The $402 million Crescent Credit Union said Friday it will be merging the $10 million Brockton Postal Employees Credit Union, both in Brockton, Mass.
The merger of the state-chartered institutions in pending regulatory and member approvals and is expected to be completed by the end of March, Crescent CU said.
“I can’t think of a more logical and mutually beneficial combination of strengths as this merger. Both credit unions are well capitalized, operate under similar charters and are located in Brockton,” said Crescent President/CEO Robert W. Gustafson.
Brockton Postal Chairman Edward Kenney said, “Members will benefit from access to Crescent’s eight branch locations, a larger array of products and services and the convenience of ATM, online banking and electronic banking options.”
The 18,000-member Brockton Postal was established in 1923 and primarily serves current and retired employees of the USPS and government employees from inside the postal facility on Liberty Street in Brockton. The credit union’s ATM there will continue to operate under the Crescent name, the surviving credit union said.
The 46,800-member Crescent was founded in 1919 and now serves anyone who lives or works in Plymouth, Bristol, Norfolk or Barnstable counties in Massachusetts.