• History
• Hours & Directions
• Numbers you should know
• Community Links
• Deposit Insurance
• Privacy & Security

Our History & Mission
In October 1927, the Commonwealth Co-operative bank was founded by state employees to promote thrift and home ownership. The first office was just a room in the State House. The bank occupied various rooms in the State House until 1941 as World War II began. The Bank relocated to 73 Tremont Street and remained at that location until 1987, when we moved to our current office at 2 Center Plaza in the Government Center in Boston.

Today at least 75% of our depositors and borrowers are state workers, or friends and family of state workers. They are colleagues and friends and have been loyal to the Bank over the years.

Our mission today is reminiscent of our original charter statement. We offer various savings and loan products. We are helping to finance the “American Dream,” as we did years ago.

We are a mutual bank and, therefore, not for sale, so our customers know that they will not become customers of another bank involuntarily. Our mortgage loans are not for sale either!

We are very proud of the personal, financial customer service that we offer, which sets us apart from the mega-commercial banks in our city. Our middle name is co-operative, and we never forget that when dealing with our valued shareholders and the general public.

Your Deposits are Insured in Full!
At Commonwealth Co-operative Bank, every deposit is insured in full. The Federal Deposit Insurance Corporation (FDIC) insures each depositor for $100,000. The Share Insurance Fund of Massachusetts (SIF) of the Co-operative Central Bank insures all deposits in excess of this amount. No one provides better deposit protection.

Make the Commonwealth connection!
For more information about Commonwealth Co-operative Bank please visit our office, call (617) 227-2298 or complete our information request form.