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Whitman, MA / December 10, 2003
------ Mutual
Federal Savings Bank Board Appoints Glen S. White, President and
Chief Executive Officer
Long-time president David W. Cogan retiring
after twenty-two years with bank
The board of directors of Mutual Federal
Savings Bank has appointed
Glen S. White to the post of president and chief executive
officer of the bank. He succeeds David W. Cogan, who will
retire as president and chief executive officer and retain
his post on the bank's board of directors.
Incoming president Glen S. White joined Mutual Federal Savings
as assistant treasurer in 1982. He was promoted to vice president
and treasurer and named chief financial officer in 1995. He
went on to assume responsibilities as head of retail banking,
and initiated the bank's information technology program. In
2000, Mr. White was elected executive vice president and appointed
as a member of the bank's board of directors. Prior to joining
Mutual Federal Savings, he was with Charlestown Savings Bank.
He holds a bachelor of science degree in accounting from Oklahoma
City University and is an honors graduate of the National
School of Banking at Fairfield University, Connecticut. Mr.
White assumes his new post as president effective December
10.
Retiring president David W. Cogan began his banking career
with Charlestown Savings Bank. He joined Mutual Federal Savings
in 1981, and was appointed president and chief executive officer
in 1992. During his tenure, Mutual Federal Savings established
a consumer mortgage lending division and grew over forty percent,
from $70 to more than $100 million. Under his direction, the
bank completed a major renovation of the headquarters building
in Whitman Center, and constructed two new branches in Halifax
and Carver. Mr. Cogan served on the membership committee of
the Mainspring Homeless Coalition and initiated the bank's
annual funding support of the Coalition, as well as expanding
the bank's overall giving program to local community causes.
An avid golfer, Mr. Cogan is looking forward to enjoying his
free time in retirement but will remain active in charting
the future direction of Mutual Federal Savings as a member
of the bank's board of directors.
Mutual Federal Savings Bank is an independent, mutually-owned
savings bank serving the Plymouth County, Massachusetts community’s
personal and small business banking needs, with full-service
offices in Whitman, Hanson, Halifax, and Carver. The Bank
has operated continuously as an independent, local institution
since 1889.
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Whitman, MA / March 10, 2003 ------ Mutual Federal Savings
Bank Jumpstarts Playground Fund
Chief Executive Officer David W. Cogan announces
$2,500 gift to Whitman Park Playground Fund
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David W. Cogan, president, Mutual Federal Savings
(right), presents a check for $2,500.00 to Richard Rosen, chairman
of the Whitman Park Playground Fund. |
Mutual Federal Savings Bank has provided a major gift
of $2,500.00 to the Whitman Park Playground Fund. It is the first donation
to be received by the Fund.
“We didn’t wait to be asked!”, said David Cogan,
President of Mutual Federal Savings. “With this early gift to
the Whitman Park Playground Fund, we hope to generate some excitement
and buzz about the project. We also recognize our unique role as the
local bank, headquartered in Whitman Center, to set a good example
for other donors to follow. And we know that our customers, the families
who live in Whitman, will benefit directly from our contribution.”
Mutual Federal Savings has provided additional support for the Whitman
Town Park. For example, the bank recently sponsored three of the new
park benches for the park restoration program. Said Mr. Cogan, “We
are especially interested in supporting activities and amenities that
foster community spirit. We understand that it’s important to
have public gathering places and activities such as Whitman Park, where
we and our children can develop a sense of community, and a commitment
to community. It is probably no exaggeration to say that the child
who plays in a well-maintained town park is more likely to grow up
to play an active role as citizen. Such a park truly is an investment
that pays back a hundred-fold.”
Mutual Federal Savings Bank is an independent, mutually-owned savings
bank serving the community’s personal and small business banking
needs, with full-service offices in Whitman, Hanson, Halifax, and Carver.
