Adams Co-Operative Bank Board
Teresa A. Daignault Richard A. Dunn Jeffrey P. Grandchamp David J. Lipinski Stephen B. Nelson Atty. Stephen Pagnotta Leon S. Parrott, Jr. Joesph F. Truskowski, Jr. Francis Waterman
Adams Co-Operative Bank Mortgage Loan Originators
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 requires all Financial Institutions and Mortgage Loan Originators (MLO) to be registered with the National Mortgage Licensing System and Registry (NMLSR). Each MLO is given a unique identifying number. Adams Co-Operative Bank has four MLO’s listed below: Mortgage Loan Originator Identifying # Ricky R. Gurney # 462115 Patricia A. Carpenter # 462116 Dawn M. Lampiasi # 462117 Pamela S. Duval # 583013 Click here for more info regarding Mortgage Loan Originators.
Allyn began working for Adams Co-Operative Bank in 1974. She was appointed Vice President in 1996.
Allyn received her Bachelor of Science from North Adams State College. She has continued to further her education with additional courses from MCLA as well as the Institute of Financial Education, Northeast Retirement Services, FiServ and the Community Bank League of New England.
Allyn actively volunteers in the Northern Berkshire community and lives in Stamford, VT.
Andre was hired as CFO/Treasurer by Adams Co-Operative Bank in 2009. Prior to this, he was employed by two regional accounting firms: Wolf & Company, P.C. and Lombardi, Clairmont & Keegan.
Andre was born and raised in the Berkshires. He graduated from Western New England College with a Bachelor of Science degree in accounting.
Andre is active in the Adams Youth Center and the Northern Berkshire United Way. He lives with his wife and children in Lanesboro.
Business Checking Account • No minimum balance • No monthly service charge • First 200 processed checks each month...FREE • First 400 deposited items each month...FREE • ATM & Debit cards transactions...FREE • Online bill payments...you guessed it...FREE Fees: A per item charge fee of $.25 will assessed for each check drawn in excess of 200 during a month and each deposited item in excess of 400 during a month.
• No minimum balance • No monthly service charge • First 200 processed checks each month...FREE • First 400 deposited items each month...FREE • ATM & Debit cards transactions...FREE • Online bill payments...you guessed it...FREE Fees: A per item charge fee of $.25 will assessed for each check drawn in excess of 200 during a month and each deposited item in excess of 400 during a month.
Commercial Construction LoansMake your building plans a reality. Our innovative solutions allow flexible terms during construction and permanent financing. For more information, call us at (413) 743-0001.
Commercial Construction LoansMake your building plans a reality. Our innovative solutions allow flexible terms during construction and permanent financing.
For more information, call us at (413) 743-0001.
Deposits Insured in Full At Adams Co-operative Bank every deposit is insured in full. The Federal Deposit Insurance Corporation's (FDIC) standard deposit insurance amount is $250,000 per depositor, for each account ownership category.
All deposits above that amount are insured by the Share Insurance Fund of Massachusetts (SIF). There are no maximum account limitations or amount limitations.
Business Investment AccountFor businesses that typically have higher balances, or are looking for self-managed higher rate accounts, this account is a solid investment option. A tiered structure allows you to put your surplus cash to work. Federal regulations limit the number of transfers from the account.
Commercial Lines of CreditWe can work with you to create a Credit Line solution that can provide short-term financing for working capital needs, or to smooth out seasonal revenue cycles.
Business LoansSometimes, you need money to make money. Our Business Loans are a great way to finance start-up costs, inventory expansion and other important business expenditures.
Give our Commercial Department a call at (413) 743-0001.
Commercial Real Estate LoansAdams Co-Operative Bank can help you finance a variety of commercial properties—from storefront and office properties to apartment buildings. Already own your building?
We can help you expand it at competitive rates and terms.
Please Note
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Current Checking Account Rates
Minimum to Obtain APY
Interest Rate
APY*
NOW Account
$10
0.05%
Money Market
$2,500 and Over
0.50%
$10 to $2,499.99
0.25%
Performance Investment***
$20,000 and Over
1.00%
$12,500 to $19,999.99
0.75%
$5,000 to $12,4999.99
$10 to $4,999.99
0.10%
***A monthly fee of $ 15.00 will be imposed every statement cycle if the balance in the account falls below $5,000.00 any day of the cycle.
