Over the past 4 years, Heritage Family Credit Union (HFCU) has experienced tremendous growth. The Credit Union will continue efforts to grow organically, but leadership also recognizes that expedited growth via a merger puts HFCU in a very strong position in a competitive financial industry market.
Simultaneously, another credit union began their search for a viable partner. Tri State Area Federal Credit Union serves the Hoosick Falls, NY and Bennington, VT areas. Their CEO, Jim Martinez, and Board of Directors recognized their need to partner with a credit union to continue to serve their members with a high level of service. Their search led them to HFCU. Jim and the Board valued HFCU’s commitment to the community and the “People Helping People” philosophy that defines credit unions. They also appreciated the depth of products and services that would be available to their membership via a merger.
HFCU has formally requested permission to merge with Tri State Area Federal Credit Union from the National Credit Union Administration (NCUA).
This merger, while providing tremendous growth opportunity for HFCU, does not impact our membership in any material way. For our members, it is business as usual: we will remain Heritage Family Credit Union and will welcome Tri State Area’s members.
When the merger is approved by the NCUA, the Tri State Area membership will have the opportunity to vote and, once fully approved, HFCU will begin the process of converting Tri State Area’s members to its banking platform.
Tri State Area’s membership will vote in December, with the merger becoming formal in January 2025.
This is an exciting time for HFCU! This merger will strengthen the Credit Union's position in the market, allow HFCU to serve additional locations, and ensure a continued high level of service to the Tri State Area membership.
Please visit our FAQs for additional information and thank you for your continued support.