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Although HarborOne Credit Union members voted to approve converting their credit union charter to a co-operative bank charter, it may take weeks or months to complete the regulatory hurdles, the Boston-area credit union said.

The $1.9 billion HarborOne in Brockton, Mass., said it will be submitting a certified copy of the member vote results and other documents on March 25 to the NCUA and the Massachusetts Division of Banks, which is the first regulatory step in the process that will allow the credit union to convert into a co-operative bank.

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Peter Strozniak


Credit Union Times

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