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Woodlands Credit Union and Northeast Credit Union Merger Approved

The merger between Woodlands Credit Union and Northeast Credit Union, which was announced earlier this year, has received final approval from members and regulatory agencies, both credit unions said last week.

Woodlands members OK’d the merger last week, which was the final step needed to make the merger effective on Jan. 1. The credit unions operation systems are expected to be combined by the end of the summer next year.

The merged credit union will operate as Northeast Credit Union and will have headquarters in Portsmouth, N.H. With the merger, Northeast will have assets of more than $800 million and more than 90,000 members with 15 branches in New Hampshire including Lebanon.

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