EXHIBIT 23.2

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

The Board of Directors
Revere Federal Savings and Loan  Association

     We consent to the use of our report included herein and to the reference to
our firm in the Form  MHC-1,  Form  MHC-2 and  Application   on Form  H-e(1) for
Revere Federal Savings, and any amendments thereto, and in the Prospectus, which
is  part of the  Registration  Statement  on  Form  SB-2  (File  No.  333-63083,
Amendment No. 1) for RFS Bancorp, Inc., under the headings "Experts," "Legal and
Tax Matters,"  "Federal and State Tax  Consequences of the  Reorganization"  and
"Consolidated Statements of Income."

                                         /s/  SHATSWELL, MacLEOD & COMPANY, P.C.


West Peabody, Massachusetts
October 23, 1998