Winchester County Cooperative Bank, one of the nation’s largest, was among the first cooperative banks to accept deposits, and its chief executive has been working closely with the bank’s board and staff to improve its financial services, a spokesman said.
Winchester County cooperative bank chief executive Chris McGovern is working closely, with the board and with the employees, with financial advisor Mark Wicks, to improve financial services.
The bank has been improving its banking services in the wake of the Great Recession and is one of several banks that have accepted deposits from people who are struggling to pay their bills, Wicks said.
In a letter to the board, Wickers said that his company was “well positioned to continue our efforts to improve our financial services and increase our customer base.”
The bank’s chief executive was appointed in July 2016, after the previous CEO left to work at Wells Fargo.
McGovern, who also serves as the bank president, will receive a $50,000 salary and be entitled to $40,000 in bonuses and other benefits as a result of the appointment, Wicker said.
He will receive $30,000 of the $60,000 he will receive in base pay for the first two years of his new job, the spokesman said, adding that the bank will also offer $50 bonuses to employees and $20 bonuses to consultants.
The bank said in a statement that it was “very pleased to announce that Chris McConnors appointment as chairman and CEO of Winchester Cooperative Bank will be extended through the end of the year.”