Nearly a year after tiny Hingham Federal Credit Union legally merged into Liberty Bay Credit Union, the process of integrating the technology required to operate as one credit union finally is complete, the two CUs said Tuesday.
Hingham FCU, Hingham, Mass., had just $50 million in assets and 3,457 members, according to its National Credit Union Administration information page. Liberty Bay CU, headquartered in nearby Braintree, Mass., now has $683 million in assets.
Liberty Bay CU previously had branches in Braintree, Boston and Woburn. The merger of Hingham FCU adds two branches to the credit union’s network – in Hingham and Scituate.
The two CUs merged May 2017.
“While they will see the same familiar faces in their local branches, the former members of Hingham Federal Credit Union will see many enhancements related to the merger, including Liberty Bay’s robust online banking platform and mobile app, Interactive Teller Machines, MoneyLine, and access to the CO-OP Shared Branching Network offering everyday banking transactions at more than 5,000 branch locations worldwide,” the newly combined CU said in a statement.
“The transition went smoothly and we are very happy that the merger has exceeded the expectations of members and employees of both Hingham Federal and Liberty Bay Credit Union,” said Ed Lopes, president and CEO of Liberty Bay Credit Union. “The success of this merger speaks volumes for a promising future of growth for Liberty Bay Credit Union.”
Liberty Bay Credit Union serves all of eastern and central Massachusetts via offices in Braintree, Hingham, Scituate, Boston and Woburn, as well as through its robust online and mobile banking offerings. It celebrated its centennial anniversary in 2017, making Liberty Bay one of the oldest credit unions in New England.