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New Hampshire's Northeast CU absorbs Maine's Ocean Communities FCU

Portsmouth, N.H.-based Northeast Credit Union and Biddeford, Maine-based Ocean Communities Federal Credit Union merged, effective Aug. 1, resulting in an additional 12,000 new members for Northeast CU, Business NH Magazine reported Aug. 2.

Former Ocean Communities FCU CEO Judy Morin joined Northeast CU as senior vice president and COO.

SNL data shows that as of June 30, Northeast CU had $1.14 billion in assets, while Ocean Communities FCU had assets of $168.2 million.