Improve Your Finances in the Year Ahead

capeandcoastbk on December 31, 2020

lined yellow pad paper with list of budget items. pen and calculator

The start of a new year is a time to make resolutions, correct bad habits and consider ways to improve your financial health. Even if you already are a successful saver and investor, there is always room for improvement. Here are 10 tips from The Massachusetts Bankers Association that can make a difference in your financial situation:

Review Your Current Finances 

The first step toward improving your finances is to know where you stand. Take the time to look at all your assets (e.g., checking, savings, savings bonds, 401(k), etc.), as well as your liabilities, such as car and house payments and credit cards and their outstanding balances. Once you have a good picture of your current finances, you can move on to the next step.

Make a Budget

Most consumers don’t have a budget. According to a survey by the National Foundation for Credit Counseling (NFCC), just 41 percent of adults use a budget to manage their finances. Remember that a budget does not have to be complex. Essentially, a budget should have income vs. spending, with spending itemized. The goal is to have money left over at the end of a month, or at least to break even.

Stress Test Your Finances

As part of the budget process, conduct your own stress test for your finances. For example, are you prepared for a medical emergency or job loss? Now is the time to think about what you would do in this kind of scenario. The worst thing is not to have planned for the unexpected.

Implement the Island Approach

The island approach is an innovative way to manage your finances. This simply means to isolate different financial needs on different financial products. For example, have one credit card for everyday purchases such as gas and food that you pay off each month; and another credit card for emergency expenditures.

Reduce Your Debt

You’ve reviewed your current financial condition and created a budget. Now you want to add a line item for debt reduction. Credit card debt should be at the top of the list, followed by car payment, home mortgage, etc. Your goal should be to reduce your debt each month.

Protect Yourself from Scams

Everyone needs to be reminded about the dangers of fraud, identify theft and just plain scams. If you get an offer that sounds too good to be true, it is. Protect yourself and your money at all times.

Start an Emergency Fund

Ideally, you have money left over at the end of the month. The best thing you can do is to put this into an emergency fund for those unexpected expenses that always seem to happen. A three to six month expense cushion is recommended.

Increase Your Savings Percentage

In addition to accumulating an emergency fund, try to increase your savings, such as an IRA, passbook account or 401(k). If you now save only 3 percent, for example, try increasing it one percent a year over the next five years. According to the same NCCP survey, fewer than 19% of U.S. adults feel “very confident,” while 29% indicate “not at all confident” that they have saved enough for retirement. Most financial planners recommend saving 15-20% of income for retirement.

Improve Your Credit Score

As part of your financial review, you need to check your credit score. Remember: The higher the score, the lower your interest on loans. Good credit pays. And good credit scores are based on your ability to pay down your debt.

Talk to Your Banker

You have made your financial plan and set your goals. The final step is to renew your relationship with your bank and ask your local banker to go over plans with you. Call your banker. They can help solidify your plans as well as help achieve your financial goals. In addition, they can help you plan for those life-changing situations or unexpected expenses.

Contact Our Investment Executives

The Massachusetts Bankers Association represents approximately 145 commercial, savings, and co-operative banks and savings and loan associations with 69,000 employees located in Massachusetts and elsewhere in New England.

ABA and America’s Banks Launch #BanksNeverAskThat Anti-Phishing Campaign

capeandcoastbk on October 1, 2020

Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. The Federal Trade Commission’s 2019 report on fraud estimates that American consumers lost a staggering $1.48 billion to phishing scams in 2018. The problem has only grown worse during the COVID-19 pandemic, given the increased use of online and digital banking tools.Banks Never Ask That

To mark the beginning of National Cybersecurity Awareness Month, The American Bankers Association, joined by banks of all sizes across the nation, today launched a first-of-its-kind, industry-wide campaign to educate consumers about the persistent threat of phishing scams. “With the help of banks from across the nation, we’re turning the tables on the bad guys by empowering consumers with the tools they need to spot bogus bank communications” said Rob Nichols, ABA president and CEO. The #BanksNeverAskThat campaign reinforces the notion that banks do not text, call or email customers asking for sensitive information like their passwords and PIN.

National Cybersecurity Awareness Month is a collaborative effort between government and industry that raises nationwide awareness of cyber crimes and prevention every October. Because it coincides with the launch of #BanksNeverAskThat, ABA is celebrating with a cybersecurity-month sweepstakes. Every week during the month of October, site visitors can test their scam savviness by taking the #BanksNeverAskThat quiz, then sharing it on Twitter for the chance to win one of 15 gift cards. All entrants in ABA’s sweepstakes will also be eligible to win the $1,000 grand prize at the end of the month.

