October 23, 2017 (HYANNIS, MA) – The Cooperative Bank of Cape Cod has been in business as a mutual community bank serving the residents of the Cape for over 95 years. Since adopting its Long-Term Strategic Plan in 2012, the Bank has continued to increase their deposit market share in Barnstable County, showing strong growth for five years in a row.
“More than ever, consumers are driving the market and have increasingly more options for banking wherever and whenever they choose,” said Lisa Oliver, President and CEO of The Cooperative Bank of Cape Cod. “We’re proud of the sustained growth we’ve achieved over the past five years. It’s encouraging to see that Cape Codders – both consumers and business owners – understand the importance of banking locally, where they know their deposits are being recycled back into the communities where they live and work.”
With the recent acquisition of Bank of Cape Cod by a larger, regional bank, there are fewer options for local banking. As one of the only banks exclusively serving Barnstable County, The Coop has successfully opened three new branches over the last four years – North Falmouth, Marstons Mills and, most recently on Worcester Court in Falmouth.
“Our focus on serving our customers and community hasn’t changed for the past 96 years,” said John Fulone, Senior Vice President and Chief Strategy and Marketing Officer. “We’re committed to offering the same products and services as the larger regional and national banks with the local touch and exceptional service Cape Codders have come to expect from The Coop.”
During a time when the number of community banks has declined over 20% in the last two decades, it’s important to see The Cooperative Bank of Cape Cod bucking that trend since community banks fund more than half of small businesses under $1 million. Since 2012, The Coop has increased its deposits by 55% – increasing its share of deposits in Barnstable County every year during that period.
“We’re dedicated to offering cutting-edge products in a highly personalized way,” said Oliver, “all while remaining a local, mutual institution that stays true to our community banking roots. We understand it’s about technology and people, not technology or people. That’s community banking…it’s what we do and why we’re here”