Haverhill Bank came to life on August 12, 1877 as Haverhill Cooperative Savings Fund and Loan Association. Seven days later, the Commissioner of Banks gave his approval and, what would become the oldest cooperative bank in Massachusetts, was born. The bank opened September 3, 1877 under the guidance of President Amos W. Downing with the sole intention of providing money to its shareholders to buy homes. The first loan — $400 — was made to F.S. McKenney.
The bank has prospered and grown steadily over the years, successfully merging with Citizens Co-operative Bank in 1963, Whittier Co-operative Bank in 1983, Northeast Community Credit Union in 2008 and Economy Cooperative Bank in 2012.
The bank’s Main Office is at 180 Merrimack St. in Haverhill. Haverhill Bank also maintains offices at 163 South Main St., 1094 Main St., Haverhill High School and Whittier Regional Vocational Technical High School, all in Haverhill; 6 West Main St., Merrimac; 396 Main St., Salem, NH; and 281 Main St., West Newbury, MA.
The bank shortened its name to Haverhill Bank in March 2005 with the aim of simplifying and modernizing the bank’s image and underscoring the bank’s ties to the community. In every other way, the bank remains the same — an institution owned entirely by depositors. All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).
Amos W. Downing
Thomas R. Faulkner
Thomas L. Mortimer