The bank has operated continuously as an independent, local institution
since 1889. |
Whitman, MA / March 5, 2003 ------ Mutual
Federal Savings Bank
Announces Additions To Management
David W. Cogan, President and
Chief Executive Officer of Mutual Federal Savings Bank, has
announced the following additions to the bank’s management
team:
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Richard Spencer has been appointed Treasurer
of the bank. In his newly-created position, he is responsible
for the operations and finance areas of the bank. Mr. Spencer
joined the bank from Wolf and Company, a public accounting
and business consulting firm, where he served as a senior
accountant in the bank audit division. He holds a bachelor
of accounting degree from Ithaca College. Mr. Spencer resides
with his wife and son in Pembroke. |
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Melissa LaPorte has joined Mutual Federal
Savings Bank as manager of the Carver branch office. Prior
to joining the bank she was with Ivax Laboratories in the
pharmaceutical sales division. She holds a bachelors degree
in business management from Curry College. Ms. LaPorte served
eight years as a combat medic in the U.S. Army Reserves and
the National Guard. She is a Plymouth resident who enjoys
hiking and camping in her spare time. |
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Vincent Loycano has joined the lending
division of Mutual Federal Savings with responsibilities
for underwriting and new business development, specializing
in mortgage lending and construction financing. He brings
over twenty years’ experience in retail banking and
lending in the Plymouth County area. He is a graduate of
the Massachusetts Bankers School of Commercial Lending.
Mr. Loycano is a past chair of the Whitman Board of Appeals,
and has served as committee chair for Old Colony United
Way.
He is a long-time resident of Whitman. |
Mutual Federal Savings Bank is an independent,
mutually-owned savings bank serving the community’s individual
and small business banking needs, with full-service offices in
Whitman,
Hanson, Halifax, and Carver. The Bank has operated continuously
as an independent, local institution since 1889.
Whitman,
MA / January 22, 2003 ------ Mutual Federal Savings Bank
Holds Annual Meeting
Chief Executive Officer David W. Cogan announces
record performance as bank passes $100 million milestone
The Annual Meeting of Mutual
Federal Savings Bank of Plymouth County was held January 15 at
the bank’s Whitman Center headquarters. Before an audience
of officers, directors, employees, and advisory board members,
bank president and chief executive officer David W. Cogan delivered
the report of operations for the fiscal year ended December 31,
2002.
Mr. Cogan noted that the occasion marked the one hundred-thirteenth
annual meeting for Mutual Federal Savings. “The year 2002
was another terrific year for the bank,” he said. “We
reached an important milestone when, for the first time in the
bank’s history, we passed $100 million in asset size.” Mutual
Federal Savings ended the year with total assets of $101.5 million,
reflecting annual growth of more than five percent. Deposits
grew to $79.6 million, another year-end record high.
“With interest rates at 40-year lows during most of 2002,
home refinancing continued at a brisk pace for a second consecutive
year. The bank loaned more than $21 million in home mortgages
to individuals and families in our local communities,” Mr.
Cogan said.
Notably, Mutual Federal Savings ended the year with a capital
ratio of 11.86%, a record high for the third consecutive year. “Our
excellent capital ratio is a key measure of our bank’s
strength and stability,” said Mr. Cogan. “It means
that this bank is easily able to withstand any current or future
downturns in the economy.”
“Regardless of the challenges of the general economy,
I expect the next few years to bring continued growth and strong
earnings to Mutual Federal Savings Bank,” Mr. Cogan added.
Re-elected to 3-year terms as directors were Sandra G. Armour
of Whitman, John H. Duval III
of Whitman, and Kevin E. Welch of Hanson. They will continue
to serve with fellow directors David W. Cogan, president; Edward
F. Joubert of Duxbury; Dennis S. Soliwoda of Carver; Glen S.
White, executive vice president; and Ronald N. Whitney of Abington.
Mutual Federal Savings Bank is an independent, mutually-owned
savings bank serving the community’s personal and small
business banking needs, with full-service offices in Whitman,
Hanson, Halifax, and Carver. The bank has operated continuously
as an independent, local institution since 1889.
December
31, 2001------ Mutual Federal Savings Bank Announces Officer
Promotions
David
W. Cogan, President and Chief Executive Officer of Mutual Federal
Savings Bank, has announced the following promotions:
Glen
S. White, has been elected executive vice president. He is the
bank's chief financial officer and head of retail banking, and
has served on the bank's board of directors since 2000. Mr. White
joined the bank in 1982. He is an honors graduate of the National
School of Banking at Fairfield University.
Peter
A. Mahoney has been elected vice president and senior lending
officer of Mutual Federal Savings Bank. He is head of real estate
and consumer lending, and oversees electronic banking services
for the bank. Mr. Mahoney recently earned A-plus certification
in PC service and support from Clark University. He serves as
youth soccer president, finance committee member, and on the high
school council for his hometown of Holbrook.
