Effective March 17, 2020, The Co-operative Central Bank (CCB) and its Share Insurance Fund (SIF) have merged into the Depositors Insurance Fund (DIF). As a result of this merger, all co-operative banks, including Charles River Bank will now become members of the DIF. The deposit insurance coverage for amounts above the FDIC limit shall now be provided by the DIF.

Importantly, this merger does not change the amount of deposit insurance coverage provided to depositors of co-operative banks. All deposits at Charles River Bank and other Massachusetts co-operative banks continue to be insured in full. 

Each depositor is insured to at least $250,000 by the FDIC. Effective March 17, 2020, all deposits above the FDIC limit will now be insured by the DIF. This merger will benefit depositors by creating a deposit insurance fund with greater resources to protect deposits in member banks.

Like the Share Insurance Fund, the Depositors Insurance Fund has a long history of protecting deposits in member Massachusetts chartered banks. Since 1934, when the SIF and DIF insurance funds were created, no depositor has lost a cent in a member bank. 

To learn more about the DIF’s history, operations, and deposit insurance coverage, please visit the Frequently Asked Questions page on the DIF’s website, or call the DIF at 781-938-1984.

During the upgrade, the Walk-up and Drive-up ATMs at the Main Office will not be available from approximately 5 PM on Friday, December 6 through Sunday, December 8.  

Our Bellingham and Mendon offices will be open from 9 AM – 1 PM on Saturday, December 7. Drive-up ATMs at both locations will also be available throughout the weekend.

Charles River Bank is conducting significant upgrades to our electrical and generator systems at our Medway Office. Below are easy ways to ensure you continue to connect with your accounts throughout the weekend:

• In-Person Banking
  While our Main Office is closed on Saturday from 9 AM to 1 PM, our full-service locations in Bellingham and Mendon will be open, with extra staff on hand to help with any of your banking business. Click here for directions.
• ATMs
  The ATMs at our Main Office will be unavailable throughout the weekend. You can continue to use your Charles River Bank Debit Card to get cash, while avoiding ATM surcharges, by:
  > Visiting our locations in Bellingham and Mendon
  > Using any SUM® or MoneyPass® location
  > Asking for cash back at most grocery stores and major retailers
• Check Deposits
  Need to deposit a check? You can:
  > Use the CRB Mobile Banking app
  > Visit our locations in Bellingham and Mendon
• Safe Deposit Boxes
  Because the Main Office vault will be inaccessible during the upgrade, we encourage you to come in the week of December 1 to access your Safe Deposit Box and get any items you may need during, or directly after, the weekend.
• Night Deposit Drop
  Business customers who currently use the Main Office Night Deposit Drop Box will have access to it during the weekend.
• Cash & Coin
  If you or your business need cash or coin for the weekend, visit the Main Office on Thursday (8:30 AM – 6 PM) or Friday (8:30 AM – 5 PM), in anticipation of the branch closing on Saturday. Of course, you can also visit our Bellingham and Mendon locations for additional coin and cash.

We anticipate the work will be completed in time for our regular opening on Monday, December 9 but as with all major renovations, there may be delays. We will post any changes or updates here, as well as to our Facebook Page.

If you have any questions, please call a Personal Banker at 508-533-8661.  We apologize for the inconvenience and appreciate your understanding.

Charles River Bank (CRB) is providing FREE shredding services during their Community Shred Day on Saturday, November 2nd from 10:00am to 1:00pm. The event will be held simultaneously at CRB’s branch locations at 70 Main Street, Medway, MA 02053; 2 South Maple Street, Bellingham, MA 02019; and 1 Hastings Street, Mendon, MA 01756.

Bring your sensitive documents to any of the CRB locations listed, and the Bank’s document destruction company will professionally shred them onsite. It’s a great way to clear the clutter from your home while protecting your personal information.

“Security of personal financial information is always the highest priority at Charles River Bank. Offering a Community Shred Day provides secure document destruction service to our customers and neighbors who may not have access to a high volume shredder at home,” stated Charles River Bank President & CEO Jack Hamilton.

Everyone who stops by to shred documents will receive a free Charles River Bank pompom hat (while supplies last). Anyone visiting a CRB office on the November 2nd Shred Day can enter to win a $500 Wachusett COW Card. The contest winner can then shred the trails of Wachusett Mountain this winter with family or friends. Questions about Community Shred Day can be directed to 508-533-8661 or info@charlesriverbank.com.

Charles River Bank—with assets of $250 million—was founded in 1915, and continues to offer a wide range of individual and business banking services. The Bank’s Main Office is located at 70 Main Street in Medway, with state-of-the-art branches located on the Bellingham/Franklin town line on Route 140 and in Mendon at 1 Hastings Street, at the intersection of Rte. 16 and North Avenue. Charles River Bank also operates a branch in Medway High School that serves as an educational facility and full-service branch. In 2018, Charles River Bank contributed more than $37,000 to community non-profit organizations.

For more information call 508-533-8661 or visit www.charlesriverbank.com.

Our new site features an updated design which “responds” to the size of your screen, expanded client resource center, and personal stories from our customers and team. We have also included a new tool to assist our visitors with vision or physical limitations and will continue to explore ways to improve accessibility for everyone.

You can login from any page on our site.

