Avon Co-operative Bank Rates & Review

Avon Co-operative Bank Review

Avon Co-operative Bank, established in 1914, provides personal and business banking services in southeastern Massachusetts.

Established in 1914, Avon Co-operative Bank is a state-chartered bank located in the town of Avon, Mass. and serves the surrounding southeastern Massachusetts area with personal banking, business banking, and home mortgages.

Products and services

Avon Co-operative Bank offers its "absolutely free" checking account and an interest checking account for all customers over the age of 50. The bank's savings account has free statements with no monthly fees. Available CD maturities range from three months to five years. For investors seeking greater liquidity, the bank offers a money market account that is 100 percent insured.

The bank has a wide range of fixed and adjustable-rate mortgages, along with a first-time homebuyers program for customers who want to purchase property in Bristol, Plymouth, and Norfolk counties. In addition to a checking account, CD, savings account, and money market account, Avon Co-operative Bank also offers home equity loans and lines of credit, and car loans.

Deposit insurance

As of August 2010, all bank deposits with Avon Co-operative Bank are fully insured, with the first $250,000 insured by the FDIC, and amounts above that insured by the Share Insurance Fund (SIF). The SIF is a private fund owned by the member co-operative banks, which insures all deposits at co-operative banks in Massachusetts above Federal Deposit Insurance Corporation (FDIC) limits.