Mechanics pledges 10% to charity

TAUNTON – Mechanics Cooperative Bank President and CEO Joseph T. Baptista Jr. announced that the bank will donate at least 10 percent of its annual net income to local nonprofits.
“The Mechanics Cooperative Bank Leadership Team is 100 percent committed to improving the quality of life in the communities we serve,” said Baptista in a news release. “I am honored to say that our ‘Let’s Keep it Local’ tagline is not just a slogan; rather it is a philosophy that is embedded in company management, and throughout all levels of our organization.”
The bank’s guidelines for giving list affordable housing, economic and job development, educational programs, arts and cultural programs and community sports programs as priorities. Information and donation forms are available online at Mechanics-Coop.com.
Mechanics Cooperative Bank has $378.9 million in assets according to its website and has eight branches. The bank reported net income in its 2011 first quarter of $374,000, according to FDIC documents.