Customers who access their personal or business accounts with online banking will be able to access their accounts throughout the site with a single login, located in the top navigation.

We hope you like our new site and look forward to adding new content and capabilities in the coming months.

Assistant Vice President/Commercial Loan Officer, Sean Coyle

Charles River Bank (CRB) is proud to announce the addition of Sean Coyle as Assistant Vice President/Commercial Loan Officer. In his new position, Coyle will develop new relationships and expand existing relationships with CRB’s business customers by identifying their business goals and providing solutions to reach those objectives. Offering commercial lending programs including Commercial Real Estate Lending, Asset and Equipment Financing, Lines of Credit and SBA loans is his focus.

Coyle has fifteen years of experience in the financial services industry including Commercial Lending, Business Development, and Branch Management. Prior to joining Charles River Bank, he worked at Main Street Bank as an Assistant Vice President and Senior Relationship Manager. Preceding his tenure at Main Street Bank, he also held various positions at Milford National Bank, Commerce Bank, Strata Bank and Citizens Bank.

Coyle lives in Bellingham with his wife of 13 years, Brooke, and his twin 11 year olds, Liam and Keara. He is credit trained by Credit Training, Inc. in Westborough and attended The New England School for Financial Studies at the Babson Executive Center. In his free time, he enjoys golfing, reading and supporting the local community. Presently, Coyle is the Treasurer for the Westborough Rotary Club and on the Board of Directors for both the Westborough Public Library Foundation and Six Degrees Networking.

“I am proud to welcome Sean to our Commercial Lending team. His previous work experience and community involvement directly align with Charles River Bank’s vision and mission. I look forward to seeing Sean develop and cultivate new and existing business relationships throughout the local community,” said Charles River Bank President and CEO Jack Hamilton.

Caption: Charles River Bank Marketing and Retail Banking Support Representative Catrina Lopes, Salvation Army Major Dave Irwin and Charles River Bank President and CEO Jack Hamilton display a selection of the hundreds of toys donated this year by the bank to the Salvation Army’s Adopt-A-Family Program.

Charles River Bank shared in the Christmas spirit this year through their partnership with the Milford Salvation Army’s Adopt-A-Family Program. The bank adopted 45 children, and through the generosity of the bank’s employees and customers, all 45 received many items on their wish lists including bikes, roller blades, dolls and coats. Marketing and Retail Banking Support Representative Catrina Lopes organized the yearly tradition for the bank by getting the children’s lists from the Salvation Army and making sure each child was adopted and received what they asked for.

Charles River Bank President and CEO Jack Hamilton stated, “Our local community members show time and time again what it means to come together for the greater good. The amount of toys and clothing purchased for these children is astounding. We are happy to partner with the Salvation Army for this wonderful program, and seeing the generosity of our employees and community members reminds me of why we do this every year.”

The Adopt-A-Family program aims to help local families who have fallen on hard times make Christmas a special time for their children. Parents submit a wish-list for their children detailing their first name, age, gender, clothing sizes and some games and toys they would like to receive. Local businesses and community groups adopt a certain number of children then donors select a wish-list and purchase the items requested.

“The holiday season is a time when we depend on community support the most in order to bring Christmas to those in need. The joy in the eyes of a child when they receive a toy, the relief on the face of a parent when there is food for the family, the smile of the homeless person as they receive food and clothes and the gratitude someone expresses for help with a utility bill or rent . . . these are priceless gifts that the local community helps make possible,” said Major Jessie Irwin of the Milford Salvation Army.

Yesterday, credit reporting agency Equifax announced that between May and August there had been a data breach affecting 143 million of their customers. Personal information potentially compromised include social security numbers, credit card numbers, driver’s license numbers, addresses and birthdates. To find out if you may have been affected by this breach, please visit https://www.equifaxsecurity2017.com/ and follow the online instructions. Equifax is offering one year of free credit monitoring, whether or not you were affected by this breach.

As a reminder, you are always entitled to receive a FREE copy of your credit report every 12 months from each of the three major credit reporting companies, Equifax, TransUnion, and Experian to ensure that the information on all of your credit reports is correct and up to date. Visit www.AnnualCreditReport.com for more information.

The security of your personal information is a top priority at Charles River Bank and it is important to note that your Charles River Bank accounts have NOT been accessed and continue to remain secure. If you have any questions about your accounts with us, please call your Personal Banker at 508-533-8661.

IMPORTANT INFORMATION REGARDING THE EQUIFAX DATA BREACH

Yesterday, credit reporting agency Equifax announced that between May and August there had been a data breach affecting 143 million of their customers. Personal information potentially compromised include social security numbers, credit card numbers, driver’s license numbers, addresses and birthdates. To find out if you may have been affected by this breach, please visit https://www.equifaxsecurity2017.com/ and follow the online instructions. Equifax is offering one year of free credit monitoring, whether or not you were affected by this breach.

As a reminder, you are always entitled to receive a FREE copy of your credit report every 12 months from each of the three major credit reporting companies, Equifax, TransUnion, and Experian to ensure that the information on all of your credit reports is correct and up to date. Visit www.AnnualCreditReport.com for more information.

The security of your personal information is a top priority at Charles River Bank and it is important to note that your Charles River Bank accounts have NOT been accessed and continue to remain secure. If you have any questions about your accounts with us, please call your Personal Banker at 508-533-8661.