In the northwest portion of Vermont, known for its incredible skiing and outdoor life, are two adjoining towns with two now possibly adjoining credit unions that have served members in this area of the state for a combined 100 years.
The two credit unions, Green Mountain Credit Union founded in 1959 and Opportunities Credit Union founded in 1989, announced plans on Friday to merge the organizations in 2025.
The distance between the South Burlington, Vt.-based Green Mountain Credit Union ($101 million in assets, 4,742 members) and the Winooski, Vt.-based Opportunities Credit Union ($64 million in assets, 5,716 members) is roughly two miles and only divided by the shores of the Winooski River that runs between the two towns.
Officials with the credit unions stated, pending state and federal regulatory approval, as well as an affirmative vote from members of both credit unions, the two organizations would join to serve more than 10,000 members and operate branches in Burlington, South Burlington, Winooski, Berlin and Rutland.
If approved, credit union leadership hopes to have the merger finalized by the second quarter of 2025.
According to the credit unions, no job losses are expected from the merger.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
