Jeanne D’Arc Credit Union in Lowell became the first Massachusetts credit union to take advantage of new interstate branching rules when it opened its newest branch in Nashua, New Hampshire last week.

The rule, passed last fall, allows Massachusetts credit unions to apply to the state Division of Banks to establish a branch in New England or New York within 100 miles of its main office.

“We couldn’t be more excited to officially open our new Nashua branch,” President and CEO Mark S. Cochran said in a statement. “This isn’t just a new branch for us, but an extension of our mission, to help members make smart financial choices, to a new state and a new community. We are honored to now be a part of the Nashua community.”

The credit union was established in 1912 and today has more than 75,000 members and $1.2 billion in assets. In a statement, Cochran said that Jeanne D’Arc has 4,000 members in Nashua and 8,000 in Southern New Hampshire.

The credit union applied to the state banking regulator last summer for the new branch and received approval in January. Construction began in April, and it enlisted NorthPoint Construction Management for the project.

To date, Jeanne D’Arc is the only Massachusetts credit union to have applied to the banking division for permission to establish an out-of-state branch, according to the division’s website.

The new branch, the credit union’s 10th in total, occupies 2,500 square feet in the Tara Commons plaza on Spit Brook Road and has two 24-hour ATMs, two drive-up teller windows, teller stations, member service offices and a coin machine.

Under New Interstate Branching Rules, JDCU Opens New Hampshire Branch

by Laura Alix time to read: 1 min
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