Rewards Checking Account (1)
Rewards Rate
On balances up to $ 25,000.00
$ .01
2.96%
3.00%
(if you qualify)(2)
On portion of balance exceeding $ 25,000.00
$ 25,000.01
1.88% to 3.00%(1)
Base Rate
On full balance
(if you do not qualify)(2)
Effective December 16, 2010
The rate on Savings and Checking Accounts are variable and may change after the account is opened.
24-Hour BankingFor our customers' convenience, Adams Co-Operative Bank offers a 24-hour toll free Express Phone to conduct business transactions or simply check your balance.(877) 266-7397
Night DepositoryWe offer the convenience of a night deposit, allowing deposits and loan payments to be made before or after banking hours, or if you are simply too busy to stop in the lobby.
Free Checking Account
At Adams Co-Operative Bank, Free Checking is just the beginning. We give you a whole package of free banking services:
Holiday Club There are countless things to save your money for… and countless things to spend it on! With our Holiday Club Savings, we make saving for those "special" expenses easy and convenient. Weekly, biweekly, or monthly withdrawals from your Adams Co-Operative Bank checking or savings account make savings automatic, so your money will stay saved for that special time of year.
Certificate of Deposit Rates
Minimum to Obtain
Interest
Term
APY
Rate
3 Months
$ 500.00
0.40%
6 Months
9 Months
0.85%
1 Year
"13" Month Special
1.14%
1.15%
18 Months
2 Year
1.24%
1.25%
30 Months
1.49%
1.50%
3 Year
1.98%
2.00%
4 Year
Certificate of DepositA certificate of deposit (CD) is a time deposit. CDs are similar to savings accounts in that they are insured—all CDs are insured by the FDIC. They are different from savings accounts in that a CD has a specific, fixed term and usually, a fixed interest rate. It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.
Current IRA Rates
$ 100.00
Rates are subject to change. * The Annual Percentage Yield (APY) is accurate as of the effective date listed above. Fees may reduce earnings on an account. A substantial penalty may be imposed for early withdrawal of term accounts.
Roth IRA
The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth than a traditional IRA. You are eligible to establish a Roth IRA if you or your spouse have compensation and your modified income does not exceed certain prescribed limits.
Traditional IRA
An individual retirement arrangement (IRA) is the blanket term for a form of retirement plan that provides tax advantages for retirement savings in the United States. The Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which you make them. You are able to establish a traditional IRA if you are younger than 70 ½ for the entire tax year and you or your spouse have compensation.
Joe T. started at Adams Co-Operative Bank in 1972 shortly after graduating from the University of Massachusetts in Amherst. He was appointed president and CEO in 1989.
Joe has been involved and served on the Board of Directors in several community organizations, and has a deep love of the Berkshire region.He is an avid photographer, golfer, kayaker and attendee of UMass-Amherst events. He and his wife Marilyn live in North Adams.
Kevin was hired as Vice President Commercial Lending by Adams Co-Operative Bank in 2009. He has been working in the financial services industry since 1978 with a short break to practice law with a firm in Albany, NY.
Kevin received his JD Law degree from Suffolk University, his MBA from RPI and his Bachelor of Arts in Economics from St. Lawrence University.
Kevin lives in Bennington, VT with his wife, where he is an active participant in the community. Also, he is the co-host of WBTN Radio's "Voice on Sports."
Mike joined Adams Co-Operative Bank in 2003 asAssistant Vice President. He has 31 years of experience in banking and financial services.
Mike attended local schools and graduated from Hoosac Valley High School. He received his Bachelor of Arts in Human Services from Champlain College in 1978.
He has volunteered for many community organizations, including the United Way, the American Red Cross and the American Cancer Society. He has also coached youth athletics.
Mobile Home LoanAdams Co-Operative Bank can finance mobile homes, on either leased land or owned land. Financing is available for either primary or secondary/vacation mobile homes.
Money Market AccountsWant to earn a Money Market rate of return? Our Money Market Account, available as passbooks or statements, offers a great way to keep your savings hard at work. The statement Money Market Account offers limited check-writing privileges.
Mortgage Loan Originators
Adjustable Rate Mortgage (ARM)An adjustable-rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted. Consequently, payments made by the borrower may change over time with the changing interest rate.
If you need more flexibility, an ARM could be right for you. Our ARMs feature attractive, variable rates with a variety of terms that include rate adjustments during the term.
First-Time Homebuyers Program
We can help make purchasing your first home a bit easier, less stressful and more affordable. Our special First-Time Homebuyers Program features FREE mortgage pre-qualification; 95% financing programs and guidelines that can make it easier to qualify for financing.
