With its state charter now approved, Merrimack Valley Credit Union is pursuing its merger with Bridgewater Credit Union for the second time this year.

Members of BCU will vote on the proposed merger in a special meeting on Oct. 29, according to BCU’s website. The move would create one of the top 10 largest credit unions in Massachusetts with more than $950 million in assets, 30,000 members and 10 branches.

MVCU and BCU initially announced plans to merge in March, with BCU President and CEO John Howard set to become president and CEO of the new entity and MVCU President and CEO Peter Matthews Jr. to retire.

But a federal court decision got in the way, striking down portions of a rule proposed by the National Credit Union Administration that would have made it easier for credit unions to expand their field of membership.

One of the portions struck down would have automatically qualified a combined statistical area or a contiguous portion of it with fewer than 2.5 million people to be a local community.

At the time MVCU was under a federal charter and therefore subject to the NCUA court decision. Additionally, the merger between MVCU and BCU would create an entity that is more spread out geographically than most credit unions in the state.

Quincy and Andover, the two closest coverage areas between MVCU and BCU, are more than 30 miles apart, while Derry, New Hampshire and Dartmouth, Massachusetts, the two farthest coverage areas between the two entities, are more than 100 miles away from one another.

Under federal charter guidelines, BCU would have had to remove Barnstable County from its field of membership and would of no longer been insured by the Massachusetts Credit Union Share Insurance Corp., according to BCU’s website.

To make the merger more feasible, the two entities withdrew the original merger application and MVCU applied for a state charter, which was recently approved. Field of membership is regulated differently under state rules and BCU would be allowed to keep Barnstable County, as well as still have MSIC insurance, according to BCU’s website.

If approved, the deal is expected to be completed in early 2019. The BCU name will be used on the branches in the southern region and the MVCU name will be used on the branches in the northern region. BCU also said on its website it expects no staff layoffs as a result of the merger.