About Equitable Bank
Weymouth Cooperative Bank
In 1889, a group of prominent citizens who had the foresight to make their town a better place chartered the Weymouth’s first cooperative bank – South Weymouth Cooperative Bank. The original purpose was to allow people the opportunity to pool their savings in order to loan funds to one another for the building or purchasing of their own homes. In 1981, North Weymouth and South Weymouth Cooperative Banks joined together into what became known as Weymouth Bank. Weymouth Bank evolved from its humble but noble beginnings into a full-service community bank run by local people serving local people and offering a broad array of residential, commercial, municipal, and consumer loan and deposit products and services.
Equitable Cooperative Bank
In 1877, a group of businessmen in the fast growing shoe manufacturing City of Lynn chartered Massachusetts’ second cooperative bank. Their goal was to bring the dream of homeownership to the large numbers of working class citizens of the community. Over the years Equitable Cooperative Bank would be joined by Lynn Cooperative Bank and Swampscott Cooperative Bank and continue to fulfill its original mission of financing residential property. Like Weymouth Bank, it evolved into a full service bank offering a full suite of banking products and services serving Lynn and the surrounding communities.
In 2015, recognizing the need to grow in order to remain strong and competitive in an increasingly complex environment, the holding company of Equitable Cooperative Bank voted to merge into the holding company of Weymouth Bank – setting the stage for the banks to come together in August of 2016. A decision was made to change the name of Weymouth Bank to Equitable Bank in order to capture the growing geographic footprint of our customer base, now and in the future. For all of our longtime customers, the name is changing, but the bank will continue as a locally run, state chartered cooperative bank with five full service offices, seven ATMs, and strong web based solutions for your financial needs.
Equitable Bank remains committed to actively supporting our local communities through youth sports and local charitable organizations. The mission of Equitable Bank is to remain an independent, community bank dedicated to developing long-term customer relationships in the communities of the North Shore and South Shore by offering high-quality products and superior customer service. Management will strive to provide a safe, profitable return on investment by focusing on prudent investment strategies that will be beneficial to the Bank, our customers, employees and the community.