Plus, our friendly Mortgage Advisors will walk you through the application process, every step of the way!
Fixed Rate MortgageA fixed rate mortgage (FRM) is a mortgage loan first developed by the Federal Housing Administration (FHA) where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float."
Enjoy the security of a fixed rate and fixed term, with fixed monthly payments. Adams Co-Operative Bank has a range of terms to meet your needs.
Home Equity LoanPutting your home’s equity to work for you is easy at Adams Co-Operative Bank. If you’re a home-owner, the equity in your home can be a great way to finance major expenditures—from a kitchen remodel to college tuition costs. You pay a competitive rate of interest…and the interest you pay may be tax deductible (consult your tax advisor for details on tax deductibility). With a Home Equity Line of Credit from Adams Co-Operative, you have a cash reserve you can draw upon anytime you need it to pay for important expenses—simply by writing a check!
Home Improvement LoanFix up the home you have and add value to it with a Home Improvement Loan from Adams Co-Operative Bank.
For more info contact us at (413) 743-0001 or stop by any one of our three branch office locations.
Investment PropertiesAdams Co-Operative Bank can help you take advantage of the investment potential of real estate with Investment Property financing.
For more information, contact us at (413) 743-0001.
One-Step Construction LoansBuilding your dream home? Our One-Step Construction Loan lets you finance the construction and your permanent mortgage in a single step. There’s just one application process, one appraisal and one closing…saving you time and money.
Unimproved Land LoanFinance farmland, wood lots and other unimproved properties with a Land Loan from Adams Co-Operative Bank.
For more info contact us at (413) 743-0001 or visit one of our three branch offices.
Motorcycle, RV, Snowmobile & Boat Loans
We can help you finance those fun vehicles, too! Let us show you how easy and affordable it can be.
Apply at any office or call (413) 743-0001 for more details.
New & Used Vehicles
Whether you’re buying a new or used car, we can make it easy and affordable. We can even pre-approve your loan before you go car shopping!
Contact one of our loan officers at(413) 743-0001.
New Horizon Student Checking A checking account of your very own! The New Horizon Checking Account was designed with you in mind. It’s an easy way to manage your funds while still having immediate access to your money.
No minimum balance. No monthly service charge. Checkless Checking. No ATM or POS transaction fees. No fee Online Banking and Bill Pay. Easy-to-balance statement. Free Money Orders. Free Travelers Checks. Direct Deposit into ACB account. Access your funds using ACB's: (1) 24-hour Online Banking (2) MasterMoney Debit Card* (ages 16-17) (3) ATM Card** (ages 14-17) (4) 24-hour Bank Phone * MasterMoney Debit Card Daily Limit: $500 ** ATM Card Daily Limit: $200
NOW Checking AccountEarn interest on your checking account balances and have unlimited check writing, free ATM access at Adams Co-Operative Bank ATMs, free Debit Card with NO annual fee, free Online Banking, free Online Bill Pay and your first order of standard checks free.
Optimum Personal Account Our Optimum Personal Account is the answer to a high yield savings account with the convenience of account to account transfers through online banking. This three tiered-rate account allows you to automatically earn more money based on your account balance.
American Express Travelers Checks American Express Travelers Checks can be purchased at all three branch locations. They are accepted like cash around the world—and easily replaced if they’re lost or stolen. And American Express Travelers checks never expire. Don’t leave home without them!
Adams Co-Op Bank Checks
Bank checks are ideal for transactions where personal checks may not be accepted. Inquire at our Adams, North Adams or Lanesboro branch offices to get a bank check from Adams Co-Operative Bank.
Bank Money Orders
A bank money order is a safe and secure way to send money. You must be a customer of Adams Co-Operative Bank to order a bank money order from us. Inquire at our Adams, North Adams or Lanesboro offices for more details.
Notary Public Services
For customers of Adams Co-Operative Bank, we offer free Notary Public Services at our three branch locations.
At our North Adams and Lanesboro offices, we only have one Notary staff so you want to call ahead to confirm their availability.
Safe Deposit Boxes
Adams Co-Operative Bank offers safe deposit boxes at our Adams and North Adams branch offices. Keep your important documents and valuables safe and sound for a low annual cost. Please visit the offices or call (413) 743-0001 for sizes and pricing.
