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The Mutual Bank Story


Mutual Bank was built on a simple idea: local people and their businesses are best served by a local bank, with local interests at heart. For that reason, Mutual Bank was established as a mutual institution, owned by its depositors, instead of by shareholders. More than a century later, we're still a mutual institution. We like to think of it as a better bank with a big heart.


Today's Mutual Bank is built on the heritage, history, and fabric of Southeastern Massachusetts. By the late 1800s, the areas around Brockton and Whitman had become industrialized and both towns shared in the area's prosperity from the manufacturing of mainly shoes and leather goods. Small groups of local business people who had already succeeded at retail, manufacturing, insurance, and other businesses, started local community banks.

On November 27, 1877, The Security Savings Fund and Loan Association of Brockton, later called Security Federal Savings Bank, was founded. The Whitman Co-operative Bank, later called Mutual Federal Savings Bank of Plymouth County, was incorporated on March 6, 1889.

Both banks weathered the Great Depression of the 1930's, and converted to federal charters to provide insurance for members' deposits. In later years, a number of full-service branch offices were established. Both banks were among the first locally to embrace innovations in financial products, services and technology, such as debit cards, online banking and a web site.

In 2006, the two institutions merged to become Mutual Bank.

There are now Mutual Bank locations throughout Southeastern Massachusetts, stretching from Brockton and Whitman in the north, east to Plymouth and south to Falmouth on Cape Cod. Guided by Glen S. White, Chief Executive Officer, William J. Morse, President, and a Board of Directors of local business and community leaders, we continue the tradition of service to our communities and commitment to sound banking practices established by our founders more than a century ago.

Today, you can enjoy a true community bank with both personal and business services. Whether you're looking for your first mortgage, starting a business or saving for the future, you'll get down-to-earth personal service from a financially-focused team. Your success is our success. We know it, and we live it every day. Your financial well-being means strong, healthy communities – and a brighter future for all of us.