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On Friday, December 29, 2023, members of Acushnet Federal Credit Union (AFCU) voted to approve a merger with Taunton Federal Credit Union (TFCU) effective January 1, 2024. The merger will bring enhanced operational efficiency to AFCU and further expand TFCU’s footprint into the Southcoast area.
Founded in 1947, TFCU is a federally chartered credit union serving Bristol, Plymouth & Barnstable Counties in MA, as well as the majority of Rhode Island. TFCU has $350 million in assets, 18,400 members and 6 locations. TFCU is excited for the opportunity to bring its exceptional member service and vast range of products and services to the Acushnet area.
AFCU was established in 1960 as St. Francis Xavier Acushnet Federal Credit Union and became officially known as Acushnet Federal Credit Union in 1967. AFCU has $30 million in assets, 2,200 members and 1 location. The merger provides AFCU members with access to 6 additional branch locations and an expanded offering of products and services.
The existing AFCU office on 112 Main Street in Acushnet will be rebranded as a full service TFCU branch. The combined Credit Union now has assets in excess of $380 million, serving nearly 21,000 members with 7 branches across Southeastern Massachusetts. TFCU expects to fully complete the operational merger by the 2nd quarter of this year.
“The merging of Acushnet Federal Credit Union into TFCU not only introduces enhanced operational efficiency, but it also connects two organizations with similar cultures, goals, and commitments to member value. On behalf of the TFCU staff and management team, as well as our Board of Directors, we would like to welcome our new members to the TFCU family. We look forward to providing you with the banking products and service that you have come to expect” said Nelson Tavares, President & CEO of Taunton Federal Credit Union. “I’d also like to extend a warm welcome to the existing AFCU team as they join the TFCU Family. We’re pleased that they will continue on with us at the former AFCU office to continue servicing you. Thank you to Michael St. Onge (AFCU Board Chair), Holly Raposa (AFCU Manager), and the entire Board of Directors and staff of AFCU for their endeavors through this process. I look forward to continued success for our combined credit union”.
“Acushnet Federal Credit Union was built on the motto of Neighbors Helping Neighbors. With that thought in mind, the Board of Directors met with Nelson Tavares, President, and CEO of Taunton Federal Credit Union to inquire about a way that the two credit unions could work together to continue to service AFCU members and the surrounding community. After several meetings, the board decided that AFCU would enter into a merger agreement with TFCU. The staff is excited about becoming TFCU’s seventh branch, making banking easier for our members while continuing to stay true to the motto of Neighbors Helping Neighbors” said Holly Raposa, Branch Manager of Acushnet Federal Credit Union. “I believe that our membership will benefit from their wide range of products and services, as well as their 6 other branch locations”.
112 Main Street | Acushnet, MA 02743