The $402 million Crescent Credit Union said Friday it will bemerging the $10 million Brockton Postal Employees Credit Union,both in Brockton, Mass.
|The merger of the state-chartered institutions in pendingregulatory and member approvals and is expected to be completed bythe end of March, Crescent CU said.
|“I can't think of a more logical and mutually beneficialcombination of strengths as this merger. Both credit unions arewell capitalized, operate under similar charters and are located inBrockton,” said Crescent President/CEO Robert W. Gustafson.
|Brockton Postal Chairman Edward Kenney said, “Members willbenefit from access to Crescent's eight branch locations, a largerarray of products and services and the convenience of ATM, onlinebanking and electronic banking options.”
|The 18,000-member Brockton Postal was established in 1923 andprimarily serves current and retired employees of the USPS andgovernment employees from inside the postal facility on LibertyStreet in Brockton. The credit union's ATM there will continue tooperate under the Crescent name, the surviving credit unionsaid.
|The46,800-member Crescent was founded in 1919 and now servesanyone who lives or works in Plymouth, Bristol, Norfolk orBarnstable counties in Massachusetts.
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