Sharon Credit Union and Crescent Credit Union Announce Proposed Merger
SHARON, MA AND BROCKTON, MA – April 22, 2019 – Sharon Credit Union (www.sharoncu.com) and Crescent Credit Union (www.crescentcredit.org) today announced their proposed merger, pending regulatory approval and a vote by members of each organization.
This proposed merger represents the unification of two financially strong credit unions that have shared values and a long history of collaboration in the communities they serve. Leveraging the brand of both institutions, the combined Credit Union will be called Sharon and Crescent United Credit Union and branded as SCU Credit Union.
This proposed merger would create one of the largest community credit unions in Southeast Massachusetts, with combined total assets of $1 billion and 12 branch locations serving over 81,000 members.
This proposed merger will not result in any job losses. Current employees will gain the ability to enhance their professional development and career growth within the newly formed entity.
“We are very excited about this proposed merger with Crescent Credit Union,” said James L. Carlson, President of Sharon Credit Union. “With our mission and values aligned, we’ll continue to help members and provide enhanced capabilities while maintaining the history and heritage of both organizations.”
“Merging our two credit unions would allow us to enhance our product and service offerings and leverage our combined resources and expanded footprint to provide more convenience and greater support to our membership,” said Robert W. Gustafson, President of Crescent Credit Union.
About Sharon Credit Union
Sharon Credit Union, founded in 1956 is headquartered in Sharon, MA. With over $600 million in assets and five branch locations, Sharon Credit Union is federally insured by the National Credit Union Administration.
For more information, please visit www.sharoncu.com.
About Crescent Credit Union
Crescent Credit Union, founded in 1919 is headquartered in Brockton, MA. With over $450 million in assets and seven branch locations, Crescent Credit Union is federally insured by the National Credit Union Administration.
For more information, please visit www.crescentcredit.org.