The former Touchstone Federal Credit Union has fully integrated into Hanscom Federal Credit Union as of Oct. 1, completing a process that began in February.
The move gives $1.2 billion Hanscom FCU 2,000 new members and an additional $17 million in assets, as well as staff and facilities from Touchstone’s two branches at Textron Systems in Wilmington, Mass. and Mount Auburn Hospital in Cambridge, Mass.
“We are delighted to warmly welcome these new members,” Paul Marotta, chairman of the board, said in a press release. “We truly hope they take advantage of our wide range of products and services, as well as our network of branches and CO-OP shared branches around the country.”
Touchstone FCU's net income was $37,000 more in 2016 than in 2015 and delinquencies in 2016 were almost $10,000 less than in 2015. In the first quarter of 2017, the Wilmington, Mass.-based CU lost $31,525.