Although the two institutions legally completed a merger almost a year ago, Liberty Bay Credit Union has at last integrated Hingham Federal Credit Union and opened as one institution earlier this week.

Liberty Bay announced Monday it had completed over Easter weekend the back-end merger that was required to operate as one credit union.

“The transition went smoothly and we are very happy that the merger has exceeded the expectations of members and employees of both Hingham Federal and Liberty Bay Credit Union,” Ed Lopes, president and CEO of Liberty Bay Credit Union, said in a statement. “The success of this merger speaks volumes for a promising future of growth for Liberty Bay Credit Union.”

Liberty Bay had almost $694 million in assets for nearly 26,800 members as of June 2017. Hingham FCU had about $50 million in assets for 3,457 members. Before the merger, Liberty Bay had branches in Braintree, Boston and Woburn. The merger with Hingham FCU added two more in Hingham and Scituate.

At the time the merger was announced, the two institutions said all of Hingham FCU’s management and staff would be retained by Liberty Bay and that three Hingham FCU directors would join the Liberty Bay Credit Union board of directors.

Liberty Bay Credit Union Integrates Hingham Federal Credit Union

by Banker & Tradesman time to read: 1 min
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