What is Phishing?

Phishing is a type of online scam where criminals make fraudulent emails, phone calls, and texts that appear to come from legitimate businesses, even your bank. Every year, people lose hundreds, even thousands of dollars to these scams. The communication is designed to trick you into entering confidential information (like account numbers, passwords, PINs, or birthdays) into a fake website by clicking on a link, or to tell it to someone imitating banks and businesses on the phone.

What to do if you receive a scam email, call, or text

Email or Text

If you suspect that an email or text you receive is a phishing attempt:

  • Take a deep breath. In most cases, it’s perfectly safe to open a scam email or text. Modern mail apps, like Gmail, detect and block any code or malware from running when you open an email. The key is not to click links, or download any attachments.
  • Do not download any attachments in the message. Attachments may contain malware such as viruses, worms or spyware.
  • Do not click links that appear in the message. Links in phishing messages direct you to fraudulent websites.
  • Do not reply to the sender. Ignore any requests from the sender and do not call any phone numbers provided in the message.
  • Report it. Help fight scammers by reporting them. Forward suspected phishing emails to the Anti-Phishing Working Group at reportphishing@apwg.org. If you got a phishing text message, forward it to SPAM (7726). Then, report the phishing attack to the FTC at ftc.gov/complaint.

Call

If you receive a phone call that seems to be a phishing attempt:

  • Hang up or end the call. Be aware that area codes can be misleading. If your Caller ID displays a local area code, this does not guarantee that the caller is local.
  • Do not respond to the caller’s requests. Financial institutions and legitimate companies will never call you to request your personal information. Never give personal information to the incoming caller.
  • If you feel you’ve been the victim of a scam and provided personal or financial information, contact your bank immediately at their publicly listed customer service number. Often, this is found on the back of your bank card. Be sure to include any relevant details, such as whether the suspicious email, call, or text attempted to impersonate your bank and whether any personal or financial information was provided to the spammer.

What to do if you fall for a scam email, call, or text

  1. Contact your bank, financial institutions, and creditors
    • Speak with the fraud department and explain that someone has stolen your identity.
    • Request to close or freeze any accounts that may have been tampered with or fraudulently established.
    • Make sure to change your online login credentials, passwords and PINs.
  2. Secure your email and other communication accounts
    • Many people reuse passwords and your email or cell phone account may be compromised as well.
    • Immediately change your accounts’ passwords and implement multi-factor authentication— a setting that prevents cybercriminals from accessing your accounts, even if they know your password — if you haven’t already done so.
  3. Check your credit reports and place a fraud alert on them
    • Get a free copy of your credit report from annualcreditreport.com or call 877.322.8228.
    • Review your credit report to make sure unauthorized accounts have not been opened in your name.
    • Report any fraudulent accounts to the appropriate financial institutions.
    • Place a fraud alert on your credit by contacting one of the three credit bureaus. That company must tell the other two.
      – Experian: 888.397.3742 or experian.com
      – TransUnion: 800.680.7289 or transunion.com
      – Equifax: 888.766.0008 or equifax.com
  4. Contact ChexSystems at 888.478.6536 to place a security alert on the compromised checking and savings accounts when a deposit account has been impacted.
  5. Contact the Federal Trade Commission to report an ID theft incident: visit ftc.gov/idtheft or call 877.438.4338.
  6. File a report with your local law enforcement
    • Get a copy of the report to submit to your creditors and others that may require proof of the crime.

 

For more tips on ways to protect yourself from fraud, visit our resources: https://staging.thecooperativebankofcapecod.com/resources/your-security/

 

Imposter Scams

capeandcoastbk on September 23, 2020

A scammer pretends to be someone you trust — a government agency like the Social Security Administration or the IRS, a family member, a love interest, or someone claiming there’s a problem with your computer. The scammer can even have a fake name or number show up on your caller ID to convince you.

Below are tips to guard against scam phone calls from thieves intent on stealing a victim’s money or identity.  Here are several tips to help guard against being a victim of imposter phone scams:

Scammers use caller ID spoofing
Scammers can make any name or number show up on your caller ID. That’s called spoofing. So even if it looks like it’s a government agency like the Social Security Administration calling, or like the call is from a local number, it could be a scammer calling from anywhere in the world.