Theresa
A. Bryant has been elected assistant vice president. She serves
as branch administrator and manager of the bank's main office
in Whitman. She is also responsible for the bank's training and
sales activities. She currently serves as treasurer of Whitman
Kiwanis and is a member of the Whitman-Hanson Business and Professional
Association. Prior to joining Mutual Federal Savings in 1986,
Ms. Bryant was with BankBoston.
Mutual
Federal Savings Bank is an independent, mutually-owned savings
bank serving the community's personal and small business banking
needs, with full-service offices in Whitman, Hanson, Halifax,
and Carver. The Bank has operated continuously as an independent,
local institution since 1889.
September
27, 2001 ------ Students at Whitman's Duval Elementary School,
with help of Mutual Federal Savings Bank, raise over $4,000 to
help victims of Sept. 11 Attack
When
the terrible events of September 11 occurred, the children at
Duval Elementary School in Whitman reacted as most people did
- they wanted to help. With the encouragement of teachers and
parent volunteers, the students, grades one through five, decided
to raise funds for the American Red Cross Disaster Relief Fund.
First the student raided their own piggy banks, then they set
to work collecting from others. They accepted pennies, quarters,
dollars, checks, whatever friends, family, and school staff could
contribute to the cause.
As
a final step, they appealed to the local bank for a matching contribution.
Mutual Federal Savings Bank stepped in and agreed to match the
total amount collected, effectively doubling the donation. The
result: Duval Elementary School students raised a grand total
of $4,108.60 to assist the victims of the terrorist attack and
their families.
"As
a school we have always had a goal to be involved in community
projects, said school principal Richard Beshara. "Every time
we ask the support of students, parents, and staff the response
is overwhelming. I am truly proud of our school's efforts in raising
over $4,000 for this cause. It gives us a little sense of gratification
knowing that we have helped the victims of this tragedy."
Whitman,
MA / June 14, 2001 ------ Mutual Federal Savings Bank Supports
Children's Reading In Carver
Prize
awards, art contest, and donation mark conclusion of month-long
grand opening celebration
Mutual Federal Savings Bank recently wrapped up its month-long
celebration of the opening of its new branch at 74 Main Street
(Route 58) in Carver.
Branch
manager Helen Turner announced three grand prize winners from
among hundreds of entries received throughout May from visitors
to the branch. Winners were awarded merchandise ranging from a
DVD Player to a TV-VCR combo. The winners are: Dan Emord, Sue
Blauss, and James Stone, all of Carver.
Honoring
its promise to contribute one dollar per contest entry to a worthy
local cause, Mutual Federal Savings today presented a check for
$750.00 to the Carver Bingo For Books children's reading program,
sponsored by the Carver Public Schools. Accepting the donation
on behalf of the program, Community Resource Project Co-Ordinator
Rhonda Ackerman said, "Thank you so very much. This is a
wonderful way for the Bank to support the School's Family Literacy
Events. It adds another facet to the school culture." She
said the program had just spent $600 for books and the check would
allow them to purchase even more books. Ms. Ackerman said that
the kids like the program because it gives them a chance to spend
some time with the whole family. "The kids think this aspect
of the program is 'cool'."
Winning
entries in the "I Love Carver Because" art contest,
sponsored by Mutual Federal Savings for students in grades three
through five at the Governor John Carver School were also announced.
Savings Bonds for best drawing have been awarded to: Grade three,
Allyson Donahue; grade four, Corina Ward; grade five, Corey Meenan.
"All of the students' drawings were creative and colorful.
Each contribute something special to our wonderful display in
the bank lobby," said Mrs. Turner. Each child received a
Certificate of Thanks, a Sacajawea gold dollar coin, and a merit
ribbon.
Mutual
Federal Savings Bank is an independent, mutually-owned savings
bank serving the community's personal and small business banking
needs, with full-service banking centers in Whitman, Hanson, Halifax,
and Carver. The bank has operated continuously as an independent,
local institution since 1889.
Whitman,
MA / May 1, 2001 ------ Mutual Federal Savings
Bank Grand Opening In Carver On Saturday Was A Great Success
Large
turnout, food, and fun were enjoyed on Saturday
Mutual Federal Savings Bank hosted an open house on Saturday to
celebrate the opening of the bank's newly constructed building
at 74 Main Street, Carver. Hundreds turned out to enjoy the hotdogs,
soda and popcorn, sign up to win prizes, and claim their free
gift. Children were entertained by a clown and received special
balloons in the shapes of flowers and animals.
