BOSTON–City of Boston Credit Union reported it is merging in two credit unions.
The $395-million City of Boston CU said members have voted in favor of merging in $23-million Chadwick CU in Norwood, Mass., as well as the $23-million Northeastern University Credit Union in Boston.
The new CUs will add approximately 4,000 members to the 26,000 who currently belong to City of Boston Credit Union.
The mergers are scheduled to take place on Jan. 1, 2019. When complete, City of Boston CU will have eight branches and approximately 90 employees. The combinations still require regulators’ approval.
“The City of Boston Credit Union is growing but our promise to our members remains the same: reliable, personal service and solutions for all of life’s events and goals,” said Daniel Waltz, president/CEO, City of Boston Credit Union, in a statement. “We’re thrilled to welcome new members from Chadwick and Northeastern and look forward to building their trust through our relationship-driven approach to member service.”