Scammers make unsolicited calls
Phone scams come in many forms, but they tend to make similar promises and threats, or ask you to pay certain ways. They con the victim into sending cash, usually through a prepaid debit card or wire transfer. They may also leave “urgent” callback requests through phone “robo-calls,” or phishing emails.

Callers try to scare their victims
Many phone scams use threats to intimidate and bully a victim into paying. They may even threaten to arrest, deport or revoke a license if the victim doesn’t immediately pay a debt, fine, or fee.

 

For more tips on ways to protect yourself from fraud, visit our resources: https://staging.thecooperativebankofcapecod.com/resources/your-security/

Finance 101 for The College Freshman

capeandcoastbk on August 17, 2020

Each year, we watch high school graduates from our community head off to their first year of college—an exciting milestone filled with pride, anticipation, and plenty of emotion. Many of us have been there ourselves, sending our sons and daughters off as they begin this next chapter. As our children step into a new phase of independence—and often manage their finances on their own for the first time—it’s important to help set clear financial expectations before they go. Here are four tips we encourage families to share with their college students:

  1. Be smart about credit.

    There will be numerous temptations and offers for new credit cards, many coming with tempting perks geared for the collegiate set. Keep to one emergency credit card with a low credit limit. Have a plan for when it should be used and a plan for making regular payments. Getting into credit trouble now can haunt them years later and cripple important milestones, like buying a first home.

  2. Make a budget and stick to it. 

    Having a monthly plan of what you have and your anticipated expenses will keep you on track. Plug in the categories you spend money on most, including going out to dinner with friends, concert tickets, Uber fares, and even your morning coffees from Starbucks (those add up!). Consider using a budgeting app like Mint or NerdWallet to easily keep track of your spending on your phone. For parents, if you’re supporting your child with spending money, work with him or her on the budget and set a monthly limit for what you’ll provide.

  3. Use your meal plan.

    It’s already paid for, so opt for pizza in the dining hall rather than calling out for delivery. And make sure you know all of the little extras your meal plan may include, like purchases at satellite restaurants or in the bookstore. For the parents, I strongly recommend doing your due diligence when selecting a plan. The options can be dizzying, so read up on them and take advantage of any information sessions offered. It can be tempting to purchase the most lavish, expensive plan, for fear your undergrad will starve, but bigger isn’t always the smart option. You may end up throwing money down the meal-plan-drain.

  4. Protect your valuables.

    College living is a fun, communal, social atmosphere, which is great and should be enjoyed! The downside is that it’s also an environment where valuables can easily be stolen. Be smart about laptops, phones, jewelry and other prized possessions. Lock your dorm room door when you’re going down the hall to visit friends or keep your valuables on you. A stolen laptop is a financial hit for sure, but it will also result in lost productivity, lost homework, potential theft of personal information stored on the hard drive, and the inconvenience of replacing it.

This is an exciting time for the student and parent. With the right plan, you’re guaranteed to find success!

Unemployment Fraud – Tips to Protect Yourself

capeandcoastbk on July 16, 2020

Now, more than ever, incidents of fraud are happening daily, and scammers are coming up with new schemes to prey upon the others for financial gain. Currently, there is fraud specifically targeting unemployment assistance due to the COVID-19 health crisis.

There have been many reports of Massachusetts residents receiving letters in the mail from The Department of Unemployment Assistance (DUA) confirming a claim for unemployment benefits. The problem is, they’re currently working and never filed to receive those benefits. This fraud is part of a national unemployment fraud scheme, where illegitimate unemployment benefit claims are being submitted using stolen social security numbers and other personal information from past national data breaches.

If you believe someone has applied for unemployment benefits using your personal information, report the suspected fraud immediately by filling out The Department of Unemployment Assistance’s secure fraud reporting form to alert them or call the DUA customer service department at (877) 626-6800.

Steps you can take to protect yourself:

  • File a police report with your local police department. Get a copy of the report that you can provide to creditors and credit agencies.
  • Change passwords on your email, banking, and other personal accounts.
  • Make a list of credit card companies, banks, and other financial institutions where you do business. Tell them you are a victim of identity theft, and ask them to put a fraud alert on your account.
  • Get a copy of your credit report and dispute any fraudulent transactions. Did you know The Coop offers free credit monitoring? Learn more here.
  • Place a credit freeze with each of the 3 major credit reporting agencies. Call each of the credit reporting agencies at these phone numbers or visit their websites to freeze your credit:
    1. Equifax: 800-349-9960 or freeze your credit online
    2. Experian: 888‑397‑3742 or freeze your credit online
    3. TransUnion: 888-909-8872 or freeze your credit online.
  • Place a fraud alert on your credit file. You can do this by contacting just 1 of the credit agencies to add an alert with all 3 agencies.

