UPDATE November 15, 2019
Crescent Credit Union Members Vote In Favor Of Merger With Sharon Credit Union
On Thursday evening, November 14, 2019, Crescent Credit Union members voted in favor of a proposed merger with Sharon Credit Union at a special meeting held at Crescent Credit Union’s Brockton headquarters.
The proposed merger of the $457 million Crescent Credit Union into the $597 million Sharon Credit Union would create the eighth largest credit union in Massachusetts with over $1 billion in assets and over 80,000 members. The merged credit union will be called Sharon & Crescent United Credit Union and branded as SCU Credit Union.
Sharon Credit Union members will vote on the merger at a special meeting on Wednesday, November 20, 2019 and the Massachusetts Division of Banks will need to approve the merger before it becomes official.
By joining forces, the merged credit union will gain the size and scale to be more competitive in the banking industry, and to meet the evolving needs of the combined membership.
We're excited to share good news! In order to provide the most value to our members, Crescent Credit Union has entered into a merger agreement with nearby Sharon Credit Union. Leveraging the brand of both institutions, when the merger is approved, the combined credit union will be called Sharon & Crescent United Credit Union, and branded as SCU Credit Union.
Please review our Member Information Statement and the Q&A below for answers to the most frequently asked questions.