Chesapeake Bank and Reading Cooperative Bank Partner with Rebolt to Launch First Bank-Owned Payment Utility for Small Business
Rebolt’s bank-owned utility gives community banks embedded modern payment tools while keeping small business transactions inside the banking relationship.
Rhea-AI Summary
Chesapeake Financial Shares (CPKF) and Reading Cooperative Bank have gone live with Rebolt's community bank-owned payment utility for small businesses. The API-first platform embeds instant payments, PayPal and Venmo transfers, and stablecoin network connectivity directly into banks' existing digital banking systems without replacing current cores or renegotiating vendor contracts. COCC is live as an integration partner, Jack Henry integration is available, and additional bank implementations are underway. The two founding banks helped shape Rebolt's development, with availability to their business customers anticipated in Fall 2026.
Positive
- First banks live on Rebolt’s community bank-owned utility with Chesapeake Bank and Reading Cooperative Bank
- Integrations available through COCC and Jack Henry, allowing use with existing core and digital platforms
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
KILMARNOCK, VA / ACCESS Newswire / September 21, 2026 / Rebolt Financial Technology announced the first financial institutions, Chesapeake Bank and Reading Cooperative Bank, are live on its community bank-owned payment utility that is purpose-built for small business banking. Additional banks are in implementation, covering both COCC and Jack Henry cores.
The launch addresses a gap community bankers have watched widen for years. Small businesses are turning to software providers and payment apps outside of the bank because they need easy, instant payment options. Rebolt implements those capabilities directly within the bank's online banking environment without requiring institutions to replace existing infrastructure or renegotiate vendor relationships.
"Business owners don't want more payment rails; they want their bank to make payments effortless," said Julie Thurlow, CEO of Reading Cooperative Bank and Rebolt Board Member. "Every time a customer leaves our site to move money, we're handing that relationship moment to someone else. Rebolt puts community banks back at the center of that experience, where we belong."
Designed to Work with What Banks Have Already Built
Rebolt's API-first platform integrates with existing core systems, digital banking environments, and payment hubs. It doesn't try to displace billpay, ACH, or wire workflows, and it does not require renegotiating current vendor relationships. It extends what's already in place while adding capabilities business customers are already demanding: payments to PayPal and Venmo accounts, integration with stablecoin networks, and instant payments, all inside the bank's digital banking interfaces.
"Small business owners need payment tools that keep pace with the speed of their business," said DJ Seeterlin, Chief Innovation and Strategy Officer at Chesapeake Bank. "Rebolt allows customers to send money through the channels they already use while keeping those transactions connected to their trusted banking relationship. It's a faster, simpler way to move money, reduce friction, and help business owners spend less time managing payments and more time growing their businesses."
The platform is available today through integrations with leading core and digital banking providers. COCC, a leading core technology provider for community banks and credit unions, is live as an integration partner, giving its client institutions immediate access through the platforms they already operate on. Jack Henry integration is also available, with additional partnerships underway.
Reading Cooperative Bank and Chesapeake Bank, two founding partners and institutions that helped shape Rebolt's development, are live today with availability anticipated for business customers in Fall 2026.
A Utility Model Built to Last
Most payment innovation in banking follows the same pattern: a technology company builds a product, sells it to banks, and captures the margin in between. Rebolt was structured to break that pattern.
As a community bank-owned utility, Rebolt's pricing, product roadmap, and governance are shaped by the institutions on the platform, not by outside investors looking for an exit.
Rebolt is building on-ramps to major stable-coin networks, instant payment rails, and leading Software-as-a-Service providers.
Community Banks are Ready to Improve Experiences
The small business payment gap is not a new problem. What's new is that community banks now have a solution they own. Rebolt is actively partnering with financial institutions ready to bring differentiated payment capabilities to their business customers and reclaim the digital experience they have been ceding to fintechs and big banks for a decade.
About Rebolt Financial Technology
Rebolt Financial Technology is a community bank-owned payment utility that brings modern payment capabilities - including PayPal, Venmo, stablecoin networks, and instant payments - to small business customers through the financial institutions that serve them. Built on a flexible API framework and integrated with leading core and digital banking platforms, Rebolt extends what community banks have already built rather than replacing it. Incubated within Alloy Labs, Rebolt is governed by and for the community financial institutions it serves. Learn more at www.rebolt.com.
About Chesapeake Bank
Chesapeake Bank, founded in 1900, is a subsidiary of Chesapeake Financials Shares (CFS:CPKF), headquartered in the Northern Neck, also serving the Middle Peninsula, Williamsburg, Richmond, Chesterfield, and Hampton Roads communities. The company also offers card processing and accounts receivable financing. Named by American Banker as one of the Top Community Banks since 2007, and a Best Bank to Work For since 2013, employing 290+. Visit: www.ches.bank and www.chesapeakefinancialshares.com
About Reading Cooperative Bank
Owned by the people who bank here, Reading Cooperative Bank is a Massachusetts-based mutual bank that has spent 140 years staying close to customers, understanding their needs, and innovating to serve our communities better. Visit readingcoop.com to learn more.
Media Contact
Jason Henrichs, CEO, Rebolt Financial Technology, jason@reboltft.com
Matthew Suttmiller, AVP Director of Marketing, msuttmiller@ches.bank
Shanna Cahalane, SVP, Chief Communications & Community Strategy Office
SOURCE: Chesapeake Financial Shares Inc.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How does Rebolt integrate with existing community bank technology?
Rebolt uses an API-first platform that connects to banks' existing core systems, digital banking environments, and payment hubs. It extends current bill pay, ACH, and wire workflows rather than displacing them and does not require banks to renegotiate existing vendor relationships.
What payment capabilities does Rebolt add for small business customers?
The utility enables small businesses to make payments to PayPal and Venmo accounts, connect to stablecoin networks, and use instant payments, all from within their bank’s digital banking interfaces.
When will Chesapeake Bank and Reading Cooperative Bank customers gain access to Rebolt?
Both Chesapeake Bank and Reading Cooperative Bank are live on the platform, with availability for their business customers anticipated in Fall 2026.
What is meant by Rebolt being a community bank-owned utility?
Rebolt is structured so that pricing, product roadmap, and governance are shaped by the institutions on the platform, rather than by outside investors. The company describes this as breaking the typical model where a technology provider captures the margin between banks and end customers.