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News Now

Washington
Mass. CU-bank merger on closed agenda
WASHINGTON (4/18/08)—Aspects of a merger plan between Northeast Community CU and Haverhill Bank, under the name Haverhill Bank, were expected to be addressed Thursday during a closed meeting of the National Credit Union Administration (NCUA) Board, but the agency declined to comment on the session. It is NCUA’s general policy not to discuss items on the agenda or action it takes during a closed meeting of the agency’s three board members. However, NCUA may issue a statement in the coming days about the status of the merger. The Massachusetts Division of Banks has accepted public comment on the proposed merger of the $100 million asset credit union and $130 million asset bank. The merger partners have said the move is designed to expand and improve on financial services for area residents.


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