Operating

Headcount range

11–50 employees

Short description

The Cooperative Bank is a privately held community bank founded in 1898, operating four branches across Greater Boston (Roslindale, West Roxbury, Charlestown, Jamaica Plain) to provide personal and business banking, mortgages, cash management, and wealth services to local consumers and SMBs.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Community banking services
• Retail deposit accounts
• Residential mortgage lending
• Commercial lending products
• Small business banking

Headquarters

HQ city

Roslindale

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Deposit-Taking and Lending: The Cooperative Bank generates revenue primarily through accepting deposits from retail and business customers and lending those funds through mortgages, commercial loans, and consumer credit products. Interest rate spreads between loan origination and deposit rates form the core revenue stream.
2. Fee-Based Services: The bank generates ancillary revenue through account maintenance fees, ATM fees, wire transfer fees, overdraft fees, and various service charges on both personal and business accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

The Cooperative Bank is a community bank that accepts deposits and originates loans for individuals and small-to-medium businesses in the Greater Boston area. Its offerings span personal checking, savings, money market, and CD accounts; residential mortgages and home equity products; community lending programs for first-time homebuyers; and business deposit accounts, commercial loans, SBA lending, cash management, merchant services, wealth management, and personal/business credit cards.

Product overview

The Cooperative Bank is a community bank headquartered in Boston, Massachusetts, offering a comprehensive suite of personal and business banking products and services. The bank's personal banking offerings center on deposit accounts (Regular Checking, eLife Checking, Student Life Checking, Statement Savings, eLife Savings, CDs, and Money Market accounts) and lending products (Fixed-Rate and Adjustable-Rate Mortgages, Home Equity Loans, HELOCs, and Community Lending programs). Business banking includes Business Checking, Commercial Checking, Business Premier Money Market, Commercial Lending, and Business Credit Cards. These core products are supported by value-added services including Cash Management (with ACH, wire transfer, Remote Deposit Capture, and Merchant Services via Payroc), Wealth Management (through Osaic Institutions), Mobile and Online Banking, TCB Card Controls, Business Banking Online, Cooper ITM, Carefull fraud monitoring, and personal/Business Credit Cards issued via Elan Financial Services. The bank operates primarily in the Greater Boston area through four branch locations.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Checking Standard personal checking account with no minimum balance requirement, no monthly maintenance fee, surcharge-free ATM access at MoneyPass Network ATMs, unlimited check writing, free online banking with bill pay, and a MasterCard debit/ATM card. Target customers: individual retail consumers in the Greater Boston area.
• Statement Savings Personal savings account offering immediate access to funds via TCB ATM card, interest earned on balances over $10, and a $3 monthly maintenance fee waived with a minimum daily balance of $100 or for account holders under 18 or over 65. Target customers: individual retail consumers.
• eLife Checking Digital-focused personal checking account with direct deposit and eStatements required to waive the $10 monthly maintenance fee. Includes MasterCard debit/ATM card with unlimited ATM surcharge rebate. Target customers: digital-first individual consumers.
• Student Life Checking Checking account designed for students ages 14-26 attending high school or college. Requires eStatements and offers up to $12/month in ATM surcharge fee rebates and 10 free checks monthly. Target customers: high school and college students.
• eLife Savings Companion savings account linked to eLife Checking or Student Life Checking that earns premium interest rates on balances up to $2,000 and competitive rates on amounts over $2,000. Target customers: digital-first and student banking customers.
• Certificates of Deposit (CDs) Low-risk savings tool that accrues interest on deposited funds over a fixed term, with various term options including an 8-Month Special promotion. Target customers: individual retail consumers seeking term deposits.
• TCB Premier Money Market Money market account requiring a $2,500 minimum balance to earn interest and waive the monthly maintenance fee, with tiered rates that increase as the account balance grows. Target customers: individual consumers seeking higher-yield deposit products.
• Relationship Checking Personal checking account that rewards customers for their total relationship with TCB, offering preferred rates on CDs and IRAs when combined daily balances reach $5,000 across checking, savings, CDs, IRAs, money market accounts, home equity loans, home equity lines of credit, or residential mortgages. Target customers: high-balance individual customers with multi-product relationships.
• Business Checking Small business checking account with no monthly maintenance fee, 400 free transactions per month ($0.50 per transaction thereafter), free online banking with bill payment, and a TCB Business Debit Mastercard. Target customers: small businesses in the Greater Boston area.
