ARTICLE
There's a difference between being a bank on Cape Cod and being a Cape Cod bank. Recently, news broke that one of the few remaining community banks on Cape Cod has been sold and will be closing all of its offices. Since the announcement that Rockland Trust bought Bank of Cape Cod, there have been comments on social media and conversations among Cape Codders about the future of community banking here on the Cape. Folks are concerned that community banks may become a thing of the past. It's undeniable that the seemingly constant increase in regulations raises operating costs (that bigger regional and national banks can spread across a larger base) and disproportionately impacts community banks. It is our strongly held position that the community banking model remains not only viable, but vitally important for a healthy local economy. The deposits at community banks go right back into the local economy, providing loans to help businesses start, grow, and expand, to help folks purchase their homes, and to help parents finance a child's education. Community banks also support local organizations. Whether it's collecting food and toys during the holidays, volunteering and giving back, sponsoring a local band concert, parade, charity fundraiser, little league team, or countless other worthy causes, local banks share their success with the communities they serve. Regional and national banks serve broader geographies and the support they provide many times is focused on other areas. Community bankers provide local knowledge and expertise. Generally, community bank board members and management are residents of the communities they serve. Decisions are made locally by people who understand and appreciate the uniqueness of their particular market area and the impact those decisions can have on the local economy. Cape Cod is a special place, and it's important to understand the unique business climate here. This understanding and appreciation comes with local ownership - board members and managers who are Cape Codders. That's community banking. There are only a few community banks whose only focus is serving Cape Cod. We're happy to be one you can count on. If you already bank with us, we'd like to take this opportunity to say - Thanks for banking with The Cooperative Bank of Cape Cod...we're here to stay. If you don't bank with us yet, and you believe in supporting the local economy as well as the organizations and causes that Cape Codders care about, please give us a try...and Bank Local. If you happen to have family, friends, or business associates who aren't banking with The Coop, please encourage them to give us a try as well. There's a difference between being a bank on Cape Cod and being a Cape Cod bank. Sincerely, Joel G. Crowell President and Chief Executive Officer The Cooperative Bank of Cape Cod jcrowell@mycapecodbank.com About The Cooperative Bank of Cape Cod The Cooperative Bank of Cape Cod is an independent, local, mutual community bank with over $800 million in assets. Established in 1921, the bank is committed to investing in the Cape Cod community where we live and work. The bank is headquartered in Hyannis with branches on Route 6A in Yarmouth Port, East Dennis and West Barnstable; in Sandwich at 275 Cotuit Road; in Hyannis at 695 Attucks Lane in Independence Park; in East Harwich at 1470 Orleans Road/Route 39; in North Falmouth at 660 North Falmouth Highway; in Falmouth at 649 Main Street; in Marstons Mills at 3840 Falmouth Road, and coming soon to Worcester Court in Falmouth this summer. For more information please visit www.mycapecodbank.com, www.facebook.com/mycapecodbank, or call 508.568.3400.