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News Now

CU System
Two Connecticut CUs merge
NORTH HAVEN and NEW HAVEN, Conn. (4/5/10)--Two Connecticut credit unions have been granted approval to merge, according to the Connecticut Department of Banking. Connex CU, a $386 million asset credit union based in North Haven, and St. Boniface Parish FCU, based in New Haven, received approval on March 3, according to a bulleting on the state regulator's website. The surviving credit union will be called Connex CU. Connex CU President/CEO John Edwards, in a statement to local media, said the merger will help grow Connex's membership base and will offer St. Boniface Parish members more products and services (The New Haven Register April 2). St. Boniface Parish CU has more than 100 members and was operated from the home of its CEO, Susan Smith. Smith told the publication the parish had closed. The credit union sought a partner and Connex had a local presence in New Haven, she added. Connex CU is the state's fifth-largest credit union, with about 40,000 members and seven branches.


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