GREENFIELD, Mass. (WWLP) – Two local bank chains are becoming one company, but both banks’ names will survive. Greenfield Cooperative Bank and Northampton Cooperative Bank announced Wednesday that they have completed a merger to form a combined bank with 10 branch offices.
The bank will operate under Greenfield Cooperative Bank’s charter, but the Northampton Cooperative Bank name will remain in use at their four Hampshire County branches, located in Northampton and Amherst. The six branches in Franklin County, located in Greenfield, Northfield, Shelburne Falls, Turners Falls, and Sunderland, will continue to operate as Greenfield Cooperative Bank.
Bank CEO Michael Tucker told 22News that the merger will mean more convenience for customers. They will be expanding their commercial lending and investment services departments, and will start offering mobile banking and e-check deposits to Northampton Bank customers by the end of April. The merger will not trigger any layoffs of their 98 employees.
“We don’t have stockholders, so we try and do more for our customers and for our community. We focus on our people, and they did as well, and putting the customer first. You can still walk into this office and see me without having to go through lots of different people to get to me,” Tucker said.
Northampton Cooperative Bank customers will soon receive a mailing to explain products and services being offered by the new bank.
The merger has been in the works since June of last year, but it had to first meet regulatory approval. Both banks have been serving their communities for more than 100 years.