Deborah Kreusch, CEO of Canton Co-operative Bank, has announced that Nicholas (Nick) Maffeo was named president of the local, independent community bank at the board of directors meeting held on February 20.
“Nick Maffeo grew up in Canton,” Kreusch said. “He lives in Canton now. Everyone who knows Nick knows how committed to Canton he is. He’s also a dedicated banker with a strong belief in the importance of local banks to local communities — and he is a genuinely nice person. I know I speak for the entire board of directors when I say we are delighted to have Nick Maffeo as the next president of Canton Co-operative Bank.”
A graduate of Canton High School and Providence College with an MBA from UMass Boston, Maffeo served as a captain in the Army National Guard for 10 years and worked for the Federal Deposit Insurance Corporation (FDIC) before joining Canton Co-operative as vice president and treasurer in 2003.
A Canton youth sports coach for more than 20 years, he is currently the president of Canton Youth Hockey and assistant coach of the Canton High School girls’ hockey team. He lives in Canton with his wife, Kristen, and their three children.
“Canton Co-operative Bank is a true community bank — part of the history and fabric of Canton going back 123 years,” Maffeo said. “And it’s been part of my life since I opened a savings account here when I was 7 years old. To be the president of Canton Co-operative is a singular honor for me, and I very much look forward to being part of continuing to offer the ‘hometown banking’ that people in Canton and the surrounding towns tell us means a great deal to them.”
Canton’s neighborhood bank since 1891, Canton Co-operative Bank is rated “5-Star for Strength & Stability” and is “one of the strongest banks in the country,” according to bank-rating service BauerFinancial of Coral Gables, Florida. All deposits are insured by the FDIC and the Share Insurance Fund (SIF).