For more information on how to protect your identity and recover from identity theft, visit the Federal Trade Commission’s website: https://www.identitytheft.gov/

For more tips on ways to protect yourself online, visit our resources: https://staging.thecooperativebankofcapecod.com/resources/your-security/

How to Protect Yourself, Loved Ones from Elder Abuse

capeandcoastbk on June 12, 2020

Three male senior citizens chat about Elder AbuseYou, or someone you know, could become the victim of a growing crime in America — financial abuse of older Americans. Seniors are increasingly becoming targets for financial abuse. As people over 50 years old control over 70 percent of the nation’s wealth, fraudsters are using new tactics to take advantage of retiring baby boomers and the growing number of older Americans. Senior financial abuse is estimated to have cost victims at least $2.9 billion last year alone.

What Is Elder Financial Abuse?

It’s a crime that deprives older adults of their resources and ultimately their independence. Anyone who sees signs of theft, fraud, misuse of a person’s assets or credit, or use of undue influence to gain control of an older person’s money or property should be on the alert. Those are signs of possible exploitation. Older Americans that may have disabilities or rely on others for help can be susceptible to scams and other fraud. Advances in technology can also make it difficult for seniors to know who to trust and what’s safe.

Despite these threats, taking simple steps to safeguard personal information and being aware of warning signs can protect aging men and women from financial abuse.

Tips for Seniors

What should you do to protect yourself? Plan ahead to protect your assets and to ensure your wishes are followed. Talk to someone at your financial institution, an attorney, or financial advisor about the best options for you.

  • Shred receipts, bank statements and unused credit card offers before throwing them away.
  • Carefully choose a trustworthy person to act as your agent in all estate-planning matters.
  • Lock up your checkbook, account statements and other sensitive information when others will be in your home.
  • Order copies of your credit report once a year to ensure accuracy.
  • Never give personal information, including Social Security Number, account number or other financial information to anyone over the phone unless you initiated the call and the other party is trusted.
  • Never pay a fee or taxes to collect sweepstakes or lottery “winnings.”
  • Never rush into a financial decision. Ask for details in writing and get a second opinion.
  • Consult with a financial advisor or attorney before signing any document you don’t understand.
  • Get to know your banker and build a relationship with the people who handle your finances. They can look out for any suspicious activity related to your account.
  • Check references and credentials before hiring anyone. Don’t allow workers to have access to information about your finances.
  • Pay with checks and credit cards instead of cash to keep a paper trail.
  • Feel free to say “no.” After all, it’s your money.
  • You have the right not to be threatened or intimidated. If you think someone close to you is trying to take control of your finances, call your local Adult Protective Services or tell someone at your bank.
  • Trust your instincts. Exploiters and abusers often are very skilled. They can be charming and forceful in their effort to convince you to give up control of your finances. Don’t be fooled—if something doesn’t feel right, it may not be right. If it sounds too good to be true, it probably is.

What should you do if you are a victim of financial abuse?

  • Talk to a trusted family member who has your best interests at heart, or to your clergy.
  • Talk to your attorney, doctor, or an officer at your bank.
  • Contact Adult Protective Services in your state or your local police for help.

Tips for Family and Friends

What are the warning signs of financial abuse? The key to spotting financial abuse is a change in a person’s established financial patterns. Watch out for these “red flags”:

  • Unusual activity in an older person’s bank accounts, including large, frequent or unexplained withdrawals.
  • ATM withdrawals by an older person who has never used a debit or ATM card.
  • Changing from a basic account to one that offers more complicated services the customer does not fully understand or need.
  • Withdrawals from bank accounts or transfers between accounts the customer cannot explain.
  • New “best friends” accompanying an older person to the bank.
  • Sudden non-sufficient fund activity or unpaid bills.
  • Closing CDs or accounts without regard to penalties.
  • Uncharacteristic attempts to wire large sums of money.
  • Suspicious signatures on checks, or outright forgery.
  • Confusion, fear or lack of awareness on the part of an older customer.
  • Refusal to make eye contact, shame or reluctance to talk about the problem.
  • Checks written as “loans” or “gifts.”
  • Bank statements that no longer go to the customer’s home.
  • New powers of attorney the older person does not understand.
  • A caretaker, relative or friend who suddenly begins conducting financial transactions on behalf of an older person without proper documentation.
  • Altered wills and trusts.
  • Loss of property.

