PETERBOROUGH, N.H. – The $429-million GFA Federal Credit Union said it will complete today its acquisition of Monadnock Community Bank here.
It will mark the first purchase of a stock savings bank by a credit union in the United States.
GFA FCU paid $6.4-million for the bank. Monadnock Community Bank was a state-chartered credit union until it converted to a federal savings bank in 1996.
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