Financial Tips
Your resource for all things financial
- How to Budget for Big Expenses or Purchasesby John McMahon on February 23, 2021 at 2:31 pm
No matter how detailed your monthly budget spreadsheet is, life happens, and when it does, hopefully, you're prepared. Large and unexpected expenses can make sticking to a consistent spending plan challenging, especially if you live paycheck-to-paycheck and […]
- Why Financial Literacy & Financial Health Are Importantby John McMahon on February 5, 2021 at 3:57 pm
There is a significant difference between being financially literate and achieving financial well-being. Financial literacy is the junction of economic, credit, and debt management knowledge needed to make financially responsible choices fundamental to our […]
- Mechanics Cooperative Bank Employees Raise $12,000 for Local Nonprofitsby John McMahon on January 19, 2021 at 2:56 pm
When Mechanics Cooperative Bank began discussing ideas for a new community based charitable program, we wanted something innovative, mutually beneficial for all and of course, fun. So, we're proud to announce that the bank and our staff created “Jeans […]
- Benefits of Banking Local for Consumers & Businessesby John McMahon on January 15, 2021 at 4:49 pm
When you choose a bank, it is crucial to find the products, services, and rates that meet your needs. As you assess large national banks vs. local banks for your needs, you may question if the size of an institution matters, and to some extent, it does. […]
- Using a Commercial Mortgage as a Tool to Grow Your Businessby John McMahon on December 30, 2020 at 3:06 pm
As a business owner, you may consider leasing or acquiring a commercial property to manage your company. While leasing can be a convenient and quick possibility, many business owners favor having their own space. Similar to a personal mortgage loan used to […]
- Mechanics Cooperative Bank Receives $100,000 Grant to Support Local Small Businesses Impacted by COVID-19by John McMahon on November 30, 2020 at 9:30 pm
Mechanics Cooperative Bank Board of Directors and Executive Leadership Team are pleased to announce they have been awarded a $100,000 grant through the Jobs for New England Recovery Program by the Federal Home Loan Bank of Boston (FHLB) to be used in direct […]
- Mechanics Cooperative Bank Opens New Branch in New Bedfordby John McMahon on November 2, 2020 at 7:54 pm
The Mechanics Cooperative Bank Board of Directors and Executive Leadership Team are excited to announce the opening of a new branch in New Bedford, MA located at 1238 Kempton St. This new location marks the ninth branch office for Mechanics Cooperative Bank, […]
- 3 Reasons You Should Invest in Property for Your Business with a Commercial Mortgageby John McMahon on October 27, 2020 at 3:53 pm
Investing in property can be a smart move for your business’ financial health and can also help boost the financial standing of your business. As a business owner, one of the most important decisions you can make is applying for a commercial mortgage to […]
- 4 Ways to Rebuild or Save for Your Emergency Fundby John McMahon on October 5, 2020 at 3:51 pm
An emergency fund can quite literally save your life in extreme cases and provide you with overall financial stability. During uncertain times, having even merely a few hundred dollars in an emergency fund can provide you with the security and help you need. […]
- 3 Ways to Protect Your Credit When Money is Tightby John McMahon on September 22, 2020 at 5:27 pm
Maintaining a good credit score or fixing a hurt score can often be daunting and discouraging but is still incredibly important. Credit plays a significant role in your overall financial health, as a higher credit score can grant access to countless benefits […]