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MutualOne Bank Names Jessica L. Reed Chairperson of the Board

Headshot of Jessica Reed

Dr. Kristin Carvalho, President & CEO of MutualOne Bank, announced that Jessica L. Reed was appointed Chairperson of the Bank’s Board of Directors this past July.

A partner at Alta Equity Partners, LLC, a Concord, MA-based private equity firm that sources, structures, and executes investments in private companies, Reed serves on boards of a range of companies, guiding management teams through growth planning, business-model evolution, and dynamic economic environments.

Since joining in 2023, Reed has brought her in-depth knowledge of accounting, financial analysis, and strategic decision making to the MutualOne Bank Board as both a member, and most recently, Chair of the Audit Committee.

“Jessica is a proven leader and has been an invaluable member of our Board,” shared Carvalho. “Her vast financial experience, knowledge of MutualOne Bank, and commitment to the community will further our mission to help individuals, families, and businesses with high-tech solutions and high-touch service.”

Throughout her career, Reed has supported various community organizations, including the Business Equity Initiative with Nectar Community Investments, where she consulted as a strategic advisor to help MBE-certified entrepreneurs accelerate growth to assist in greater wealth creation in urban communities around Boston. She also serves as Executive in Residence at Babson College, where she teaches students about private equity.

She holds a Bachelor of Science in Business Administration from Babson College and studied at The London School of Economics and Political Science.

MutualOne Bank Promotes Pia Cordes

Dr. Kristin Carvalho, Chief Executive Officer of MutualOne Bank, has announced the promotion of Pia Cordes to Vice President, Project & Core Banking Manager.

Cordes joined the Bank in 2018 and, prior to her promotion, served as Assistant Vice President, Project and Core Bank Manager. Her new responsibilities include overseeing strategic projects and interacting with key stakeholders by delegating during the project life cycle. She also plays a critical role in maintaining a strong and active relationship with the Bank’s core provider, to facilitate ongoing collaboration, product acquisition, and support, as well as process improvements.

As a member of the Massachusetts Banker Association’s Steering Committee, Cordes works to empower the next generation of leaders in the banking industry.

MutualOne Bank Welcomes Brito to Bank Team

Dr. Kristin Carvalho, President and Chief Executive Officer of MutualOne Bank, has announced the hiring of Gicelle Brito as Vice President, Market Area Commercial Loan Officer.

With extensive experience supporting local businesses and fostering local growth, Brito brings over 15 years of experience to the Bank’s commercial lending team. Before joining MutualOne Bank, she served as Vice President, Commercial Loan Officer at Northern Bank. She holds a bachelor’s degree in business and marketing from Fitchburg State University.

Outside of work, Brito continues to support the community through civic engagement, which includes volunteering as a camp committee member for the Greater Boston YMCA and serving on the Hudson Business Association. Additionally, she is currently involved with Habitat for Humanity Greater Lowell, where she serves as a board member, chair of the golf committee, and a member of the gala committee.

Scam alert: QR code on an unexpected package

Source: Federal Trade Commission

An unexpected package from an unknown sender arrives in your name. You open it and find a note that says it’s a gift, but it doesn’t say who sent it. The note also says to scan a QR code to find out who sent it — or to get instructions on how to return it. Did someone really send you a gift? Or is it an attempt to steal your personal information?

If you know it’s really a gift, you can keep it. But know that the unexpected package could be a new twist on a brushing scam that could steal your personal information.

If you scan the QR code, it could take you to a phishing website that steals your personal information, like credit card numbers or usernames and passwords. It could also download malware onto your phone and give hackers access to your device.

If you scanned the QR code and entered your credentials, like your username and password, into a website, change your password right away. Create a strong password that is hard to guess, and turn on two-factor authentication.

If you’re concerned someone has your personal information, get your free credit report at AnnualCreditReport.com. Look for signs that someone is using your information, like accounts in your name you don’t recognize. (You can get a free credit report every week.)

Also review your credit card bills and bank account statements and look for transactions you didn’t make. And consider taking other steps to protect your identity, like freezing your credit or putting a fraud alert on your credit report.

If you think someone stole your identity, report it, and get a personal recovery plan at IdentityTheft.gov.

What else can you do to protect your personal information? Regularly update your computer software and your phone to get the latest security patches. And learn to recognize a phishing email or text message.

And what about the package? The law says you can keep it as a gift.

Business and government impersonators go after older adults’ life savings

Source: Federal Trade Commission

Scammers posing as government agencies or well-known businesses are increasingly going after retirees’ life savings. They weave a web of lies about some bogus crisis. Then they trick older adults into giving them tens or even hundreds of thousands of dollars.

The scams start with lies designed to create a sense of urgency and fear.

  • Lie #1: Someone is using your accounts. Scammers pretend to be a bank employee with a warning about suspicious account activity. Or claim to be an Amazon rep following up on potentially fraudulent purchases.
  • Lie #2: Your information is being used to commit crimes. Scammers might say they’re with the government and tell their target that their Social Security number is linked to serious crimes.
  • Lie #3: There’s a security problem with your computer. This lie might start with a computer security alert that warns of a hacked computer with a phone number to call for help.

Once they’ve convinced their mark that this crisis is real, they make empty promises and offer fake “help.” They say the only way to get out of the situation is to follow their very specific instructions — which always involve moving money. They tell their target that doing so will protect the money in their accounts or clear their name. Some say they’re helping catch the “real” criminals.

A new FTC data spotlight report, False alarm, real scam: how scammers are stealing older adults’ life savings, shows that reports of losses to business and government imposters filed by older adults (60+) are soaring. Many reported losing tens and hundreds of thousands of dollars. In fact, reported losses of over $100,000 increased nearly sevenfold from 2020 to 2024.

How can you protect yourself from a business or government imposter scam?

  • Never transfer or send money to anyone in response to an unexpected call or message. Even if they claim you’re moving your money to “protect it.”
  • Talk about it with someone you trust. Especially if the stranger on the phone says it’s serious, involves a crime, or claims to be from the government.
  • If you think the message could be real, verify the story. Contact the organization in question using a phone number, website, or email address you know is real. Don’t use the contact information in the unexpected message.

Government agencies will never threaten you, and they’ll never tell you to transfer your money to “protect it,” deposit cash into Bitcoin ATMs, or hand off stacks of cash or gold to a courier. That’s a scam. Report it to the FTC at ReportFraud.ftc.gov.

For more advice, check out How To Avoid Imposter Scams.

Important Information About Federal Payments

Effective September 30, 2025, the Federal Government will discontinue the use of paper checks, and instead will make all payments to individuals and businesses electronically only. According to the U.S. Department of the Treasury, the goal of this change is to improve the security of payments and avoid check fraud.

Customers receiving paper checks from the Government, which may include Social Security payments, veterans benefits or other Federal benefits, can enroll in Direct Deposit, which allows the payment to be deposited directly into your MutualOne Bank checking or savings account. 

To enroll, use one of the following options:

You will need your account number as well as the Bank’s Routing Number: 211371816. 

If you have any questions, or need assistance setting up Direct Deposit, please contact Client Services at (508) 820-4010, or visit one of our offices in Natick or Framingham.

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