First Credit Union Just The Latest To Enter Into Merger
St. Mary's Bank Credit Union, the nation's first credit union, said it will absorb via merger the $25-million Gateway Credit Union. GCU serves 8,000 members and was established in 1961 in Nashua, N.H. and is now open to the local community. The $500-million St. Mary's Bank said the merger will give it a foothold in the Nashua region. The merger must still be approved by members of Gateway CU and regulators.