Our Government Banking associates have over 75 years combined experience helping Massachusetts Municipalities achieve their cash management and investment goals. They pride themselves on delivering superior hands on customer service. We offer a full range of deposit, investment and cash management products to meet all your banking needs. Our goal is to develop loyal long term relationships with our customers by providing exceptional service, competitive products and attention to detail. Subject to additional terms and conditions.

A Full Range of Products to Help You with All of Your Needs

Government Depository Account

Our Government Depository Account is designed to offer you unlimited activity, unlimited transfers in and out and to pay you a competitive rate on your money, so you will always be maximizing your revenue.

Government Money Market

Our Government Money Market is the perfect account to use along with our Business Online Banking service, to facilitate your cash management activity.

Government Investment Money Market

Our Investment Money Market provides you with a premium interest rate for stable balances of $1 million or more. We designed this product for a variety of funds:

  • Trust funds
  • Stabilization funds
  • CPA funds
  • OPEB (Other Post Employment Benefits)
  • Enterprise Funds
  • Cemetery perpetual care funds
  • Bond Receipt funds

Government Payroll and Vendor Checking Accounts

We provide full service payroll and vendor checking accounts, that pay a premium interest rate. Our Payroll and Vendor Accounts come with the following:

  • Free checks, when purchased through our vendor
  • Full reconciliation services
  • Online statements with pdf images of cleared checks, accessed through our Business Online Banking service.

Business Online Banking

Our free Business Online Banking service gives you 24-hour cash management ability. Get up-to-the-minute account information, transfer funds, and much more from any online computer. It’s safe, convenient, and completely secure. Additional terms, conditions, and fees may apply.

  • Access accounts online 24 hours a day
  • Free with any Government Banking account
  • Secure 128-bit encryption with secure Tokens
  • Review your account history
  • Review cash position, including balances, deposits, cleared checks, and other transactions
  • Transfer funds between accounts
  • Pay bills online
  • Initiate and view stop payments
  • Make loan payments
  • Control employees’ access to accounts

Remote Deposit Capture

Batch process your check deposits from the convenience of your office. Remote Deposit Capture (RDC) is a safe, convenient way to make check deposits without going to the bank.


Lockbox collects and processes payments, on behalf of your municipality, through a dedicated P.O. Box. Those funds are then deposited into your selected business or cash management account.

Concentration Account

Our product provides you with a single consolidated statement for multiple sub accounts in one easy to read format, designed specifically for:

  • Trust funds
  • Landlord/Tenant accounts
  • Performance bonds

Government Banking Team

Department Contact Information

Matt Varnum, First Vice President, Government Banking

Matt Varnum

First Vice President, Government Banking Phone: 508.568.3343 Fax: 508.568.3318 Email: mvarnum@mycapecodbank.com

Patricia Redman, Vice President, Government Banking Relationship Manager

Patricia Redman

Government Banking Relationship Manager Phone: 508.568.3481 Fax: 508.568.3318 Email: predman@mycapecodbank.com

Lisa Cusolito, Government Banking Assistant

Lisa Cusolito

Government Banking Specialist, Officer Phone: 508.568.3346 Fax: 508.568.3318 Email: lcusolito@mycapecodbank.com


The Cooperative Bank of Cape Cod Attn: Government Banking 25 Benjamin Franklin Way Hyannis, MA 02601

Wiring Instructions

The Cooperative Bank of Cape Cod 25 Benjamin Franklin Way Hyannis, MA 02601 Routing: 211371641 A/C#_____________________