Suburban Boston credit union says board gave go ahead Thursday night.
Vote on plan to proceed with conversion to mutual bank was scheduled Wednesday.
GFA FCU CEO said her credit union is showing by example that credit unions can work with community banks as it moves toward purchase of a New Hampshire mutual.
Now there are two large credit unions, the $1.8 billion HarborOne Credit Union of Brockton, Mass., and the $1.5 billion Technology CU of San Jose, Calif., making plans to convert to mutual bank charters.
The Massachusetts Division of Banks provided new legal detail Thursday on the notice by HarborOne CU on its plans to convert to a mutual savings bank this fall.
"Cooperative bank charter" may exist only in Massachusetts law; CEO says "we have to compete with everyone in the market."