New England CUs Once Again in Spotlight for Business Services

BOSTON – In a region of the country weary of bank mergers, several New England CUSOs continue to steal the spotlight for their growing entry into business services. Among them is the four-month old Octant Business Services, LLC, which up until recently, went by MBL Services, LLC, reported the Boston Business Journal. A few months ago, the CUSO added two new CUs – $225 million Granite State Credit Union of Manchester, N.H. and $270 million Bridgewater Credit Union of Bridgewater, Mass – to its list of partners, joining Digital FCU, Marlboro, Mass.; EasCorp,Woburn, Mass.; First Citizens’ FCU, New Bedford, Mass.; Jeanne D’Arc CU, Lowell, Mass.; Northeast CU, Portsmouth, N.H.; and Rockland FCU, Rockland, Mass. Octant President Fred Hashway told the publication that he anticipates another 10 CUs will join the CUSO by year-end. Other CUSOs noted for their launches into business lending were Northeast Member Business Services, LL, which is owned by Worker’s CU; RTN FCU; Metropolitan CU and Unified FCU. The $16 million M/A-COM FCU was also highlighted for its recent launch into business checking. Credit Union Times has previously profiled each of the CUSOs in past articles.