The $779 million Charter Oak Federal Credit Union in Groton,Conn., said Thursday it has gotten final regulatory approval andwill merge the $1.7 million Quiet Corner Community Credit Union onJune 30.
|The proposed merger was announced in February and would create Charter Oak's13th branch in New London and Windham counties. Its soleemployee would continue to operate the branch, Charter Oak saidthen.
|The merger won approval from Quiet Corner's 600 members in Apriland now has been approved by the Connecticut Department of Bankingand the NCUA, Charter Oak FCU said.
|“Our merger with Quiet Corner opens up a whole new banking arenafor Charter Oak in the Putnam, Thompson and Woodstock areas – andbeyond,” said Brian A. Orenstein, Charter Oak's Chief ExecutiveOfficer.
|Quiet Corner Community CU was established in 1955 and servesmembers in the Putnam, Thompson, Grosvenordale, Pomfret andWoodstock areas.
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