Carver manager Helen Turner and her staff received well-wishes
from the many customers who attended, many of whom have banked
with Mutual Federal Savings since the bank opened its first location
in Carver in the 1970's.
Until May 25, visitors to the bank can enter a drawing for a chances
to win prizes , including a Panasonic TV-VCR, a JVC-brand DVD
player, and a Phillips mini-Sound System with CD changer. Free
thank you gifts - barrel bags and can koozies - are also still
available, but going fast.
Mutual Federal Savings Bank is an independent, mutually-owned
savings bank serving the community's personal and small business
banking needs, with full-service banking centers in Whitman, Hanson,
Halifax, and Carver. The bank has operated continuously as an
independent, local institution since 1889.
Whitman,
MA / April 23, 2001 ------ Mutual Federal Savings Bank Opens
New Carver Banking Center
Mutual
Federal Savings Bank president David W. Cogan cut the ceremonial
ribbon and declared the bank's new Carver banking center officially
open for business in a ceremony held shortly before noon today,
at the entrance of the newly constructed building at 74 Main Street,
Carver.
Participating
in the ceremony were Carver manager Helen Turner and her staff,
many of whom spent the weekend assisting with the move from the
bank's previous location down the street.
"The
opening of this branch caps a ten-year program of expansion and
upgrading for all four of our full-service banking centers,"
said Mr. Cogan. "We are pleased with the results, and appreciate
the many enthusiastic comments we have received from our customers
and others.
"The
new Carver banking center is more than just attractive it is functional,
too. We have doubled our drive-up teller capacity, added 24-hour
drive-up ATM service, provided handicap access, night drop service
for business customers, and a conference space that will be great
for mortgage closings." Mr. Cogan said.
A
grand opening celebration for the public on Saturday, April 28,
from 10AM to 3PM will feature Mutual Federal Savings Bank officers
serving up hotdogs and soda, and passing out popcorn. Visitors
can enter a drawing for a chances to win prizes, including a TV-VCR,
a DVD player, and a mini-Sound System with CD player. Clowns,
balloons, and WATD-FM on-site with a live broadcast will round
out the fun.
For
each entry received in the prize drawing, Mutual Federal Savings
will donate $1 to buy children's books for Carver's Bingo For
Books reading encouragement program. The prize entry period will
continue through May 25.Anyone 18 or older may enter.
In
addition, the bank is sponsoring an art contest for students in
grades 3, 4, and 5 of the Governor Carver School. The theme of
children's drawings, "I Love Carver Because," was inspired
by Patriots Day. All drawings will be displayed in the bank lobby
starting May 14. Three winning entries, one from each grade, will
be announced on May 25. Winners will be awarded a savings bond,
and all students who enter will receive a token thank you gift
for participating.
Mutual
Federal Savings Bank is an independent, mutually-owned savings
bank serving the community's personal and small business banking
needs, with full-service banking centers in Whitman, Hanson, Halifax,
and Carver. The bank has operated continuously as an independent,
local institution since 1889.
January
24, 2001 ------ Whitman Students Earn Saving Makes Cents
Award From Visiting State Treasurer Shannon O'Brien
State
Treasurer Shannon P. O'Brien and Former Celtics star Ernie DiGregorio
visited Whitman elementary schools this morning to present a Citation
congratulating 4th and 5th graders for their participation in
the Saving Makes Cents program. Saving Makes Cents is conducted
in local schools by Mutual Federal Savings Bank to teach children
about setting and reaching goals, saving, and smart money management.
Treasurer
O'Brien spoke to assembled students at the Duval and Conley schools,
then Ernie D. entertained everyone with a basketball demonstration,
featuring some one-on-one play with individual students. Their
message was the same: Start saving now, every little bit counts,
and practicing good habits today will lead to big rewards down
the road.
Also attending were David W. Cogan, President of Mutual Federal
Saving Bank, and Paul D. Tisdale, coordinator of the Saving Makes
Cents program for the Bank. Mutual Federal Savings was one of
the first banks in the area to volunteer its participation in
the program, now in its 8th year.
