Brockton, MA, October 17, 2013 – At a special meeting of the membership held Tuesday, October 15, a quorum of Crescent Credit Union members voted unanimously to approve an amendment to the Credit Union’s bylaws governing the criteria which qualifies a person for membership. The measure will roughly double the geographic area and population of Crescent’s field of membership.
Massachusetts Banking Commissioner David Cotney had previously approved Crescent’s application to expand field of membership, leaving only the vote of Crescent members to finalize the effort.
Prior to the vote, membership at Crescent Credit Union had been limited to anyone who lives or works in Plymouth, Bristol, Norfolk and Barnstable Counties in Massachusetts.
With Tuesday’s positive vote, effective immediately, Crescent Credit Union has expanded its field of membership to include anyone who lives, works, has a place of business, or attends school in Plymouth, Bristol, Norfolk, Barnstable, Dukes, Nantucket and Suffolk Counties, as well as specific cities and towns in Middlesex and Worcester Counties in Massachusetts, and in Providence County, Rhode Island. (A complete listing of the counties, cities and towns can be found online at www.crescentcredit.org.)
Additionally, the amendment to the bylaws allows for immediate family members of current Crescent members to apply for membership, regardless of location.
“This is a significant milestone in Crescent Credit Union history,” said Crescent President & CEO Robert Gustafson. “This expansion will pave the way for future growth in other markets. It will help us meet an ever growing demand for our products and services using technology, especially the Internet. And, it will allow us to better serve our existing business partners, including the dealerships we work with.”
To meet the needs of the expanded field of membership, the Credit Union has already made significant investments in new technology, including enhanced online banking and bill pay, mobile banking with mobile deposit, and remote deposit capture for businesses.
About Crescent Credit Union
Founded in 1919 and headquartered in Brockton, Crescent Credit Union is a not-for-profit financial institution providing better banking solutions to over 48,000 members via 8 branch locations in Brockton, Taunton, and Norwell. For more information, please call 508-559-5400 or visit www.crescentcredit.org.
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