We are excited to announce that the Tri State Area Federal Credit Union (TSAFCU) Board of Directors ratified a merger agreement on December 2, 2024, following an enthusiastic approval vote by TSAFCU members.
The merger, which takes effect on January 1, 2025, was also approved by the National Credit Union Administration and follows many months of collaborative planning, including necessary steps taken to ensure a smooth transition when TSAFCU members convert to HFCU’s banking systems.
“Now that the merger has been approved, we are excited to warmly welcome Tri State Area Federal Credit Union’s members and staff to Heritage Family Credit Union, where our shared values of putting people first will continue to guide every step that we take together towards a future filled with both purpose and promise,” said HFCU President/CEO Chris Gomez. “I want to sincerely thank Tri State Area Federal Credit Union President Jim Martinez, their board, and their staff for all of their hard work throughout the merger process and for the trust they have placed in Heritage Family Credit Union.”
The merger will add TSAFCU’s two branches in Bennington, VT, and Hoosick Falls, NY, all their employees and some 4,200 members to Heritage Family Credit Union. While the leadership of both credit unions has been clear since their conversations began regarding the many mutual benefits associated with a potential merger, they have also come to appreciate how they share similar service philosophies and an unwavering commitment to the communities they serve.
“For seven decades, Tri State Area Federal Credit Union has been dedicated to providing member experiences of the highest caliber, and this merger represents an exciting next step in keeping with that commitment,” said Martinez, who will stay on in the leadership role of Market President and join an enhanced HFCU staff presence to support mortgage and business lending needs in the Bennington and Hoosick Falls communities. “I’m delighted that our members recognized what the board and I have come to see quite clearly in these last several months, how joining forces with Heritage Family Credit Union will significantly strengthen our services and enrich our communities.”