BOARD OF BANK INCORPORATION
There were no applications filed with or pending before the Board of Bank Incorporation in December.
DIVISION OF BANKS
Decisions/Notices
Bridgewater Savings Bank ("Bridgewater"), Raynham and East Bridgewater Savings Bank ("East Bridgewater"), East Bridgewater - permission to merge under the charter, by-laws and name of Bridgewater. The main office of Bridgewater would remain the main office of the continuing institution and the banking offices of East Bridgewater would be retained as branch offices - approved December 14, 2009.
Danversbank, Danvers - permission to close a branch office located at 100 Cummings Center, Beverly - approved December 9, 2009.
First Priority Credit Union, Boston - permission to close a branch office located at 155 Father Morrissette Boulevard, Lowell - approved December 23, 2009.
First Priority Credit Union, Boston - permission to close a branch office located at 200 Smith Street, Waltham - approved December 23, 2009.
Applications/Notices Pending
Freedom Credit Union, Springfield - notice to establish a branch office at 422 B Main Street, Easthampton. Filed December 29, 2009.
Grafton Suburban Credit Union, North Grafton - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership for those who live work or attend school in Middlesex County as set out in the proposed by-law. Comment period ends January 22, 2010.
Northampton Co-operative Bank, Northampton - notice to establish a branch office at 390 College Street, Amherst. Filed December 21, 2009
JANUARY 2010 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., Friday, January 15, 2010.
COMMUNITY REINVESTMENT ACT DESCRIPTIVE RATINGS AND EVALUATIONS
WHICH BECAME PUBLIC DURING THE MONTH
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 www.mass.gov/dob.
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 Union | Rating | Date of Examination |
|---|---|---|
Berkshire Bank, Pittsfield | HS | 02/02/09 |
Country Bank for Savings, Ware | S | 07/27/09 |
East Boston Savings Bank, Boston | HS | 01/26/09 |
| Mortgage Lender | Rating | Date of Examination |
|---|---|---|
MSA Mortgage, LLC | S | 06/03/09 |
Union Capital Mortgage Business Trust | SNC | 04/15/09 |
APPLICATIONS TO SELL INSURANCE
First Priority Credit Union - pending
Greater Springfield Credit Union - approved December 1, 2009
Marblehead Bank - approved December 9, 2009
Needham Bank - approved December 29, 2009
CHECK CASHER LICENSES
Applications Pending
Bennington Convenience Store, Inc. d/b/a Sava's Market, East Boston - permission to operate a check casher office at 150 Bennington Street, East Boston. Comment period ended June 18, 2009.
Braz Transfers, Inc., Somerville, Massachusetts - permission to operate a check casher office at 377 Somerville, Ave., Somerville. Comment period ended September 24, 2009.
Castleridge, Inc., Fitchburg, Massachusetts - permission to operate a check casher office at 442 Mechanic Street, Fitchburg. Comment period ended November 20, 2008.
PLEASE NOTE: All publications of the Division of Banks are now delivered electronically. To subscribe, simply send an email to:
dobactivityreport-subscribe@listserv.state.ma.us
If you need assistance or have questions, please contact Bernard N. Waxman at 617.956.1571.
For information relative to current Activity Reports please contact the Consumer Assistance Unit .