By the Division of Banks



Belmont Savings Bank, Belmont – permission to close its branch office located at 78 Trapelo Road, Belmont – approved December 4, 2013.

Berkshire Bank, Pittsfield – permission to establish a branch office at 399 Albany Shaker Road, Loudonville, New York – approved December 16, 2013.

Energy Credit Union, Boston – permission to close its branch office located at 70 Fargo Street, Boston – approved December 4, 2013.

Fidelity Management Trust Company, Boston – permission to convert from a state-chartered trust company to a state-chartered limited purpose trust company – approved December 20, 2013.

Mass Bay Credit Union, South Boston – permission to close its branch office located at MBTA Wellington Bus Station, 85 Revere Beach Parkway, Medford – approved December 6, 2013.

Applications/Notices Pending

Avidia Bank, Hudson – permission to relocate its branch office from 33 West Main Street, Westborough to 100 East Main Street, Westborough.  Comment period ended December 11, 2013.

BankGloucester, Gloucester – notice to establish a branch office at 15 Martin Street, Essex.  Filed December 16, 2013.

Berkshire Bank, Pittsfield – permission to close its branch office located at 143 Woodstock Avenue (US Route 4), Rutland, Vermont.  Filed December 13, 2013.

Blue Hills Bank, Hyde Park – notice to establish a branch office at 480 Adams Street, Milton. Filed December 10, 2013.

Century Bank and Trust Company, Medford – notice to establish a branch office at 299 Mishawum Road, Woburn.  Filed December 4, 2013.

Crescent Credit Union, Brockton – permission to close its branch office located within Shaws Supermarket, 715

Crescent Street, Brockton.  Comment period ended December 26, 2013.

East Cambridge Savings Bank, Cambridge – notice to establish a branch office at 9 Playstead Road, Medford.  Filed December 18, 2013.

Eastern Bank, Boston – notice to establish a branch office located at 420 Common Street, Lawrence.  Filed December 9, 2013.

Fall River Five Cents Savings Bank, Fall River – permission to establish a branch office at 590 Metacom Avenue, Bristol, Rhode Island.  Filed December 12, 2013.

Freedom Credit Union, Springfield - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to now add persons who attend school in the Hampden, Hampshire, Franklin, or Berkshire Counties. Related definitions are set out in the proposed by-law.  Comment period ended August 13, 2013.

Freedom Credit Union, Springfield – notice to establish a branch office within Roger L. Putnam Vocational Technical High School, 1300 State Street, Springfield. Filed November 7, 2013.

Metro Credit Union (Metro), Chelsea – permission to (1) merge with Newton Municipal Credit Union (Newton Municipal), Newton; and (2) as part of this merger transaction, amend the by-laws of Metro to include Newton Municipal’s current membership eligibility. Under the terms of the merger, Newton Municipal will merge with and into Metro under the charter, by-laws and name of Metro.  The main office of Metro would remain the main office of the continuing credit union and the sole banking office of Newton Municipal would be retained as a branch office.  Comment period ends January 31, 2014.

Pentucket Bank, Haverhill – notice to establish a branch office at 1077 Osgood Street, North Andover. Filed November 4, 2013.

Randolph Savings Bank, Randolph – permission to close its branch offices located at (1) 730 Centre of New England Boulevard, Coventry, Rhode Island; and (2) 875 Pontiac Avenue, Cranston, Rhode Island.  Comment period ends December 31, 2013.

Salem Five Cents Savings Bank, Salem – permission to close its branch office located at 240 Main Street, Stoneham. Comment period ends January 22, 2014.

January 2014 FILING DATE

Complete applications for the January Activity Report must be received by the Division or the Board on or before 5:00 P.M., Wednesday, January 15, 2014.


The following state-chartered banks and credit unions and licensed mortgage lenders have Community Reinvestment Act descriptive ratings and evaluations describing the basis for the rating issued by the Division of Banks. The ratings, as set out in statute, for a bank's or credit union's record of meeting community credit needs are: Outstanding ("O"); High Satisfactory ("HS"); Satisfactory ("S"); Needs to Improve ("NI"); and Substantial Noncompliance ("SNC"). Licensed mortgage lenders are also assigned one of these ratings to describe their record of meeting the mortgage credit needs in the Commonwealth of Massachusetts.

A consolidated list of all ratings can be found at

A copy of an individual CRA evaluation is available directly from the bank, credit union, or mortgage lender which is required by law to make the material available upon request, or from the Division's web site.


Bank/Credit UnionRatingDate of Examination
Abington Bank, Abington



Avidia Bank, Hudson




Adams Community Bank – pending


As a general rule, applications by banks and credit unions other than those that are subject to a review period set out in statute are intended to be processed and completed within the monthly cycle for which the bank and credit union applies.  That review period for such processing is approximately 45 days or less from the date the application is filed with the Division.  A decision on the application is generally issued within 5 business days after the review period is completed.  The decision then will be reported on the monthly Activity Report for the month in which the decision was issued.  The timing of the overall review process including the issuance of a decision and the listing on the monthly Activity Report will be dependent on the applicant’s compliance with all statutory, regulatory and administrative requirements.  Applications before the Massachusetts Board of Bank Incorporation are subject to separate timing schedules as set out in the applications of the Board.

PLEASE NOTE: All publications of the Division of Banks are now delivered electronically. To subscribe, simply send an email to:

If you need assistance or have questions, please contact Bernard N. Waxman at 617-521-7581.

For information relative to current Activity Reports please contact the Consumer Assistance Unit.