BOSTON—The Massachusetts’ Division of Banks has set a hearing for next month at which it will discuss Chapter 466 of the Acts of 2014, An Act Relative to Credit Union Branching.
That act would authorize Massachusetts’ state-chartered credit unions to establish branches up to 100 miles from their main office, and in Connecticut, Main, New Hampshire, New York, Rhode Island or Vermont, subject to conditions established by the commissioner.
The proposed rule would also authorize out-of-state state-chartered credit unions, with a principal place of business in New England or New York, to establish a branch office in Massachusetts, also subject to the commissioner's conditions.