Hirings, promotions, retirements among credit union people.
Michael Bell helped with MECU Baltimore buy, sees more of the same happening down the road.
Industry observers point to credit unions buying banks, note that Boston conversion involves unique state charter.
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 article on page 3 in the Sept. 26 issue [“Portfolios Can Gum Up the Merger Works”] did the industry a service by pointing out oft overlooked difficulties in merging credit card programs in an overall credit union merger.
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.
New Hampshire bank becomes second savings bank to be purchased by a credit union.
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.