What should you do if you suspect financial abuse?

  • Talk to elderly friends or loved ones if you see any of the signs mentioned here. Try to determine what specifically is happening with their financial situation, such as a new person “helping” them with money management, or a relative using cards or credit without their permission.
  • Report the elder financial abuse to their bank, and enlist their banker’s help to stop it and prevent its recurrence.
  • Contact Adult Protective Services in your town or state for help.
  • Report all instances of elder financial abuse to your local police — if fraud is involved, they should investigate.

Remember

Never give your Social Security number, account numbers or other personal financial information over the phone unless you initiated the call.

 

Article by the American Bankers Association.

 

More Tips to Bank Safely

Four Banking Tips to Make Your Digital Life Easier

capeandcoastbk on May 28, 2020

Woman using The Cooperative Bank of Cape Cod Online and Mobile BankingWoman using The Cooperative Bank of Cape Cod Online and Mobile BankingLife is busy and, at times, stressful. We’re all trying to find ways to save time and skip the headaches. We get it. The Coop has been around for nearly 100 years, but we’re not stuck in the past. Our banking services have changed to meet you where you are. Below are four tips to help make your banking life a bit easier:

Pay Faster, Easier at the Store

Mobile wallets are most popularly Apple Pay, Samsung Pay, and Google Pay. They are one of the most secure ways to make purchases because your debit card number is never actually used in the purchase. Additionally, Mobile Wallets utilize NFC technology allowing you to complete your transactions with a tap of your mobile device to the card reader. They are an easy, secure, and contactless way to pay for your essentials at the store.

Send Money Fast

Zelle® is a fast, safe, and easy way to send and request money using your mobile banking app or online banking account. Funds are sent directly to the recipient’s account in a matter of minutes(1), and all you need is the recipient’s email address or U.S. mobile phone number. To start using Zelle, navigate to Bill Pay within your Online Banking. Click here for more FAQs on Zelle and video tutorial.

There’s an App for That

The Coop App is our free mobile banking app allows you to securely manage your account anytime, anywhere. You can make check deposits and transfers, view transactions, pay bills through Bill Pay, and more from the comfort and safety of your home or office. If you haven’t already, download The Coop App at the App Store or Google Play.

For more helpful tips and information, please check out our Resources page. If you have any questions, please send us a note here or call us at 508.568.3400.

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Looking for a Home? Start Your Mortgage Application Online

 

 

(1) Zelle and Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.  Transactions typically occur in minutes when recipient’s email address or U.S. mobile number is already enrolled with Zelle.

Tips to Strengthen Your Password

capeandcoastbk on April 27, 2020

It’s just a silly quiz, right?

Wrong! Think before you start answering questions in a quiz that pops into your social media feed. Many of those questions are commonly used security questions to log into your various accounts. Sharing the town were you were born or the first car you owned may seem innocent, but to a cybercriminal it’s the beginning of payday.

Defend Yourself

Passwords are our first line of defense when it comes to protecting the systems we access. Different systems/applications have different criteria used to determine the password strength:

  • How many characters is the password?
  • Is the password complex (using Uppercase and Lowercase characters, does the password use special characters (!, @, #, $, &, etc.)?
  • How often should the password expire?
  • How many invalid login attempts do I have before my access is locked?

Complex vs Simple

Why does the character and complexity of a password matter? Simple answer, a shorter and less complex password is easier for a hacker/cybercriminal to crack. While an eight-character password consisting of only lower case characters can be cracked in less than 2 minutes, it would take that same cybercriminal a millennium (1,000 years) to crack a 14-character complex password.

Password Tips

  • NEVER SHARE YOUR PASSWORD WITH ANYONE ELSE.
  • Make your password UNIQUE.
  • Avoid passwords that are easy to guess (birthdays, your name, family names, pet names, favorite vacation spots, etc.)
  • Use a combination of UPPERCASE & lowercase letters with numbers (1234), and special characters (!, @, #, $, %, &, *).
  • Do not store your Passwords and Usernames together.
  • Do not write down Passwords and leave them unsecured.
  • If you think your password was compromised, immediately change your password.
  • Log off systems/application that you are not using.

 

More Security Tips

How to Avoid Wire Transfer Fraud

capeandcoastbk on April 6, 2020

Common Wire Transfer Scams

Tips for Consumers

Scammers often combine new technology with old tricks to get people to send money or give out personal information. Here are 5 tips from the FTC to help you stay a step ahead.

