Two Local Banks Announce Partnership
REGION (WGGB) — Two longstanding western Mass. co-operative banks have announced that they are joining forces.
In a joint statement released Tuesday, Greenfield Co-operative Bank and Northampton Cooperative Bank announced that they will join to form one cooperative bank.
Once combined, the Northampton Cooperative Bank name will continue to be used in current and future locations in Hampshire County, while the Greenfield Co-operative name will continue on in Franklin county.
As a result of the partnership, customers of each bank will be able to use branch locations and ATM’s of the other bank.
“I can’t think of a more logical and mutually beneficial combination of strengths than this partnership. Both banks are well capitalized, operate under similar charters, and are located in adjacent counties,” explains Northampton Cooperative Bank President and CEO William Stapleton, who will serve in the same capacity of the combined bank.
Bank officials add that there will be no layoffs or office closings resulting from the merger.