NSMFCU Merges With Hanscom
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. as of April 1.
The credit unions said that the difficulty for a small credit union to compete led to the merger. NSMFCU struggled financially over the past few years.