Whitman,
MA / Jan. 22, 2001 ------ Mutual Federal Savings Bank
Announces Officer Promotion
Dawn DeVita-Bosworth has been elected an assistant treasurer of
Mutual Federal Savings Bank, it was announced today by bank president
David W. Cogan.
Ms.
DeVita-Bosworth serves as manager of the bank's Halifax office,
where she is responsible for branch operations, customer service,
and local mortgage lending. She also conducts the Saving Makes
Cents educational program at Halifax Elementary School.
Ms.
DeVita-Bosworth has been associated with Mutual Federal Savings
Bank for 18 years. She began her career as a part-time teller
at the Hanson branch, and has managed the Halifax office since
1990.
She
serves on the board of directors and finance committee of the
Plymouth County Coalition for the Homeless, and is a member of
the Halifax & Plympton Business Association. She is a resident
of Halifax.
Mutual
Federal Savings Bank is an independent, mutually-owned savings
bank serving the community's personal and small business banking
needs, with full-service offices in Whitman, Hanson, Halifax,
and Carver. The Bank has operated continuously as an independent,
local institution since 1889.
Whitman,
MA / January 18, 2001 ------ Mutual Federal Savings Bank Reports
Strong Growth
111th
annual meeting for an historic, forward-looking local institution
David
W. Cogan, president and chief executive officer of Mutual Federal
Savings Bank of Plymouth County, delivered the Year 2000 report
of operations to officers, directors, employees, depositors, and
advisory board members at the bank's Annual Meeting of Shareholders
held January 17 at the bank's Whitman Center headquarters.
Mr.
Cogan noted that the occasion marked the one hundred and eleventh
annual meeting for Mutual Federal Savings. "2000 was a solid,
successful year for the bank," he said, "We ended the
year with total assets of $88.4 million, reflecting an annual
growth of more than four percent. Deposits grew to $70.7 million,
a year-end record high.
"We
also are proud to have loaned nearly seven million in home mortgages
to individuals and families in our local communities," he
added. (continued)
Mutual
Federal Savings Bank January 18, 2001 page two
Mr.
Cogan said that Mutual Federal Savings achieved a year-end capital
ratio of 11.7%, a record high for the second consecutive year
and a key indicator of the bank's strength.
"At
the time of last year's meeting, we were in the early stages of
planning a new branch in Carver. Construction is now in full swing,
and we anticipate completion in March.
"In
year 2000 the bank introduced two new services that we believe
will play a pivotal role in the bank's future growth. These are
Small Business Checking and Checkmate Online Banking, which is
the internet-based successor to our former, software-reliant home
banking product." Mr. Cogan concluded that, despite a slowing
of the economy, "I expect the next few years to provide continual
growth and strong profits to Mutual Federal Savings."
Re-elected
to 3-year terms as directors were Mr. Cogan and Edward F. Joubert,
owner of Joubert's Clothing in Whitman. Elected to his first 3-year
term as a director was bank vice president Glen S. White.
Mutual
Federal Savings Bank is an independent, mutually-owned savings
bank serving the community's personal and small business banking
needs, with full-service offices in Whitman, Hanson, Halifax,
and Carver. The bank has operated continuously as an independent,
local institution since 1889.
October
30, 2000 ------ Mutual Federal Savings Bank Helps Homeless
In Plymouth County
David W. Cogan, President and Chief Executive Officer of Mutual
Federal Savings Bank, has announced a major, ongoing funding commitment
by the bank to benefit the Brockton Coalition for the Homeless.
Mr. Cogan, who serves on the Coalition development board, today
presented the first annual contribution in the amount of two thousand
dollars to Coalition executive director Dennis P. Carman and director
of volunteers Julie Vaitkus, in a brief ceremony held at MainSpring
House, Brockton.
"We applaud the good work of the Coalition in providing shelter,
meals, and support to people in need," said Mr. Cogan. "More than
an emergency safety net, it offers people the tools and training
to get back on their feet and return to independent living. And
this organization knows how to make every dollar count. That's
why our bank has determined that the Brockton Coalition for the
Homeless is deserving of our highest level of support."
Mutual Federal Savings Bank is an mutually-owned savings bank
with $85 million in assets, serving the community's personal banking
needs with full-service offices in Whitman, Hanson, Halifax, and
Carver. The Bank has operated continuously as an independent,
local institution since 1889.