  • Spot imposters. Scammers often pretend to be someone you trust, like a government official, a family member, a charity, or a company you do business with. Don’t send money or give out personal information in response to an unexpected request — whether it comes as a text, a phone call, or an email.
  • Don’t pay upfront for a promise. Someone might ask you to pay in advance for things like debt relief, credit and loan offers, mortgage assistance, or a job. They might even say you’ve won a prize, but first you have to pay taxes or fees. If you do, they will probably take the money and disappear.
  • Consider how you pay. Credit cards have significant fraud protection built in, but some payment methods don’t. Wiring money through services like Western Union or MoneyGram is risky because it’s nearly impossible to get your money back. That’s also true for reloadable cards (like MoneyPak or Reloadit) and gift cards (like iTunes or Google Play). Government offices and honest companies won’t require you to use these payment methods.
  • Be skeptical about free trial offers. Some companies use free trials to sign you up for products and bill you every month until you cancel. Before you agree to a free trial, research the company and read the cancellation policy. And always review your monthly statements for charges you don’t recognize.
  • Don’t deposit a check and wire money back. By law, banks must make funds from deposited checks available within days, but uncovering a fake check can take weeks. If a check you deposit turns out to be a fake, you’re responsible for repaying the bank.

If you spot a scam, report it at ftc.gov/complaint. Your reports help the FTC and other law enforcement investigate scams and bring crooks to justice.

Tips to Protect Your Business

  • Train employees not to send passwords or sensitive information by email, even if the email seems to come from a manager. Then stick with the program — don’t ever ask for sensitive data from employees by email.
  • Remember that email addresses and websites that look legitimate are easy for scammers to fake. Stop and think about whether it could be a scam before you click. Scammers even can hack into the social media accounts of people you trust and send you messages that appear to be from them. Don’t open attachments or download files from unexpected emails; they may have viruses that can harm your computer.
  • Make sure procedures are clear for approving invoices or expenditures. To reduce the risk of a costly mistake, limit the number of people who are authorized to place orders and pay invoices. Review your procedures to make sure major spending can’t be triggered by an unexpected call, email, or invoice.
  • Pay attention to how someone asks you to pay. Tell your staff to do the same. If you are asked to pay with a wire transfer, reloadable card, or gift card, you can bet it’s a scam.
  • Cyber scammers can trick employees into giving up confidential or sensitive information, such as passwords or bank information. It often starts with a phishing email, social media contact, or a call that seems to come from a trusted source, such as a supervisor or other senior employee, but creates urgency or fear. Scammers tell employees to wire money or provide access to sensitive company information. Other emails may look like routine password update requests or other automated messages but are actually attempts to steal your information. Scammers also can use malware to lock organizations’ files and hold them for ransom.

For more tips on protecting your organization from scams, visit FTC.gov/SmallBusiness.

More Security Tips

Chris Cataldo named East Harwich Branch Manager

capeandcoastbk on January 27, 2020

headshot of AVP, Retail Sales & Service Manager, Christopher Cataldo, based in our East Harwich BranchThe Cooperative Bank of Cape Cod is pleased to announce the appointment of Chris Cataldo as Assistant Vice President Branch Manager – Small Business Specialist of the East Harwich branch.

Cataldo brings more than a decade of banking experience to the post, having served at both national and community banks. He began his career as a teller and quickly advanced to managerial roles. He served as Branch Manager for Santander Bank in Duxbury and, most recently, for Randolph Savings Bank.

“Chris has a proven track record of cultivating community partnerships, strengthening teams and most importantly, looking for ways to improve customers’ experience,” said Lisa Oliver, President and CEO of The Cooperative Bank of Cape Cod. “He’ll be a great asset to our branch and our customers in East Harwich.”

Cataldo strongly believes in community involvement. He’s served in various capacities with the Duxbury Business Association, Randolph Chamber of Commerce, Randolph Community Partnership Inc., and Rotary Clubs of Downtown Boston, Randolph, Avon and Canton. He was a Candidate for Selectman in his hometown of Norwell in 2014 and 2015, and an Independent Candidate for U.S. Congress in the 2016 election Massachusetts Ninth District South Shore, SouthCoast, Cape Cod and Islands. Cataldo graduated from Norwell High School and from Suffolk University. He currently resides in Sagamore Beach.

Please stop by to  meet Chris and talk about growing your business, purchasing a home or refinancing, financing business equipment, or investments. Chris and our Harwich team – Mary Lenihan, and Robert Martin – are here for you.