NationsHeritage Federal Credit Union to merge with HarborOne Credit Union
Brockton, Massachusetts – June 1, 2009 – NationsHeritage Federal Credit Union and HarborOne Credit Union said that their proposal to merge has been approved by members of each credit union and has been cleared by the Massachusetts Division of Banks and the National Credit Union Administration, with HarborOne Credit Union as the continuing credit union.
NationsHeritage is a federally chartered credit union based in Attleboro, MA with assets of $86 million and deposits of $64 million as of March 31, 2009. It has three branch locations in Attleboro and Mansfield. The combined credit unions will solidify HarborOne as the leading credit union in Southeastern Massachusetts with 15 branch offices and 28 ATMs serving Plymouth, Norfolk, Bristol and Barnstable counties.
James W. Blake, President and CEO of HarborOne stated, “This merger is a natural and complementary extension of our market area and I am pleased that we will add three branch locations to our franchise. Consumer and business members of both institutions will benefit through an expanded branch distribution network, a continuing commitment to communities we serve and a combination of similar management philosophies. NationsHeritage, formerly TI Federal Credit Union, was founded in 1960 and has a long standing commitment to its members, employees and communities. HarborOne has thrived as a community-based financial institution with similar commitments for over 90 years.”
Maureen G. Tebo, President and CEO of NationsHeritage said, “We are very pleased so many of our members agreed with our plan to merge with HarborOne. Members and employees of NationsHeritage will greatly benefit from this transaction. I am excited that we will join HarborOne and extend NationsHeritage’s branch and ATM network. We believe that this combination with a strong community-focused institution with an adjacent franchise will enhance customer service and retain local jobs. In fact, we have committed that all NationsHeritage employees will be offered positions with HarborOne and we hope to ultimately provide enhanced growth opportunities for our employees as we become part of a much larger organization. HarborOne’s knowledge of our market and their commitment to customers and employees makes this an ideal fit.”
NationsHeritage will continue to operate under its own name until the systems integration is completed, scheduled for August 3, 2009. At that time, NationsHeritage branches will become HarborOne branches and NationsHeritage members will have access to 12 additional branch locations and 23 additional ATMs and HarborOne members will have access to 3 additional branch locations and 5 additional ATMs. For now, NationsHeritage and HarborOne members should continue to bank as normal at their respective branch locations. Branches will continue to be open during the same business hours, served by the same courteous professionals. By early summer, NationsHeritage members will receive more information about HarborOne’s products and services and details about the integration of their accounts and the changeover to HarborOne.
“Both HarborOne and NationsHeritage are healthy, financially sound organizations that share a common vision,” said James W. Blake, President and CEO of HarborOne. “Both organizations have made the quality of member service a top priority and both are committed to the communities where their members and employees live and work. I’m very excited about this merger and I’m confident that our combined organization will be a success.”
With $1.8 billion in assets, HarborOne Credit Union is the largest state-chartered community credit union in New England and one of the top 100 in the country. HarborOne serves the financial needs of consumer and business banking customers who live or work in Bristol, Norfolk, Plymouth and Barnstable counties through a network of 12 full-serve branches, and a mortgage office in Centerville. HarborOne also operates a limited-service branch at Brockton High School and 10 free standing ATMs in addition to an ATM at every full service branch. It recently received its 5th consecutive “Outstanding” rating for performance on the Community Reinvestment Act (CRA) from the Massachusetts Division of Banks.
NationsHeritage Federal Credit Union membership has been available to anyone who lives, works, attends school or worships in Seekonk, Rehoboth, Attleboro, North Attleboro, Norton, Mansfield, Foxborough, Wrentham, or Plainville MA. Also eligible for membership are their parents, grandparents, spouses, children, grandchildren, brothers, sisters and/or household members including roommates, whether or not they also live, work, attend school or worship in the aforementioned communities.
