Beacon Hill Could Allow Credit Unions to Absorb Mutual Banks
A bill that would allow for Massachusetts credit unions to take over mutual banks passed its first hurdle yesterday: Getting a committee hearing.
Merrimack Valley Credit Union and Cabot Boston Credit Union Merger Approved
The members of Merrimack Valley Credit Union and Cabot Boston Credit Union have voted in favor of merging the two financial organizations.
The $28B Merger That’s Not About Scale
Once DCU and California-based First Tech Credit Union join up, the combined entity will be one of the five or six biggest credit unions in the nation. But to its future president and CEO, Shruti Miyashiro, this deal wasn’t about chasing size.
DCU to Merge with Bay Area Credit Union
The new entity will emerge as a $28.7 billion credit union serving nearly two million members with more than 50 branches in eight states.
Pittsfield-Arrha Merger Elicits Mixed Feelings from Industry Leaders
Springfield’s Arrha Credit Union will be merging into Pittsfield Cooperative Bank, with a prominent credit union leader expressing “disappointment.”
Arrha Credit Union, Pittsfield Cooperative Bank to Merge
Springfield-based Arrha Credit Union and Pittsfield Cooperative Bank are seeking to merge, the first example of this controversial deal type in Massachusetts in recent years.
Finalized Merger Makes New Top-Five CU in Mass.
After finalizing its merger with Waltham-based RTN Federal Credit Union on Thursday, Merrimack Valley Credit Union is now one of the state’s five largest credit unions.
Mergers, Consolidation Highlight Banking’s 2022
While the Massachusetts banking and lending industries had entered 2022 expecting to feel effects from inflation and potentially higher interest rates, the rapid changes to economic conditions came without warning.
More Small Credit Unions Look to Merge
Massachusetts has at least six planned or recently completed credit union mergers this year, with some of the state’s smallest institutions continuing to seek out combinations.
A Champion for Small Credit Unions
As president and CEO of a credit union with one branch and $49 million in assets and board chair of the CCUA, Ron Draper wants to see small credit unions survive.
St. Jean’s Credit Union to Acquire Revere ME FCU
Lynn-based St. Jean’s Credit Union has agreed to acquire Revere Municipal Employees Federal Credit Union, adding to a growing list of small credit unions in Massachusetts combining with a larger institution.
Berkshire Credit Unions Complete Merger
Amid the merger activity involving some of the largest Massachusetts-based banks, the state has also seen some credit unions combine.
Metro Credit Union Merges With Gloucester Municipal CU
The state’s first credit union merger in more than a year will take place today when Gloucester Municipal Credit Union merges into Chelsea-based Metro Credit Union.
Metro Credit Union to Merge with Gloucester Municipal
Chelsea-based Metro Credit plans to merge with Gloucester Municipal Credit Union in what would be Massachusetts’ first credit union merger since the start of the pandemic.
Watham-based Credit Unions Complete Merger
The merger of two Waltham-based credit unions is now complete. Members of Waltham Municipal Employees Credit Union voted on January 21 to approve a merger with RTN Federal Credit Union.
Regulation, Competition Drive Credit Unions to Merge
Massachusetts has fewer credit unions compared to last year, with more than a dozen institutions completing or planning mergers in 2019 under pressure from many of the same forces plaguing banks.
Sharon Credit Union and Crescent Credit Union to Merge
Sharon Credit Union and Brockton-based Crescent Credit Union are planning to merge, to form a new entity with more than $1 billion in assets.
