Mechanics Cooperative Bank | "Let's Keep It Local"

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"Let's Keep It Local"

Presidents Message:

As President and CEO of Mechanics Cooperative Bank, I would like to thank you for visiting
our web site and "Let's Keep it Local" page. Mechanics Cooperative Bank and all of our
employees truly believe in that statement, and philosophy.

The banking industry has changed as a result of the most recent economic downturn. As a result, this has provided community banks the opportunity to reconnect with local customers, and
local businesses - and we are very excited for that opportunity.

We are well positioned to serve all your banking needs with deposit and loan products that can
match any financial institution.

Local banking from a local community Bank – and to prove it, the door to my office is
always open.

Sincerely,

Joseph T. Baptista Jr.
President/CEO

FDIC Offers Tips for Keeping Costs Down on Checking and Savings Accounts

Other topics in the latest FDIC Consumer News include the permanent increase in federal deposit insurance coverage to $250,000 and money management strategies for young adults

New rules limit the fees banks and other financial institutions can charge on some services, so it’s possible that the costs of other services, such as checking and savings accounts, could go up. The Summer 2010 issue of FDIC Consumer News, published by the Federal Deposit Insurance Corporation, features ways that careful consumers may avoid unnecessary costs on their deposit accounts. Other timely topics include the permanent increase in the basic federal deposit insurance limit to $250,000 and personal finance advice for young adults.

The latest issue can be read or printed online at www.fdic.gov/consumers/consumer/news/cnsum10.

The FDIC encourages financial institutions, government agencies, consumer organizations, educators, the media and anyone else to help make the tips and information in FDIC Consumer News widely available. The publication may be reprinted in whole or in part without advance permission. Organizations also may link to or mention the FDIC Web site. See the Web site above for more details.

The FDIC also is offering the article for young adults as a separate, two-page reprint. To print copies of that article in any quantity, go to www.fdic.gov/consumers/consumer/news/cnsum10/starting_out_on_your_own.pdf.

FDIC Transaction Account Guarantee Program:

Effective January 1, 2010, Mechanics Cooperative Bank will no longer participate in the Transaction Account Guarantee (TAG) Program. Therefore any funds held in
non-interest-bearing transaction accounts will no longer be guaranteed in full by this
program. These funds will continue to be insured up to $250,000 under the FDIC’s general
deposit insurance rules.

Mechanics Cooperative Bank is a proud member of the Share Insurance Fund. The Share Insurance Fund insures all deposits in Massachusetts co-operative banks above the Federal Deposit Insurance Corporation (FDIC) limit of $250,000.

At Mechanics Cooperative Bank, there are no limits; every single dollar deposited
with us is 100% insured in full.

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