DCU Merger Gets Regulatory Approval
The nation’s credit union regulator has approved the proposed merger between Marlborough-based Digital Federal Credit Union and California-based First Tech Federal Credit Union.
The nation’s credit union regulator has approved the proposed merger between Marlborough-based Digital Federal Credit Union and California-based First Tech Federal Credit Union.
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.
The fall opened with flurry of bank M&A in Massachusetts, and more deals could be on the horizon as the Federal Reserve follows through on promised rate cuts.
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.