HANSCOM AFB, MA — Two credit unions, one serving publishing powerhouse Houghton Mifflin Harcourt and the other at Hanscom Air Force Base, combined July 1 after members of the $6.4 million Houghton Mifflin Harcourt Employees FCU approved a merger with the $1.1 billion Hanscom FCU.
“We are delighted to welcome over 1,000 members and the credit union staff to the Hanscom FCU family,” said Paul Marotta, Chairman of the Board for Hanscom FCU. “The leadership of Houghton Mifflin Harcourt EFCU wanted to leave their members in good hands, and we know this is a good match.”
Houghton Mifflin Harcourt EFCU board members began looking for a merger partner after learning that their Massachusetts facility in Wilmington would close later this year.
Houghton Mifflin Harcourt’s credit union was founded in 1957 to serve employees at the iconic Boston book publisher best known for its Curious George books. Today, the company provides educational material and children’s literature in print and digital form, serving more than 50 million readers in over 150 countries.
Hanscom FCU, with approximately 58,000 members, was started in 1953 and serves federal employees in Massachusetts, as well as area employers that offer membership as a benefit.
(NOTE: The above press release is from Hanscom FCU.)
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