New England's second largest credit union, the $1.9 billion HarborOne Credit Union of Brockton, Mass., is formally moving ahead with a conversion to a mutual savings bank following a vote of its board on Wednesday night.
In a formal statement Thursday, the suburban Boston CU said it "voted unanimously to begin the process of applying for a cooperative bank charter."
The statement stressed the "approval to proceed is one first step in a long process and charter change must be approved by a vote of our members."
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
