Pictured (from l to r ) Michael J. Davis, WMECU CEO/Treasurer; Wilfred Petipas, WMECU Board of Directors Chairman; Arthur R. Osborn, RTN Board of Directors Chairman; Richard E. Wright, RTN Treasurer/CEO.

The merger of two Waltham-based credit unions is now complete. Members of Waltham Municipal Employees Credit Union voted on Jan. 21 to approve a merger with RTN Federal Credit Union. The merger became effective Feb. 1.

“This is an exciting opportunity to deepen our connection with the city of Waltham,” Richard Wright, RTN Treasurer and CEO, said in a statement. “We hope our new members will enjoy the ease of conducting business in our flagship branch right here in Waltham, with access to a wider offering of products and services.”

WMECU had about $8.5 million in assets and 900 members. The WMECU branch on Lexington Street will close on Feb. 29, and members will be serviced through the Waltham branch. Once RTN completes a system consolidation, scheduled for May 1, former WMECU members will be have access to RTN products and services at community branches.

“We are pleased to offer members expanded products and services, along with more branch access, and greater convenience with the same individualized attention,” Michael Davis, WMECU CEO and treasurer, said in a statement. “Staff and management are committed to a seamless transition for our members.”

RTN has 19 branches in eastern and central Massachusetts offering mortgage loans, financial planning, insurance products, debit and credit cards. With more than $900 million in assets, RTN’s membership includes Raytheon, Brigham and Women’s Hospital, and about 1,100 other sponsor groups.

Watham-based Credit Unions Complete Merger

by Banker & Tradesman time to read: 1 min
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