October 24,
2000 ------ Mutual Federal Savings Bank Announces Officer Promotions
David W. Cogan, President and Chief Executive Officer of Mutual Federal Savings
Bank, has announced the following promotions:
Glen S. White, Vice President, was elected a Director of the bank by the Board
of Directors of Mutual Federal Savings. Mr. White joined the bank in 1982 from
Neworld Bank, Boston. He serves as the bank's chief financial officer and head
of retail banking. He graduated with honors in July from the National School of
Banking at Fairfield University.
Helen I. Turner has been named Branch Manager of the Carver office. Ms. Turner
joined the bank in 1984. Her experience with the bank incudes branch operations
and two years as a loan specialist. Most recently she served as assistant manager
in Carver. Ms. Turner will also develop mortgage business and conduct the Saving
Makes Cents program in the Carver elementary school.
Melissa M. Russo has been named Branch Manager of the Mutual Federal Savings Hanson
office. She joined the bank in 1995 as a teller, advanced to head teller, and
to her former position as assistant manager in Hanson. Mrs. Russo has just returned
from maternity leave and is the proud new mother of a baby boy, Matthew.
Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving
the community's personal banking needs, with full-service offices in Whitman,
Hanson, Halifax, and Carver. The Bank has operated continuously as an independent,
local institution since 1889.
October 5, 2000 ------ Mutual Federal Savings Bank breaks ground for new branch
in Carver
David W. Cogan, president and chief executive officer of Mutual Federal Savings
Bank, turned the first shovelful of earth at an early morning ground-breaking
ceremony held today to begin construction of a new bank building in Carver.
Participating in the ceremony were bank director Dennis S. Soliwoda, acting branch
manager Helen I. Turner, and bank advisory board members Virginia Borbas, Frederick
W. Weston, and Frank R. Mazzilli.
The new branch will be located opposite Cedar Springs shopping center on Main
Street. It will feature improved drive-up teller facilities, drive-up ATM, night
depository, handicap access, and conference space for mortgage closings.
Mutual Federal Savings Bank has a well-established presence in the town of Carver,
where it has operated a branch office since 1978. Currently doing business at
Sedell Plaza on Main Street, the bank will complete construction and occupy its
new quarters in early 2001.
Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving
the community's personal banking needs, with full-service offices in Whitman,
Hanson, Halifax, and Carver. The Bank has operated continuously as an independent,
local institution since 1889.
August 9, 2000 ------ Mutual Federal Savings Bank V.P. Glen White graduates
with honors from National School of Banking
Glen White, Vice President of Mutual Federal Savings Bank, has returned to his
bank duties after receiving a diploma with honors from the National School of
Banking of America's Community Bankers.
Mr. White was one of the 49 members of the Class of 2000 who took part in the
July 23 commencement ceremonies at Fairfield University in Fairfield, Connecticut.
America's Community Bankers represents the nation's community banks of all charter
types and sizes. ACB members pursue progressive, entrepreneurial strategies for
providing financial services to benefit their customers and communities. The National
School of Banking consists of three ten-day, resident sessions spanning two years
on the campus of Fairfield University. Students are required to complete inter-session
research assignments, as well.
Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving
the community's personal banking needs, with full-service offices in Whitman,
Hanson, Halifax, and Carver. The Bank has operated continuously as an independent,
local institution for 110 years.
April 21, 2000 ------ Coin-holder Album Sales Support Whitman-Hanson H..S.
Girls' Soccer
Decorative coin-holder albums
designed to showcase the 50 U.S. States Commemorative Quarters are now on sale
for the special price of $5.00, exclusively at the following locations: Hanson
Hardware (Rte. 27), and Mutual Federal Savings Bank offices in Hanson (Shaw's
Plaza) and Whitman Center.
All proceeds of the sale go to support the Whitman-Hanson Girls' Soccer Team,
who are trying to raise money to purchase uniforms and equipment for the Fall
2000 season.
The albums were provided at reduced cost by Walker-Clay, Inc. of Hanson. The 50
State Commemorative Quarters are being issued by the U. S. Mint to celebrate the
unique characteristics of the 50 states. five states each year for 10 years, until
2008.
The coins are being issued in the same order that the states joined the Union.
Massachusetts had the distinction of being the first quarter issued in the new
Millenium.
You can learn more about the 50 States Quarters program and other coin facts by
visiting www.usmint.gov on the web.
