Paul J. Marotta, Chairman
Credit unions have always been known for cooperation and collaboration. It’s often how we solve problems. It is how we build knowledge, and working together is how the credit union movement continues to remain fresh and vibrant.
Today is a time of great change for financial institutions. There’s increased focus on mobile banking, a greater need for sophisticated security measures, and a highly regulated business climate. Credit unions are feeling pressure to add technology and the staff to manage it.
Not every credit union can dedicate staff for compliance, security or information technology. Over the years, many smaller organizations have come to us for advice and guidance. And we respond by helping, whether by dedicating resources or providing support.
These credit unions come to us with the confidence that we are there for them. When we go through the process of working together, some credit unions find we can assist their members in a strong and dependable way. That’s when a merger becomes a viable option.
In the past year, we completed mergers with two other credit unions. Houghton Mifflin Harcourt Employees Federal Credit Union and the W.H. Nichols Employees FCU were financially healthy and the mergers resulted in a positive outcome for their members as well as for Hanscom FCU.
When searching for a merger partner, each of these credit unions realized that Hanscom FCU was a great fit for their members, offering a full range of products and services, while also sharing the same credit union values and structure.
The advantages of Hanscom FCU membership are now being discovered by our new members. To help them explore all of our offerings, we created a video. I invite you to watch it as well. Maybe you’ll find something new, too.
Find the video at www.hfcu.org/magic.