After choosing Director Access as its board portal, Mechanics Cooperative Bank wanted to get board members excited about the new technology by providing an allowance to purchase a portable device of their choice. Most chose an Apple® iPad.
"When our bank began to research board portals, our primary concern was whether our directors would embrace this new technology,” said Joseph T. Baptista Jr., president and CEO of Mechanics Cooperative Bank. “We knew it would be a big departure from the usual meeting packages because a portal eliminates paper waste and delivers all Board correspondence and reporting in a simple digital format.”
Rather than a stack of papers, board members bring their device to the board meeting, where they access everything over a secure Wi-Fi connection. Everyone can follow at their own pace, refer back to notes that were logged prior to the meeting and take down additional comments during discussion. No more storing binders or referring back to written notes.
Mechanics Cooperative Bank was the fifth organization of its kind in the Commonwealth of Massachusetts. During the period of 1877 through 2010, the institution has grown stronger and more successful financially. Mergers have helped Mechanics succeed by expanding their existing customer base and branch network footprint. Today, Mechanics Cooperative reports total assets of $675 million.
“Throughout our history of service, Mechanics Cooperative Bank has been instrumental in helping our customers save systematically, achieve enjoyable home ownership or grow their businesses,” Baptista states.