NCUA Approves HarborOne Conversion

The National Credit Union Administration has certified last month's member vote at HarborOne Credit Union in Brockton, Mass., to convert to a mutual savings bank.

The $2 billion-asset credit union also received notification that the Massachusetts Division of Banks had found no reason to disallow the vote.

Finally, the credit union received notification from the Federal Deposit Insurance Corp. that its application was officially accepted for processing. HarborOne must wait for FDIC approval before completing what would become the largest recorded credit union conversion.