Massachusetts credit union's assumption first of its kind in the United States, credit union's president says.
Massachusetts credit union's CEO says five of eight regulatory approvals now secured.
The $2 billion Landmark Credit Union of New Berlin, Wis., has filed applications with federal and state regulators to buy the $190 million Hartford Savings Bank, a state-chartered mutual savings bank in Hartford, Wis.
Purchase would be third credit union takeover of bank in past year.
Hirings, promotions, career moves.
Two of four steps completed in bid for Massachusetts credit union to buy New Hampshire bank.
The 20,000 member, $353 million GFA Federal Credit Union, headquartered in Worcester Mass., moved a bit closer to finalizing a purchase of a stock-owned thrift when a majority of the bank’s shareholders voted to approve the deal.
Cash requirements could be issue, bank attorney says, adding that he has seen interest in similar possible deals.
Massachusetts credit union's purchase of stock-owned thrift necessitated creation of new application itself from the NCUA, attorney says.
New Hampshire bank becomes second savings bank to be purchased by a credit union.