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Press Releases

Multiple Senior-Level Promotions at
Medway Co-operative Bank

Jan 8, 2008, Medway, MA—Medway Co-operative Bank President and CEO Jack Hamilton is pleased to announce the promotions of three members of the Bank's senior management team. The growing financial institution continues to enhance overall operations and resources available to clients by promoting Melvin R. McKee, Susan C. Rovedo, and Ann M. Sherry in its ninety-third year of serving the Medway Co-operative Bank region and beyond.

"With such extraordinary experience in the industry, Mel, Sue and Ann bring the highest level of banking expertise and service to our customers," stated Hamilton. "During the coming year, as we expand our branch network and our business development efforts, we will be positioned to deliver the highest level of community banking services. These promotions are an important restructuring step that is essential to the success of our expansion program, and I am so pleased to announce them."

Melvin R. McKee

Melvin R. McKee
has been promoted to Senior Vice President/Senior Commercial Lending Officer. Medway Co-operative Bank has recently expanded the commercial lending staff, including the addition of Vice President Peter Rizzo. The Bank has placed additional strategic emphasis on increasing commercial lending and providing high quality services facilitated by seasoned personnel. McKee's critical role in the Bank's future success is being recognized with this promotion. McKee is responsible for managing new business development efforts of the commercial lending team, overseeing the compliance and operations aspects of the team, creating commercial financing programs to meet customer needs, credit analysis and enhancing ongoing relationships with business owners.

McKee joined Medway Co-operative Bank as Vice President/Commercial Loan officer in April 2004. He has extensive credit experience garnered during his more than 25 years in commercial lending and has held senior lending positions at financial institutions such as Hudson National Bank, Framingham Savings Bank, and AT&T Capital Corp. McKee is a graduate of Northeastern University where he earned a BS and MBA, and the Stonier Graduate School of Banking at the University of Delaware. He resides in Ashland with his wife and family. He currently serves as assistant coach of Assumption College's mens varsity lacrosse team and is a founder of Ashland Youth Lacrosse. McKee is an active member of the Milford Rotary Club.

Susan C. Rovedo

Susan C. Rovedo
has been promoted to Senior Vice President/Technology and Compliance. Her focus will be on developing the systems related to technology, process improvement, new facility design, security, and equipment to support Medway Co-operative Bank's planned branch expansion into Bellingham and Mendon. She will serve as our strategic planning coordinator, and work closely with the Bank's data center (COCC) and online service provider (ORCC) to bring the best product offerings to our customers. With more intense scrutiny from banking regulators on compliance issues such as BSA and privacy, Rovedo will ensure that the Bank maintains its high level of conformance with these regulations throughout the branch network.

Rovedo joined Medway Co-operative Bank in July 2001 as Compliance Officer and most recently held the position of Vice President, Retail Banking and IT. She has more than 25 years of banking experience. Prior to joining Medway Co-operative Bank, Rovedo was Vice President/Branch Administration & Marketing at Dean Co-operative Bank. She is a graduate of Massachusetts School for Financial Studies and attended Northeastern University and Dean College. She serves on the Board of Directors of the Medway Co-operative Bank Foundation for Education and is Past President of the Bellingham Business Association.

Ann M. Sherry

Ann M. Sherry
has been promoted to Senior Vice President/Customer Care & Relationship Development. With Medway Co-operative Bank's emphasis on service excellence, sales and business development, Sherry adds the management of retail banking and non-deposit insurance & investment services offered through Paul Dowd and Commonwealth Financial Group to her current role of managing the Mortgage Consultants and Private Banker. Sherry will continue to direct the Bank's Marketing and Community Relations efforts.

Sherry joined Medway Co-operative Bank in October 2003 as Vice President/Marketing & Business Development. With more than 20 years of banking experience, she has held similar senior management positions at Strata Bank and East Boston Savings Bank. She is a graduate of Boston College where she earned a BS and MBA. She is past president of the ABA Marketing Network-New England Chapter, and currently serves on the Board of Directors of the Medway Co-operative Bank Business Council as Immediate Past President. She resides in Medway with her family.

About Medway Co-operative Bank

Medway Co-operative Bank - with assets of $136 million - was founded in 1915, and continues to offer a wide range of individual and business banking services, as the only purely mutual, solely local bank in the community.
Medway Co-operative Bank has been voted the #1 Community Bank in Medway and earned the Bronze Award as Favorite Community Bank in the 13-town region in the CNC Readers Choice Awards. The Bank continues to earn the highest rankings for financial strength from nationally recognized bank-rating companies including a Four-Star rating from Bauer Financial. Medway Co-operative Bank, a member of the FDIC and the SIF, is headquartered at 70 Main Street in Medway MA.

For further information, visit www.medwaycoopbank.com or call 508.533.8661.