Mass. Merger: Hanscom FCU Takes in North Shore Manufacturers FCU
The $5 million, 1,049-member North Shore Manufacturers Federal Credit Union in Beverly, Mass., has merged with the $1 billion, 48,671-member Hanscom Federal Credit Union in Hanscom Air Force Base, Mass.
NSMFCU merged with Hanscom FCU because it was becoming increasingly difficult for the very small credit union to compete, the credit unions said. It also struggled financially over the past few years.