Canton Co-operative Bank celebrates 135 years & more key milestones

By Canton Citizen

One of the very few banks in the country still operating under its original name, Canton Co-operative Bank is celebrating the 135th anniversary of its founding this year.

According to Canton native and Canton Co-operative Bank President & CEO Nick Maffeo, “In 1891, the first president of Canton Co-operative, Ephraim Thorndike, promised that Canton Co-operative would be the ‘easiest and safest place to borrow,’ with the goal of helping local people get ‘homes, happiness and independence.’ Today, we still help local people buy homes, and much more.”

(L-R) Robert Dalo, Nick Maffeo, Debby Kreusch, Laurie O’Leary and Lauren Lyons; (not pictured) April McKee, Jeff Phaneuf and Dan Erickson

“Canton Co-operative Bank is an independent mutual community bank, not a stock bank — and that makes a huge difference,” Maffeo said. “Customers come first with us, not stockholders or Wall Street.”

“Canton Co-operative has also been a place where many local people have started their careers or built a career over decades,” Maffeo added. “Customers really like being able to work with bank employees they can get to know, like and trust. That’s actually how community banking is supposed to be.”

Canton Co-operative employees and directors being recognized in 2026 include:

* Deborah (Debby) Kreusch started at Canton Co-operative in a temporary summer teller position in 1976, and after serving in many operational positions, she was named president of the bank in 1991, a position she held until 2014. Kreusch is currently chair of the bank’s board of directors.

* April McKee joined Canton Co-operative in 1986 as a teller. After holding multiple roles in retail operations, she became branch manager in 2014.

Among the bank’s employees: Senior Vice President/Chief Operating Officer Laurie O’Leary is celebrating 20 years of service, Loan Officer/Closing Coordinator Robert Dalo has reached 10 years of service; and teller Lauren Lyons has attained five years of service.

On the bank’s board of directors, both Jeffrey Phaneuf and Daniel Erickson have reached 15 years of service.

“Canton Co-operative provides a steadiness local people appreciate very much with a friendliness and dedication to this community that customers tell us they appreciate and value too,” Maffeo said. “People can see that Canton Co-operative is here for them — because we are and we have been for 135 years.”

Located next to the Post Office, Canton Co-operative Bank has been Canton’s hometown bank since 1891. The bank has earned a five-star rating for strength and stability from bank-rating service BauerFinancial, and all deposits are insured by the FDIC and the Depositors Insurance Fund (DIF). Canton Co-operative is an Equal Housing Lender (NMLS #721437). The phone number is 781-828-8811.

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