Two of four steps completed in bid for Massachusetts credit union to buy New Hampshire bank.
Lawyers handling the planned takeover of an ailing New Hampshire bank by a Massachusetts credit union expressed optimism Thursday the deal can clear regulatory hurdles.
The proposed buyout by GFA Federal Credit Union of a troubled New Hampshire savings bank continues to generate industry interest but with a pivotal question: Can the credit union and bank clear the legal hurdles with the NCUA, the Comptroller of the Currency and the FDIC.
The $20 million Filene FCU is tied to the now-shuttered retail chain once operated by credit union pioneer Edward Filene.
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.
Massachusetts CU CEO eyes long regulatory process in proposed takeover of New Hampshire bank.
GFA FCU will seek regulator approval to buy bank in Granite State, just weeks after Michigan credit union completes purchase of Indiana bank.