Wire Transfers
Adams Co-Operative Bank can help you send or receive wire transfers of funds to or from your account. Inquire at any one of our branch offices in Adams, North Adams or Lanesboro for assistance.
Pam has been with Adams Co-Operative Bank since 1989 and was promoted to Vice President in May 2010. Prior to this promotion, she was Assistant Vice President and a Commercial Loan Officer.
Pam is certified from the Mass Bankers Association, America’s Community Bankers and the Center forFinancial Training.
Pam is a member of the Adams Event Committee, the Northern Berkshire United Way and an organizer for the American Cancer Society’s Relay for Life. She lives in Adams with her husband.
Passbook Savings A Passbook Savings Account is our traditional way to save. We make managing your money easy and convenient with record keeping features that keep you updated on your transactions and balances. You can also have a direct deposit into a Passbook Savings account. For more info, visit one of our three branch offices in Adams, North Adams or Lanesboro. Or call our customer service department at 413-743-0001.
Performance Investment Account Our Performance Investment Account is the perfect answer to boost your earnings while you have instant availability to your funds. You'll enjoy unlimited checkwriting, unlimited transfers, unlimited ATM & debit card transactions and online banking. Plus, this tiered-rate account allows you to automatically earn more money based on your account balance.
Personal LoansSometimes, you just need some financing for an important expenditure. We have both unsecured and secured Personal Loans to satisfy the need—including a Passbook Secured Loans that uses your Adams Co-Operative Bank deposits to secure your loan.
Month Statement Qualification Cycle (Must Meet all Cut Date Requirements during this timeframe) Begin Date End Date January 1/14/2011 12/15/2010 1/13/2011 February 2/15/2011 1/14/2011 2/14/2011 March 3/15/2011 2/15/2011 3/14/2011 April 4/15/2011 3/15/2011 4/14/2011 May 5/13/2011 4/15/2011 5/12/2011 June 6/15/2011 5/13/2011 6/14/2011 July 7/15/2011 6/15/2011 7/14/2011 August 8/15/2011 7/15/2011 8/14/2011 September 9/15/2011 8/15/2011 9/14/2011 October 10/14/2011 9/15/2011 10/13/2011 November 11/15/2011 10/14/2011 11/14/2011 December 12/15/2011 11/15/2011 12/14/2011
Month
Statement
Qualification Cycle (Must Meet all
Cut Date
Requirements during this timeframe)
Begin Date
End Date
January
1/14/2011
12/15/2010
1/13/2011
February
2/15/2011
2/14/2011
March
3/15/2011
3/14/2011
April
4/15/2011
4/14/2011
May
5/13/2011
5/12/2011
June
6/15/2011
6/14/2011
July
7/15/2011
7/14/2011
August
8/15/2011
8/14/2011
September
9/15/2011
9/14/2011
October
10/14/2011
10/13/2011
November
11/15/2011
11/14/2011
December
12/15/2011
12/14/2011
Rick has been with Adams Co-Operative Bank since 1986 and was appointed Executive Vice President in 1995.
Rick received his Bachelor of Science from Cornell University, his Master of Science from the University of Connecticut and received his banking certification degree from the New England School of Banking at Williams College.
Rick has been active in several community organizations including most recently the Cheshire Lions Club and the Cheshire Rod & Gun Club.
Savings Makes Cents! Savings Makes Cents is a school-banking program developed to teach the ABC’s of money management skills to elementary school children. The goals of the program are to encourage savings ethic along with making savings accounts available and easily accessible to children. This account needs to be opened with a parent or guardian. Federal law requires all financial institutions to obtain, verify, and record info that identifies each person who opens an account. When you open an account, we will ask for name, address, date of birth, drivers license, and other info that will allow us to identify you. We will also require the social security card of the student.
Christmas Club AccountsMake saving for holiday gift-giving easy and convenient. Weekly, biweekly or monthly withdrawals from your Adams Co-Operative Bank Checking or Savings account make saving automatic.
Passbook & Statement SavingsThe convenient way to set money aside for any purpose. Choose traditional Passbook Savings or Convenient Statement Savings, which can be linked to any Adams Co-Operative Bank Checking Account for convenient funds transfer.
Statement Savings Our Statement Savings Account can be conveniently linked to any Adams Co-Operative Bank Checking Account for a quick and easy funds transfer. Statement Savings Accounts can be accessed through our online banking to view your statement and conduct transfers. Statement Savings Accounts also feature an ATM Card. All of these features allow you to access your account 'round the clock!
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