One year after converting to a bank charter, HarborOne is not as profitable as hoped.
When the business day began on July 1, the $1.8 billion HarborOne Credit Union in Brockton, Mass., one of the oldest credit unions in the country, opened its doors as HarborOne Bank.
Boston-area credit union, one of nation's oldest, secures final piece in FDIC approval and making the switch over the weekend.
FDIC nod all that remains before Boston-area credit union completes largest charter switch yet.
Richard S. Garabedian, a Washington attorney who specializes in credit union charter conversions, doesn’t think HarborOne Credit Union’s conversion to a state co-operative bank, approved by its members last Monday, will trigger a wave of credit union charter conversions.
Industry observers point to credit unions buying banks, note that Boston conversion involves unique state charter.
Regulatory hurdles remain after Boston credit union's members approve change to co-operative bank charter.
Boston-area credit union founded in 1917 now to make move to mutual co-operative bank charter.
Members will cast their vote Monday on whether to convert the $1.8 billion HarborOne CU in Brockton, Mass., to a mutual co-operative bank charter.
Special meeting date falls 13 months after Boston-area credit union first announced its intentions.