WOBURN, Mass.—The $58.1-million Common Trust Federal Credit Union plans to merge with $27.9 million Wellesley Municipal Employees FCU, based in Wellesley, Mass., the Common Trust reported.
The deal, which has been approved by regulatory agencies and members, is expected to be finalized at the end of August.
“We’re excited to welcome the members of Wellesley Municipal Employees FCU into the Common Trust family,” said Jim McCorkle, president and CEO of Common Trust FCU. “This partnership strengthens both institutions and enhances our ability to serve members with broader products, better technology, and an even deeper commitment to personalized, local service.”
The combined organization will operate under the Common Trust Federal Credit Union name.