Nov 14, 2018 | Press Release

Newly Founded Bank, New Valley Bank & Trust, Selects COCC for Core Banking Services

November 2018, Southington, Conn. – New Valley Bank & Trust of Springfield, Massachusetts has selected COCC as its core provider for banking services.

The de novo, which will become Massachusetts’ first new bank since 2009 and the only Springfield-based bank, was drawn to COCC for their professionalism and willingness to help integrate applications for their new banking platform.

New Valley Bank & Trust is dedicated to creating an exceptional user experience, and partnering with companies that will facilitate a forward thinking approach to banking. “Working with COCC guarantees us underlying reliability and support while allowing us to tap into digital transformation and explore a more modern and modular experience,” said Jeff Sullivan, Chief Executive Officer of New Valley Bank & Trust. “We are all extremely impressed with the client-first approach that COCC continues to exhibit, even as it grows into a larger company.”

“New Valley Bank & Trust is an exciting and unique partnership for us as they are a de novo bank,” said Richard A. Leone, Chief Executive Officer of COCC. “Collaboration with institutions that share the same client-first approach are always great partnerships for us, and I look forward to watching them grow”.

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About New Valley Bank & Trust
New Valley Bank & Trust, headquartered in Springfield, Massachusetts, will have approximately 15 employees, growing to approximately 30 over its initial two years of operations and will focus on Hampden County and northern Connecticut, reaching into Worcester County. The new bank will be part of an ATM network and will have about 30 employees, with a goal to raise $25 to $30 million in capital. New Valley’s mission will be lending money to small businesses and helping “the unbanked” get basic savings and checking accounts.

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