• Commercial Checking Business checking account for larger businesses featuring a $10 monthly maintenance fee offset by earnings credit, with additional services including Remote Deposit Capture, ACH Origination, Wire Transfer, and Sweeps. Target customers: larger businesses with higher transaction volumes.
• TCB Business Premier Money Market Business money market account with tiered rates on balances, requiring a $2,500 minimum daily balance to waive the $10 monthly maintenance fee. Maximum opening balance of $1,000,000. Target customers: businesses seeking higher-yield operating cash management.
• Fixed-Rate Mortgages Traditional mortgage with an interest rate that remains constant for the entire loan term, providing predictable monthly payments of principal and interest. Target customers: residential homebuyers seeking payment stability.
• Adjustable-Rate Mortgages Mortgage product with periodic interest rate adjustments, with first adjustment occurring in five, seven, or ten years, suitable for borrowers planning to live in their home for a limited time or expecting income growth. Target customers: residential homebuyers with shorter holding periods.
• Home Equity Loans One-time lump-sum loan using home equity as collateral for purposes including home improvements, tuition, debt consolidation, or other financial needs, with fixed interest rates and set repayment terms. Target customers: residential homeowners seeking fixed-rate borrowing against home equity.
• Home Equity Lines of Credit (HELOC) Revolving credit line secured by home equity that allows borrowing up to an approved limit with interest charged only on amounts drawn, functioning similarly to a credit card but typically with lower rates. Target customers: residential homeowners seeking flexible revolving borrowing.
• Community Lending Affordable mortgage programs for first-time homebuyers, including MassHousing programs and MHP ONE Mortgage, offering competitive fixed rates, down payment assistance, and no hidden fees. Target customers: first-time homebuyers in the Massachusetts area.
• Commercial Lending Comprehensive commercial financing including commercial loans, lines of credit, equipment term loans, commercial real estate mortgages, and SBA 7(a) and 504 products to support business growth and operations. Target customers: small and medium businesses in the Boston area.
• Cash Management Business banking solution offering Business Online Banking, Remote Deposit Capture, ACH Origination, Wire Transfer, Merchant Services through Payroc, Mobile Banking, Sweep Accounts, Business Bill Pay, Business Debit Cards, Zero Balance Accounts, and Business Credit Cards. Target customers: business banking customers needing integrated cash and payment management.
• Wealth Management Comprehensive wealth management services provided through Osaic Institutions, including investment management with customized portfolio strategies, financial planning (retirement, estate, tax-efficient approaches, education funding), and retirement planning (401(k) rollovers, IRA/Roth IRA guidance, Social Security optimization). Target customers: individual consumers seeking investment and retirement planning.
• TCB Card Controls Mobile application enabling users to turn cards on/off, set transaction controls for dollar amount limits, merchant categories, and geographic locations, receive real-time alerts for card usage, monitor for potential fraud, and view account balances. Target customers: debit and credit cardholders.
• Mobile and Online Banking Digital banking platform providing real-time transaction reporting, funds transfer, bill payment, text alerts, branch and ATM locator, TCB Money Manager, and mobile banking with check deposit capabilities. Target customers: individual retail banking customers.
• Business Banking Online Online banking platform for business customers offering real-time transaction reporting, funds transfer, bill payment, Remote Deposit Capture, statements with check images, text alerts, stop payments, branch and ATM locator, QuickBooks integration, TCB Money Manager, and full cash management services. Target customers: business banking customers.
• Cooper ITM Interactive Teller Machine (ITM) service providing 24/7 access to banking services with video conferencing capability to connect with bank representatives. Target customers: retail and business banking customers.
• Carefull Account monitoring service that provides 24/7 surveillance of financial accounts to identify unusual activity and potential fraud. Target customers: retail and business banking customers.
• Credit Cards Personal credit card products issued through Elan Financial Services with various options for low introductory rates, cash back, rewards, and credit building, featuring zero fraud liability, 24/7 cardmember service, and mobile purchasing capability. Target customers: individual consumers.
• Business Credit Cards Business credit cards offered with options including low rates, cash back, and flexible rewards, featuring free online expense reporting, no fee for additional employee cards, and mobile payment capability. Target customers: small and medium businesses.
• Veteran Banking Specialized banking products and services tailored for military veterans, offered as part of the personal banking suite. Target customers: military veterans.

