Massachusetts

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.