Melrose Cooperative Bank is now Melrose Bank. Our new look and name formalizes the values strongly rooted in our 126 year history – a commitment to the community and to helping our neighbors achieve their financial goals. Our new tagline speaks to what we’re all about...Community Banking. Done Well.
Yes. Melrose Bank is still by our charter a “cooperative” bank, which means your funds, even those over $250,000, are insured in full.
The Federal Deposit Insurance Corporation (FDIC) insures each depositor to at least $250,000. All deposits above this amount are insured by the Share Insurance Fund of Massachusetts (SIF).
No, you can continue to use your existing supply of checks. They will be honored by Melrose Bank and merchants that honor checks.
Running low on checks? Reorder Online >
New cards will be reissued as existing cards reach their expiration date. Any card with a valid expiration date will be accepted at supermarkets, department stores, gas stations – and the many other places MasterCard® is accepted.
There are no functionality changes to online banking or the login at this time, but be on the lookout for a refreshed look. Please continue to bank when and where you want – 24 hours a day, 7 days a week. It's easy, convenient & secure!
Our Mobile App will also be refreshed to our new look shortly.
Operationally, nothing has changed. When you stop by you’ll still be greeted by the same familiar faces. We’re here to help make managing your finances easier! Our existing products are not going away – but we have added a few new ones to better serve you.