New England's second largest credit union, the $1.9 billion HarborOne Credit Union of Brockton, Mass., is formally moving ahead with a conversion to a mutual savings bank following a vote of its board on Wednesday night.
In a formal statement Thursday, the suburban Boston CU said it "voted unanimously to begin the process of applying for a cooperative bank charter."
The statement stressed the "approval to proceed is one first step in a long process and charter change must be approved by a vote of our members."
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