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Seven partnerships are on record, tiered core.

• PayroccoreTechnology or IntegrationPayroc provides merchant services allowing The Cooperative Bank to offer payment processing solutions to business customers. Payroc's RewardPay enables businesses to accept payments anywhere through point-of-sale systems, payment terminals, gateways, eCommerce solutions, and payroll services.
• Osaic InstitutionscoreStrategic or Co-development PartnerOsaic Institutions provides investment management and wealth management services through Al Smith, Financial Advisor, who operates from The Cooperative Bank locations. Products include investment management, retirement planning, 401(k) rollovers, IRA and Roth IRA guidance, and financial planning.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services is the creditor and issuer of The Cooperative Bank's credit card products, providing card processing, zero fraud liability protection, and 24/7 cardmember service.
• MassHousingcoreStrategic or Co-development PartnerThe Cooperative Bank is a participating lender offering MassHousing mortgage programs for first-time homebuyers and qualifying borrowers, including below-market rates and flexible financing options.
• Massachusetts Affordable Housing Alliance (MAHA)coreStrategic or Co-development PartnerRenee Owens, VP of Community Lending, serves on the lending committee for MAHA, partnering to provide first-time homebuyer mortgage products and educational programs.
• MHP (Massachusetts Housing Partnership)coreStrategic or Co-development PartnerThe bank offers MHP ONE Mortgage program as part of its first-time homebuyer product suite, providing affordable financing options for qualifying borrowers.
• Visa U.S.A. Inc.coreTechnology or IntegrationCredit cards are issued pursuant to a license from Visa U.S.A. Inc., enabling The Cooperative Bank to offer Visa-branded debit and credit cards to customers.

Scale indicators2 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Brookline Bank: Bay State Community Bank subsidiary offering personal and business banking across Greater Boston. Comparable product mix (checking, savings, mortgages, commercial lending, cash management) and similar SMB/community focus.
• Salem Five Bank: Mutual community bank serving the North Shore and Greater Boston with personal and business banking. Comparable cooperative-style ownership, multi-branch footprint, and product set spanning mortgages, commercial loans, and wealth management.
• Cambridge Savings Bank: Mutual savings bank serving Cambridge, Greater Boston, and surrounding communities with consumer and commercial banking. Similar community-bank model, comparable deposit and lending products, and overlapping SMB customer base.
• East Boston Savings Bank: Massachusetts-chartered community bank serving Boston-area consumers and SMBs with comparable deposit, mortgage, and commercial lending products. Operates a multi-branch footprint across Greater Boston neighborhoods in the same competitive set as TCB.
• Century Bank: Massachusetts-chartered community bank with strong Boston commercial lending focus, particularly CRE and SBA. Competes directly with TCB for SMB and middle-market commercial customers in the same metro.
• Reading Cooperative Bank: Massachusetts cooperative bank serving Reading and surrounding North Shore communities. Closest structural match to TCB — cooperative ownership model, comparable consumer/business product suite, and similar community-bank scale.

Broad incumbents

• Citizens Bank: Large regional bank with deep New England presence and full product suite spanning consumer, mortgage, commercial, and wealth management. Sets the competitive pricing floor TCB must match and exceeds TCB's product breadth and digital capabilities.
• Rockland Trust: Independent Bank Corp subsidiary and the largest Massachusetts-headquartered community bank. Competes with TCB across consumer, mortgage, and commercial banking but at materially greater scale and geographic reach.

Regional players

• Middlesex Savings Bank: Mutual savings bank headquartered in Natick serving MetroWest Boston suburbs. Overlapping consumer and SMB banking products with TCB but operating primarily in suburban Middlesex County rather than Boston proper.
• Needham Bank: Massachusetts community bank serving Needham and surrounding communities with personal, business, and wealth management services. Comparable product mix but different geographic focus than TCB's Boston neighborhoods.

Market position

Strengths4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/tcb_boston
• Facebookfacebook.com/TheCooperativeBank

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 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 The Cooperative Bank