Massachusetts

Craig Leonard, who has spent a decade at Harvard University Employees Credit Union, will take the helm in July following longtime CEO Gene Foley's retirement.

Some states aren't waiting on the Federal Reserve to help with the historic hits to their budgets. Instead, they're working with a lender that they have a much longer history with: Bank of America.

In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another layer of regulation to the patchwork of state and federal oversight.

The Massachusetts-based credit union said its strong financial position will help it better serve members as the coronavirus crisis deepens.

The Somerville, Mass.-based credit union appointed its VP of lending to serve as temporary CEO following the departure of its longtime leader for another institution.

Jonathan Dowst will become president in July and CEO a year later.

Rui Domingos, who was named as the Lexington, Mass.-based institution's president and CEO, has worked in the industry for almost three decades, most recently at Naveo CU in Somerville, Mass.

Gene Foley joined Harvard University Employees CU as a teller in 1979 and has been CEO since 1994.

Waltham Municipal Employees CU served fewer than 700 members with a total of $8.5 million in assets.

The company acquired ResX Warehouse Lending from People's United Financial.

People's United in Connecticut is letting the loans run off its books as it invests in higher-yielding commercial loans.

The Massachusetts savings bank will gain branches in two communities as part of the acquisition.

The Bay State is the latest to push its lawmakers to modernize how CUs do business in order to help state charters remain competitive with federal charters.

The Mass.-based institution, which recently saw a slight dip in noninterest income, will provide a variety of P&C products for members and nonmembers.

Courtney Fifield, a longtime staffer at Athol Credit Union, was recently appointed president and CEO.

One found a buyer, another announced plans to retire, and others took steps to reinvent their banks.

The company will pay about $58 million in cash for Melrose Bancorp.

The company will pay $122 million for six branches and nearly $1 billion in assets.

Members of Ocean Spray Employees FCU will vote next month on whether to merge into MVCU, which absorbed Bridgewater Credit Union earlier this year.

Tremont CU can now serve the member companies of the Massachusetts Biotechnology Council.