The Board of Directors, management, and staff of MAFCU Federal Credit Union are pleased to announce a merger with RTN Federal Credit Union, following a member vote. By joining forces with RTN, MAFCU members will enjoy additional products and services, more branches, lower fees, and greater convenience. The merger is effective August 1, 2012.
MAFCU staff and leadership are committed to a seamless transition so that members can conduct business as usual. MAFCU's Brookline and Dorchester branches will be known as the Medical Area Division of RTN. The legal name of the Credit Union will be RTN Federal Credit Union.
"We look forward to bringing greater value to members and affiliates," says Nicole James, MAFCU President and CEO. "The merger of our two credit unions creates a financially strong institution with the ability to offer MAFCU members more products and services. We are excited to offer members lower fees, more branch access, and greater overall convenience, with the same individualized attention members have come to expect from MAFCU."
MAFCU members will be able to choose from a wider offering of financial products and services, including an expanded choice of mortgage and loan products and a larger ATM network, all with better rates and lower fees. MAFCU members will have access to existing MAFCU branches in Brookline and Dorchester Lower Mills, MAFCU to Go mobile branch, along with existing RTN branches in several Greater Boston communities including Waltham, Amesbury, Danvers, Lawrence, Marlborough, and Tewksbury.
"We are very enthusiastic about welcoming members and employees into our credit union family," offers Richard Wright, RTN Treasurer and CEO. "We were one of several credit unions that were fully vetted by the MAFCU Board in its voluntary search for a qualified merger partner. This is an unparalleled opportunity for two dynamic credit unions to combine resources in a way that delivers enduring benefits to members and employees as well as the communities both organizations serve."
All current MAFCU employees will continue their employment with the Credit Union. This continuity will support a smooth overall transition and a familiar branch experience for members.
RTN Federal Credit Union is a full-service financial cooperative that has been providing members high-quality financial products and personal service for over 67 years. As one of the largest credit unions in Massachusetts, RTN has approximately $725 million in assets and 37,000 members. RTN was founded in 1945 to provide Raytheon employees and their families with credit union services; membership now is open to employees, students, members, and volunteers, and their families, of more than 300 sponsor groups.
Established in 1952, MAFCU is a $72-million, full-service financial cooperative, owned by and operated for members. The Credit Union is dedicated to helping members reach their financial goals through service to members, financial education, and community involvement.
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