Board of Directors | Lee Bank | Great Barrington, Stockbridge, Pittsfield, Lenox

Meet Our Board of Directors

Savings banks are mainly concentrated in the New England states where the first savings bank was organized in 1816 in Massachusetts. Until the early 1980's, all Massachusetts savings banks were mutual and operated solely for the sake of their depositors. Today, of the approximately 100 Massachusetts savings bank, roughly two-thirds maintain the more traditional mutual savings bank model which prioritizes customers and community. Lee Bank falls into this category and does not have shareholders.

Lee Bank’s board of trustees oversees the business of the bank. Trustees are elected periodically from the roster of Corporators (see below).

Corporators, on the other hand, are intended to represent a cross-section of the Bank's depositors. Corporators are responsible for electing the trustees and officers of Berkshire Financial Services (Lee Bank’s holding company). They are expected to attend the Annual Meeting where they approve any changes to the Bank’s bylaws or corporate structure and elect trustees. Corporators may, but are not required to, help the Bank to maintain an awareness of community needs and problems with Bank products, services or activities and promote the use of the Bank's products and services. Corporators must be depositors but otherwise have no financial stake in the corporation.