Connex Merges St. Boniface CU in Connecticut
The $380 million Connex Credit Union of North Haven, Conn., said Thursday it has now merged St. Boniface CU of New Haven in a deal made effective today.
The $400,000 CU has been operating out of the home of the CEO, Susan Smith, following the church's closing some months ago.
The merger is the first of this kind for Connex whose officials said there are no current plans for other consolidations "though we are always ready for opportunities."
St. Boniface was chartered in 1934 and has 100 members, officials said.
Smith said the CU had for some time been scouting for a partner "and felt Connex could provide more services than what we were able to provide to our members. Connex also has a local presence in New Haven and that played an important role in the selection process."