November 1, 1999 ------ MUTUAL
FEDERAL SAVINGS BANK STARTS
SIXTH YEAR WITH STUDENT BANKING PROGRAM
Mutual Federal
Savings has renewed its partnership with local schools to conduct
Saving Makes Cents programs for the 6th consecutive year.
Mutual Federal Savings was one of the first banks in the area to
volunteer its participation in Saving Makes Cents. The program was
started by the State Treasurer's office to help children learn-by-doing
about the personal rewards of saving, setting and reaching goals,
and practicing smart money management.
More than 1,500
children are eligible to participate in this year's voluntary program,
as follows:
Carver
grades 3,4,5 |
Halifax
grades 5,6 |
Hanson
grades 3,4 |
Whitman
grades 4,5 |
Student orientation
sessions are held during October and November. All students receive
materials including a letter to parents and a permission slip allowing
them to open an account.
According to
Mutual Federal Savings auditor and program coordinator Paul Tisdale,
bank employees visit elementary schools twice a month to let students
make deposits to special Saving Makes Cents passbook accounts.
"The goal
is to instill the kind of behavior patterns in these young people
that will help them understand the importance of saving," says
Paul. "Children at this age get money from babysitting, paper
routes, birthdays, or allowances. We encourage them to save as much
as possible. When they are asked, 'what are some of the things you
want to save for,' the number one answer is always college, followed
by a car, bicycle, and rollerblades."
Adds Paul, "Being
involved in Saving Makes Cents has been a truly rewarding experience
for the Bank."
Mutual Federal
Savings Bank is an independent, mutually-owned savings bank serving
the community's personal banking needs, with full-service offices
in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously
as an independent, local institution for 110 years.
* * * * *
*
July
16, 1999 ------ Mutual Federal Savings Bank of Plymouth County
has been named among the Top 50 Thrifts in the Northeast, as
published in Strategic Adviser magazine, June 1999 edition.
The ranking was based on the Bank's performance in five key financial
indicators: Return on Assets (.86%), Net Interest Margin (3.77%),
Non-Performing Assets ratio (0.00%), Net Charge-Offs Loan ratio
(-0.01%), and Operating Expense/Revenues ratio (65.70). The indicators
measure profitability, asset quality, and operating efficiency.
To qualify, banks must also meet a minimum capital ratio of at least
4%. The Mutual Federal Savings capital ratio was 10.81%, more than
twice the requirement.
The analysis, conducted by SNL Securities, a research and publishing
company and recognized authority for information on financial institutions,
considered all reporting
banks from the six New England states, plus New York, New Jersey,
and
Pennsylvania, as of December 31, 1998.
Mutual Federal Savings Bank is an independent, mutually-owned savings
bank serving the community's personal banking needs, with full-service
offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated
continuously as an independent, local institution for 110 years.
*
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February 1,
1999 ------ David W. Cogan, President and Chief Executive Officer
of Mutual Federal Savings Bank, announced today that the Bank has
joined SUM,
a selective surcharging program managed by the NYCE Network. As
a SUM program member, Mutual Federal joins forces with other financial
institutions who agree to pool designated automated teller machines
(ATMs) and allow all SUM members' customers to use them surcharge-free.
Surcharges are convenience fees that some banks and credit unions
charge non-customers for using their ATMs.
Mr. Cogan said,
"Mutual Federal is pleased to be part of the SUM alliance.
We see it as one more way we can bring our customers great service
at a great price. Our customers are busy and they get around. They
want the convenience of ATM access everywhere they go -- and they
don't want to be held hostage by the big banks who impose surcharges.
In joining SUM, Mutual Federal is making sure we continue to deliver
on our promise to give our customers that convenience."
"All credit
is due to the NYCE Network for coordinating this grassroots initiative
of its local member banks, including Mutual Federal," Mr. Cogan
concluded.
The SUM program,
currently operating as a Massachusetts pilot, is available to all
NYCE Network financial institutions in Massachusetts. As of today,
182 of those institutions have signed with up for SUM, bringing
more than 1,115 ATMs into the surcharge free program.
The SUM name
and logo were developed to help customers readily identify surcharge-free
ATMs. Anyone can find out which institutions are SUM members, and
where SUM ATMs are located, by visiting the SUM web site at www.sum-atm.com.
Mutual Federal
Savings Bank is an independent, mutually-owned savings bank serving
the community's personal banking needs, with full-service offices
in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously
as an independent, local institution for 110 years.
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