BOSTON – Two Massachusetts credit unions have asked state regulators for permission to expand their membership areas within the Bay State and into Rhode Island, the Boston Business Journal reported.
Crescent Credit Union, based in Brockton with about 47,000 members, has asked the Massachusetts Division of Banks for permission to amend the coverage areas in its bylaws. In addition to all five Rhode Island counties, Crescent has proposed expanding into Dukes and Suffolk counties in Massachusetts and certain cities in Middlesex and Worcester counties.
Currently, only residents of Bristol, Plymouth, Norfolk and Barnstable counties can join Crescent Credit Union.
New Bedford Credit Union has also asked to expand into Barnstable, Bristol and Plymouth counties, as well as Tiverton and Little Compton, Rhode Island. The credit union is now only open to members from Greater New Bedford. It has more than 14,000 members in that area.