A Message from our President
Considering the recent news and events surrounding the failures of Silicon Valley Bank and Signature Bank, we understand you may have questions about your deposits and banking relationship that you may have never considered prior to this past weekend.
As your trusted banking partner, we want to assure you that Mechanics Cooperative Bank has been serving its customers for 145 years with a commitment to financial stability and customer satisfaction. We are a well-capitalized, community-based bank with a strong record of safety and soundness and are dedicated to serving our customers and communities for generations to come.
As a customer of Mechanics Cooperative Bank, your deposits are always 100% fully insured. The Bank provides all customers with deposit insurance above and beyond the limits set by the Federal Deposit Insurance Corporation (FDIC). This coverage is provided to you via the Depositors Insurance Fund (DIF). For more information about DIF insurance and your coverage, please visit Mechanics-Coop.com/FullyInsured
In addition, Mechanics Cooperative bank has received a 5-star rating for financial health (the highest possible rating) by Bauer financial, an independent bank rating firm. This rating reflects our strong financial performance, prudent management, pristine asset quality, and commitment to excellence in customer service.
At Mechanics Cooperative Bank, we are devoted to providing you with the highest level of service, security, and peace of mind. We want you to know that your deposits are safe and secure with us, and we will continue to work hard to earn your trust and confidence.
If you have any questions or concerns about your account, please do not hesitate to contact us. We are always here to help you.
Thank you for your continued trust and support.
Sincerely,
Joseph T. Baptista Jr.
President and CEO
