PORTSMOUTH, N.H. – Service CU said yesterday it will acquire two branches along the state’s coast with a merger of $36 million Seacoast CU.
Seacoast CU was chartered in 1966 to serve employees of the local school district. It reported slight losses for 2008, 2009, 2010 and the first quarter of 2011, but has strong net worth of 8.7%.
Service CU, the state’s largest credit union with $1.8 billion in assets, was chartered to serve military and civilian employees at Pease Air Force Base in New Hampshire.
