July 27, 2016
Melrose, MA - July 26, 2016 - Melrose Bank was recognized as one of the Top 200 Healthiest Banks in America by Deposit Accounts, a comprehensive online resource dedicated to depository savings information. A financial health-rating algorithm is used to calculate scores, which are the basis of the ranking. Factors that contribute to scores include deposit growth, capitalization and the ratio of funds available to loan totals. Melrose Bank received an A+ for its overall financial health rating.
“We value our customers trust and this achievement is a reflection of the effort we dedicate to upholding a high standard of excellence for their benefit,” stated Jeffrey Jones, Melrose Bank’s President and CEO. “Whether we are handling cash in-branch, optimizing online banking or making business decisions, our ultimate goal is to guarantee that finances and best interests are prioritized.”
Deposit Accounts evaluates the financial health of national and regional banks and credit unions. A proprietary formula is used to assess the financial health of all federally insured banks and credit unions nationwide. For more information about Deposit Accounts and the achievement, please visit https://www.depositaccounts.com/banks/melrose-cooperative-bank.html#health.
Founded on April 4, 1890, Melrose Bank remains a community bank dedicated to providing financial resources and support for the community. Products and services include residential mortgages, consumer loans, retirement plans and full-service banking. All deposits are insured in full by the Federal Deposit Insurance Corporation and the Share Insurance Fund. For more information, please visit melrosebank.com or facebook.com/MelroseBank.
For More Information Contact:
James E. Oosterman
oostermanj at melrosecoop dot com