The $1.5 million, 614-member Quiet Corner Community Credit Union in Putnam, Conn., is planning to merge with the $763 million, 65,400-member Charter Oak Federal Credit Union in Groton, Conn.
“Quiet Corner is a true community-focused credit union,” said Brian A. Orenstein, Charter Oak’s president/CEO. “It serves an important growth area for us, and its Putnam operations would provide the perfect complement to our existing Windham County branches in Dayville and Willimantic.”
The proposed merger would create Charter Oak’s 13th branch in New London and Windham counties.
Audrey Lefevre, Quiet Corner’s manager/treasurer and the credit union’s sole employee, would continue to lead Charter Oak’s new operations at the Putnam branch.
Pending approvals from Quiet Corner’s members, as well as federal and state regulatory authorities, the proposed merger is expected to be completed June 30.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
