The Cooperative Bank of Cape Cod Named one of 2023 Best Banks to Work For

American Banker Recognizes The Coop for Fourth Consecutive Year

December 5, 2023 (Hyannis, Mass.) - The Cooperative Bank of Cape Cod has been named one of the Best Banks to Work For by American Banker magazine for the fourth consecutive year.

Anticipated each year as an additional industry barometer of an institution’s internal health, American Banker’s “Best Banks to Work For” ranking is monitored by account holders and investors as well as employees. The annual survey and awards program identifies and recognizes the industry’s best employers while providing banks with valuable employee feedback.

American Banker recognized 90 banks across the U.S. in its 2023 Best Banks to Work For ranking, based on an anonymous employee survey and a thorough review of benefits and perks offered. The Cooperative Bank of Cape Cod ranked 74th on 2023’s list, lauded specifically for its efforts in staff development. The Coop’s in-house three-year leadership program called "Leading the Way" cultivates current and future supervisors and managers among employees who already possess familiarity with customers and the community.

“The banks recognized on this list are trying hard to create workplaces that employees want to join,” said Chana R. Schoenberger, Editor-in-Chief of American Banker. “Especially during this moment when companies are experiencing a shift in how, where, and how much employees work, banks are paying attention to how they can best retain their people.” 

Determining the “Best Banks to Work For” involves a two-step process. The first step involves an evaluation of participating companies’ workplace policies, practices, and demographics. In the second step, employee surveys are conducted to directly assess the experiences and attitudes of individual employees with respect to their workplace. The combined scores determine the top banks and the final ranking. 

“With record low unemployment rates, increased competition for talent and an evolving post-pandemic work environment, it is now more important than ever to attract and retain employees with innovative policies, benefits, career advancement opportunities and a flexible work environment,” said Lisa Oliver, Chair, President and CEO, The Cooperative Bank of Cape Cod. “We are proud to be considered a national leader – for the fourth consecutive year – in employee satisfaction.”

Full results of this year’s program are available at https://www.americanbanker.com/list/best-banks-to-work-for  and in the November issue of American Banker magazine.

About The Cooperative Bank of Cape Cod

The Cooperative Bank of Cape Cod is an independent mutual community bank with more than $1.4B in assets and is a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF), guaranteeing 100% of deposit balances are insured in full.

The Coop delivers a robust suite of digital and traditional banking products for consumers and business owners including mobile and online banking, person-to-person payments, mortgages, and checking and savings accounts. The bank’s customized programs support businesses of all sizes, through a variety of business loans, cash management services, merchant card processing and payroll services.

Through The Cooperative Bank of Cape Cod Charitable Foundation Trust, the bank is a prominent philanthropic partner, providing more than $2 million in grant funding since 2018 to address the critical socioeconomic needs and challenges of the region. The Coop encourages its employees to become a powerful force for good through volunteerism in the communities where they live and work and was named a 2021 and 2022 Top 100 Charitable Organization by the Boston Business Journal.

Headquartered in Hyannis, The Coop also operates nine full-service branch locations throughout Cape Cod and a mortgage office in Provincetown. For additional information, please visit www.thecooperativebankofcapecod.com,  www.facebook.com/mycapecodbank or call 508-568-3400

About American Banker

American Banker empowers banking professionals with unique analysis and insight into the ideas transforming their business and industry. Across its journalism, events, research and benchmarking, it helps drive the way forward through the complexity of business innovation, retail and commercial disruption, technology, regulation and reform. With a banking community 850M strong, American Banker’s content connects leaders online, in person and in print every day.