BENNINGTON, Vt. -- Heritage Family CU has merged with the Central Vermont Public Service Employees CU, the one-time $20 million Rutland credit union that has reported losses for the past four years.
The smaller credit union served employees and retirees of Central Vermont Public Services, VELCO and the Home Service Store. It’s 1,750 members became part of HFCU, which has about 35,000 members, on June 1.
Heritage Family was chartered in 1956 as the Ludlow-Rutland General Electric Employees’ CU. The name was changed in 1994 to better reflect the make-up of the membership, which eventually included a community charter. The credit union operates from Addison County south.