America’s First Network Credit Union and Northeastern CT Healthcare Credit Union Announce Conclusive Merger Agreement

Effective April 1st, 2024, Northeastern CT Healthcare Credit Union will legally merge with America’s First Network Credit Union. The two complementary organizations, each with their iconic brands and deep roots in their local communities, are joining forces to establish a footprint and unite in the northeastern quadrant of the state. The Northeastern CT Healthcare membership vote passed by an overwhelming majority on March 13th, 2024. The CT Department of Banking granted final approval on March 18th, 2024.

About the Merger

The decision to merge comes from a shared commitment to enhancing financial services for our members. By joining forces, we aim to provide even greater value, expand product offerings, and improve member experiences. The merger will allow us to leverage our collective strengths to better serve our communities.

Key Points:

1. Stronger as a Unit: The merger will create a more robust credit union, combining the best practices, expertise, and resources of both institutions. 

2. Expanded Services: Members can look forward to an enhanced range of financial products including Flex loans, a full suite of real estate loan products, debit cards, and digital banking solutions.

3. Community Impact: As a united entity, we will continue our tradition of community involvement, supporting local initiatives and charitable causes. This includes our ongoing efforts to establish and maintain relationships with our current/future Select Employer Groups (SEG’s) and their valued employees.

4. Operations Efficiency: Streamlining operations will lead to cost savings, which will ultimately benefit our members.

Quotes:

• Nicholas A. Moalli, President/CEO of America’s First Network Credit Union: “Our shared vision for the future makes this merger a strategic partnership. We are excited about the possibilities and together we will be able to offer unparalleled service and financial solutions to all members.”
• Kathryn S. Butermovic, COO/Compliance Officer of Northeastern CT Healthcare Credit Union: “I know that this partnership with America’s First Network Credit Union is a positive move forward. For our Credit Union this will allow us to serve our members more efficiently and still with the personal touch that they are accustomed to.”

Next Steps

Legal merger will be effective on April 1st, 2024. Members of Northeastern CT Healthcare Credit Union will have access to all new products and services as of June 3rd, 2024. Stay tuned for more updates and visit our website afncu.com for further announcements. 

For more information

Press only: Bella Chase VP of Marketing and Member Engagement 475.655.7434 bchase@afncu.com

Note: This press release is for informational purposes only and does not constitute an offer of solicitation. The merger is subject to regulatory approval