ABOUT US
CBERA
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.
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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.
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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 25 years of experience in the global retirement industry in roles spanning pension administration, actuarial consulting, pension and insurance risk management, corporate strategy, M&S and Board Director for firms such as Principal Financial Group, Mercer, ING, HSBC and MassMutual in 7 countries across the globe. In addition to overseeing the CBERA business, Chantal is also the Treasurer and Chief Investment Officer. She holds a Bachelor of Mathematics, Honors Actuarial Science from the University of Waterloo. She is also a Fellow of the Society of Actuaries, a Fellow of the Institute and Faculty of Actuaries, and a member of the American Academy of Actuaries.
Terry Penta,
Benefits Specialist
Terry joined CBERA in November 1997, bringing with her marketing experience from J.L. Hammett Company. Her current responsibilities include supporting CBERA’s member employers and serves as the lead contact for our pensioners. She also plays a key role in planning and coordinating Association events, ensuring every detail runs smoothly. In addition, she serves as the CBERA Board Secretary. She earned her Bachelor of Science degree in Management Science from Bridgewater State University and completed the certificate program in Pension Administration at Bentley University.
Mary Sue Spain,
Benefits Specialist
Mary Sue joined CBERA in July 2007. Mary Sue’s previous defined contribution experience with State Steet Bank included 15 years in the management of implementation and operations teams, and the development of risk management policies and training. Her current responsibilities include supporting CBERA’s member employers, processing non-periodic distributions, maintenance of CBERA’s publications, participant forms, and member bank documents. Mary Sue leads conversions of plans in/out of CBERA, and is the relationship manager for T. Rowe Price and CBERA’s internal system (Reppiks). She received her Bachelor of Science degree in Management with minor in Computer Science from Bridgewater State University and has completed the certificate program in Pension Administration at Bentley University.
Jennifer Wojcik,
Benefits Specialist
Jennifer joined CBERA in March 2007, following seven years at Massachusetts Financial Services (MFS), where she specialized in defined contribution administration, non-discrimination testing, and Form 5500 reporting. In her current role, she works closely with several of CBERA’s member employers and advises participants on their pension benefits and options. Jennifer leads non-discrimination testing, forfeiture allocation, eligibility and Form 5500 filings. She holds a Bachelor of Science degree in Finance from Nichols College.
Corrie Fowles
Office Administrator
​Corrie joined CBERA in August 2024 as an Office Administrator, bringing with her 15 years of experience in administrative support, financial analysis, fiscal accounting, contract management, and program evaluation. Her extensive background enables her to manage diverse administrative tasks and effectively enhance organizational efficiency. She is pursuing a bachelor's degree in Business Management at Western Governors University, furthering her commitment to professional growth.
Board of Directors
Eric Boecher
SVP & CFO
The Village Bank
Dr. Kristin Carvalho President & CEO
MutualOne Bank
Patrick Thorpe
President & CEO
BankGloucester
Michael Jones
President & CEO
Institution for Savings
John Citrano
EVP and COO
Everett Bank
Michael Culhane
President & CEO
North Cambridge Co-operative Bank
Thomas Mortimer, Chair
Chairman and CEO
Haverhill Bank
Edward Doherty, Jr.
CEO
StonehamBank
Anthony Worden
CEO
Greenfield Cooperative Bank
Kevin Tierney, Sr.
Executive Chairman
North Shore Bank
Rosemary Picard
President & CEO
Savers Bank