top of page



The Cooperative Banks Employees Retirement Association (CBERA) was established in January 1946 to administer the pension programs for the employees of the Massachusetts cooperative bank industry. Today CBERA serves not only cooperative banks but all financial institutions.

The primary mission of CBERA is to support the retirement needs of member employers and their employees. This is accomplished through the sound administration of our pension plans in an affordable manner, the prudent investing of retirement funds held under trust, and guiding participants and HR personnel to desired retirement outcomes. 


To be the retirement partner of choice for Massachusetts’ banking institutions.

Our Team

Our Team


Chantal Bray,
President and CEO

Chantal joined CBERA in September 2022 as President & CEO-Elect and became President & CEO in January 2023. Chantal has over twenty-five years of experience in the global retirement industry in roles spanning pension administration, actuarial consulting, pension and insurance risk management, corporate strategy, M&A and Board Director for firms such as Principal Financial Group, Mercer, ING, HSBC and MassMutual in 7 countries across the globe.


G. Kevin Fox,
Vice President

Kevin was hired as Vice President in June 1997. As the Association's chief operating officer, he oversees the daily operations of the Association including government filings and testings. He serves as the primary contact for CBERA's relationship with T. Rowe Price, coordinating the transfer of all information among the member employers, the Association and T. Rowe Price. Prior to joining CBERA, Kevin was a Team Leader/Client Manager at Massachusetts Financial Services (MFS).


Terry Penta,
Benefits Specialist

Terry joined the Association in November 1997 from J.L. Hammett Company, where she worked as a Marketing Coordinator. She received her B.S. in Management Science from Bridgewater State College, and has completed the certificate program in Pension Administration at Bentley College. Her responsibilities include acting as the primary administrative contact for several of the Association's member employers, acting as primary contact for pensioners as well as planning events for the Association. 


Jennifer Wojcik,
Benefits Specialist

Jennifer joined the Association in March 2007 from Massachusetts Financial Services (MFS). She has extensive experience in defined contribution and defined benefit administration and compliance. Her primary responsibilities include working with several of CBERA's member employers as well as with the Association's Vice President on compliance issues. She received her B.S. degree from Nichols College.


Mary Sue Spain,
Benefits Specialist

Mary Sue joined the Association in July, 2007. Mary Sue's work experience includes 15 years of defined contribution administrative responsibility at CitiStreet and State Street Bank. During her years at State Street, her duties included implementation, risk management and compliance. Her primary responsibilities currently include working with several of CBERA's member employers, designing and maintenance of the Association's forms and acting as primary contact for non-periodic distributions with Bank of New York Mellon.

Board of Directors

Eric Boecher

The Village Bank 

Andrew Raczka
President & CEO

Abington Bank

Patrick Thorpe
President & CEO


Michael Jones
President & CEO

Institution for Savings

John Citrano

Everett Bank

Michael Culhane
President & CEO

North Cambridge Cooperative Bank

Thomas Mortimer, Chair
President & CEO

Haverhill Bank

Edward Doherty, Jr.


Anthony Worden

Greenfield Cooperative Bank

Kevin Tierney, Sr. 

North Shore Bank

Rosemary Picard
President & CEO

Savers Bank

Talk to Our Team

Contact our team today to learn more about how we can help you build a successful retirement.

bottom of page