Central Co-operative Bank


399 Highland Avenue
Somerville, MA 02144
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Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Central Co-operative Bank is an FDIC insured institution located in Somerville, MA. It was founded in 1915 and has approximately $0.55 billion in assets.

FDIC Insured Yes
FDIC Certificate # 26646
Date Established 1915
Assets $ 550.96 million
Loans $ 474.11 million
Deposits $ 355.42 million
Capital $ 51.32 million

For a more detailed analysis of Central Co-operative Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 22, 2020

Your Current Location: Virginia, VA 20146

Loan Rates - September 22, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Central Co-operative Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
NMLS ID: 2890
License#: MC-3098
2.816% 2.750% 0.88 $2,132 $1,021 Learn More
Rocket Mortgage
NMLS ID: 3030
3.872% 3.750% 1.00 $3,750 $1,158 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
3.500 %
$25,000 Learn More
More Info

Note to Central Co-operative Bank
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Financial Details

Central Co-operative Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Central Co-operative Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Central Co-operative Bank U.S. Bank Average
15.11% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Central Co-operative Bank had $7,990,000 in non-current loans and $398,000 in owned real estate. To cover these potential losses it had $51,317,000 in equity and $4,191,000 in loans loss reserves. That gives it a Texas Ratio of 15.11%.

Return on Equity
Central Co-operative Bank U.S. Bank Average
1.16% 7.80%

Central Co-operative Bank has a Return on Equity of 1.16% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Central Co-operative Bank U.S. Bank Average
9.31% 12.68%

Central Co-operative Bank has a Capitalization of 9.31% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Central Co-operative Bank Balance Sheet Analysis

As of September 30, 2012, Central Co-operative Bank had assets of $550,959,000, loans of $474,105,000, and deposits of $355,424,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 474.11 million
Loan loss allowance $ 4.19 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.40 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
Total deposits $ 355.42 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 550.96 million

Summary Income Statement

March 31, 2020
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Central Co-operative Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Multifamily Mortgages.

Compared to other banks in Massachusetts, Central Co-operative Bank has a significantly higher percent of Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 68.45
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 8.05
Construction and Development Loans 0.08
Commercial Real Estate 20.86
Commercial and Industrial Loans 0.20
Farm Loans 0.00

Frequently Asked Questions About Central Co-operative Bank

Branches and Savings

Is Central Co-operative Bank FDIC insured?

Yes. It is covered under FDIC Certificate #26646.

Why does Central Co-operative Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Central Co-operative Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Central Co-operative Bank a commercial bank?


Where are Central Co-operative Bank locations?

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Is Central Co-operative Bank open on Saturdays?

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Are Central Co-operative Bank ATMs Open 24/7?

Do Central Co-operative Bank ATMs accept cash deposits?

Can Central Co-operative Bank customers use other ATMs?

Do Central Co-operative Bank branches have notaries?

Will Central Co-operative Bank notarize my document?

What address for Central Co-operative Bank should I put for incoming ACH transfers?

Will the Central Co-operative Bank branch print checks?

Do Central Co-operative Bank checks expire?

Does Central Co-operative Bank require US citizenship to open account?

Can Central Co-operative Bank close my account?

Does Central Co-operative Bank Report to credit bureaus?

Does Central Co-operative Bank Use Equifax?

What is Central Co-operative Bank's ACH Routing Number?

What is Central Co-operative Bank's SWIFT code?


Does Central Co-operative Bank offer mortgages?

Compare mortgage rates here.

Does Central Co-operative Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Central Co-operative Bank offer personal loans?

Compare personal loan rates here.

Does Central Co-operative Bank offer student loans?

Will Central Co-operative Bank cash a check?

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Does Central Co-operative Bank cash savings bonds?

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Does Central Co-operative Bank do currency exchange?

Background on The Bank

Who owns Central Co-operative Bank?

How long has Central Co-operative Bank been around?

Can Central Co-operative Bank transfer to other banks?

Does Central Co-operative Bank have quick pay?

Does Central Co-operative Bank accept rolled coins?

Will Central Co-operative Bank accept loose change?

Where is Central Co-operative Bank headquarters?

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