ANDOVER, Mass. — The $98 million Northeast Community Credit Union, a state chartered credit union headquartered in Andover, has set Sept. 13 for the date of a special meeting to discuss and vote on a proposal to merge with Haverhill Bank, a mutual bank also headquartered in Andover according to a local press report.

Since Haverhill Bank is also a state chartered mutual bank, under Massachusetts' procedures for such mergers, which have never been done before according to the CU, the depositors of the mutual also have to have a special meeting to discuss and vote on the proposal. Haverhill has scheduled its meeting for Sept. 18.

The unique nature of the merger seems to have bypassed the NCUA's 30-60-90 day notification and ballot procedures. The CU and bank jointly informed their members and depositors of the intention to merge at the end of July and there has not been enough time since to have completed the mailings. No one from the CU or the agency has yet become available to comment on the meeting and its timing, but a lawyer for the CU argued that it would not have to follow the agency's charter change conversion procedures.