Two Vermont credit unions, the $43 million Members Advantage Community of Barre and the $11 million Caswell, Burlington, are merging to form the sixth largest in the state.
Members of both CUs approved the merger at special meetings last week with the transaction already winning clearance of regulators.
MACCU with 8,200 members has two branches in White River Junction and Barre while Csawell with 2,700 members has one office.
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"Because both credit unions share fields of membership based in the education industry, and operate on the same core data processing system, the transition period is expected to be relatively seamless," said a MACCU statement.
Caswell Manager Kathleen Cote said the merger would permit the CU to offer a broader range of products. "Because of our small size, we've been unable to offer home equity, money market accounts, and longer term share certificates," she said.
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