Obituary for Frank "Koko" Anthony Cocco (Cocco)
Frank “Koko” Cocco, 92, of West Long Branch, passed away on Wednesday, March 22, 2023.
He was born in Jersey City to Italian immigrants, Mary and Angelo Cocco. He lived in Long Branch for 30 years before moving to West Long Branch.
In both his professional and personal life, Frank earned a reputation of unshakeable integrity and honesty, and his modest unassuming nature and great sense of humor made him instantly likeable.
Professionally, Frank was known for his major contributions to the banking industry.
He began his career working for Commercial Trust Bank of Jersey City, NJ (and subsequently United Jersey Bank or UJB, and Bank of America), where he rose to the position of Senior Vice President of retail lending by the mid-1980s. In 1980, as a vice president for Commercial Trust company, Frank got the idea to convert the bank’s unsecured overdraft banking program to a secured credit line that would provide a revolving line of personal credit secured by the equity in a customer’s home (Home Equity Credit Line). The concept was considered an original and the product, when formally introduced by Commercial Trust in August 1982, was the first of its kind in the nation. In the early 1980s, Frank designed a unique, rate sensitive 90-day certificate of deposit with a negative margin tied to the prime rate. It was introduced by Commercial Trust company as the “Can’t Lose C.D.”, the very first rate sensitive variable rate certificate of deposit in the nation. Soon after UJB adopted the concept as the “Sure Win C.D.”
Later in his career, the New Jersey State Senate and General Assembly adopted a joint resolution formally recognizing Frank’s development and introduction of the “Home Equity Credit Line” and the “Sure Win CD”, as well as many other accomplishments.
Frank was also an adjunct professor at Saint Peter’s University in Jersey City, and occasionally lent his expertise to local financial panel broadcasts. Frank accomplished all this with only a high school diploma, but later earned related credits at Brookdale Community College, maintaining a 4.0 average all while working fulltime.
On a more personal level, Frank was a life-long fitness enthusiast. As a teen, Frank was a member of the legendary “Jersey City Destroyers” football team, and he excelled in both weightlifting and bodybuilding competitions. In his early 20s, Frank even tried his hand at stock car racing at Jersey City’s Roosevelt Stadium. From his teens well into his 80s, he trained at various local gyms, most recently the Jersey Strong Gym in Ocean NJ. He truly appreciated the friends and acquaintances he made along the way. And everywhere he went, he was admired by all for his interesting stories and great sense of humor. He was a member of the Italian American Memorial Association (IAMA) in Long Branch.
Surviving is his loving wife of 67 years, Rita Giani Cocco whom he met at Palisades Park; daughter, Rita A. Cocco (Paul Habermann); sons, Paul and Christopher Cocco and his granddaughter, Alexis.
Relatives and friends are invited to visit from 4-7 pm Monday at the Fiore Funeral Home, 236 Monmouth Road, Oakhurst, Ocean Township. Funeral service will be held at 11 am on Tuesday at the funeral home followed by entombment at Woodbine Cemetery in Oceanport. The Cocco family has requested that visitors wear a facial mask for all services. For condolences, please visit www.fiorefuneralhomes.com.
He was born in Jersey City to Italian immigrants, Mary and Angelo Cocco. He lived in Long Branch for 30 years before moving to West Long Branch.
In both his professional and personal life, Frank earned a reputation of unshakeable integrity and honesty, and his modest unassuming nature and great sense of humor made him instantly likeable.
Professionally, Frank was known for his major contributions to the banking industry.
He began his career working for Commercial Trust Bank of Jersey City, NJ (and subsequently United Jersey Bank or UJB, and Bank of America), where he rose to the position of Senior Vice President of retail lending by the mid-1980s. In 1980, as a vice president for Commercial Trust company, Frank got the idea to convert the bank’s unsecured overdraft banking program to a secured credit line that would provide a revolving line of personal credit secured by the equity in a customer’s home (Home Equity Credit Line). The concept was considered an original and the product, when formally introduced by Commercial Trust in August 1982, was the first of its kind in the nation. In the early 1980s, Frank designed a unique, rate sensitive 90-day certificate of deposit with a negative margin tied to the prime rate. It was introduced by Commercial Trust company as the “Can’t Lose C.D.”, the very first rate sensitive variable rate certificate of deposit in the nation. Soon after UJB adopted the concept as the “Sure Win C.D.”
Later in his career, the New Jersey State Senate and General Assembly adopted a joint resolution formally recognizing Frank’s development and introduction of the “Home Equity Credit Line” and the “Sure Win CD”, as well as many other accomplishments.
Frank was also an adjunct professor at Saint Peter’s University in Jersey City, and occasionally lent his expertise to local financial panel broadcasts. Frank accomplished all this with only a high school diploma, but later earned related credits at Brookdale Community College, maintaining a 4.0 average all while working fulltime.
On a more personal level, Frank was a life-long fitness enthusiast. As a teen, Frank was a member of the legendary “Jersey City Destroyers” football team, and he excelled in both weightlifting and bodybuilding competitions. In his early 20s, Frank even tried his hand at stock car racing at Jersey City’s Roosevelt Stadium. From his teens well into his 80s, he trained at various local gyms, most recently the Jersey Strong Gym in Ocean NJ. He truly appreciated the friends and acquaintances he made along the way. And everywhere he went, he was admired by all for his interesting stories and great sense of humor. He was a member of the Italian American Memorial Association (IAMA) in Long Branch.
Surviving is his loving wife of 67 years, Rita Giani Cocco whom he met at Palisades Park; daughter, Rita A. Cocco (Paul Habermann); sons, Paul and Christopher Cocco and his granddaughter, Alexis.
Relatives and friends are invited to visit from 4-7 pm Monday at the Fiore Funeral Home, 236 Monmouth Road, Oakhurst, Ocean Township. Funeral service will be held at 11 am on Tuesday at the funeral home followed by entombment at Woodbine Cemetery in Oceanport. The Cocco family has requested that visitors wear a facial mask for all services. For condolences, please visit www.fiorefuneralhomes.com.