Frequently Asked Questions about Banking
After your Pilgrim Co-operative Bank checking account has been approved, you will receive Pilgrim Co-operative Bank’s routing and transit number along with your account number. If your employer participates in a direct deposit program, simply provide this information to the human resources or payroll department at your company and your direct deposit will usually begin within thirty days.
After your Pilgrim Co-operative Bank checking account has been approved, we will complete the process for you. Our customer service staff will take care of all the details. Just call us at 781-383-0541
Pilgrim Co-operative Bank offers a Business Checking account that is tailor made for small business. The account has no minimum balance requirement and has a monthly maintenance fee of only $5.00. There are no per check fees and only $10.00 is required to open the account. We also offer a Variable Rate Money Market account that pays high market rates and allows up to 6 third party transfers per statement cycle, 3 of which may be by check. This account is ideal for the business that needs to temporarily hold funds while earning a market rate of return.
Pilgrim Co-operative Bank offers both the Traditional IRA as well as the Roth IRA, SEP IRA and Educational IRA. Funds are deposited in Certificates of Deposit and are fully insured and guaranteed. There are no market risks associated with your investment at Pilgrim. Every account is insured in full and provides you with the peace of mind of knowing that your account balance can only grow. The up and down movement of the market is removed and you are safe in the knowledge that nothing can reduce the size.
Yes! Pilgrim offers the best in consumer banking products anywhere. Our fee structure is very low and our customer service is outstanding. Take for example our NOW account which requires only $10.00 to open, needs no minimum balance and has no monthly fees. We pay an above market rate of interest as long as the balance does not go below $10.00 during the statement cycle.
Yes! Funds can be transferred to Pilgrim Co-operative Bank accounts by wire transfer or via ACH (Automated Clearing House) credits. Call us and ask for details.
You can do most of your banking by using direct deposit, ATMs (withdrawals only), or ACH (Automated Clearing House) transactions. Pilgrim Co-operative Bank also offers a bank by mail service which allows you to mail in deposits. Call, write or visit for details on a method that’s best for you.
Pilgrim provides a wide range of loans. We specialize in mortgage lending and have a wide range of mortgage loan products that will fit every possible situation. We can provide first time home buyer financing, low down payment loans and a wide range of fixed or variable rate mortgages. We also offer Equity Loans at excellent rates with very favorable terms. In addition we can provide automobile and personal lending. Rates and terms are favorable and since we are local lenders all decisions are made quickly, usually within hours. Contact our mortgage or consumer loan officers to discuss your specific financing requirements. Pilgrim is an Equal Housing Lender.