Housatonic Teachers Federal Credit Union has merged with Nutmeg State Financial Credit Union, in a deal officially approved on Dec. 31. Under the agreement, Stratford-based Housatonic will continue to operate under its existing name as a division of Nutmeg State Financial Credit Union, whose headquarters are in Rocky Hill.
Housatonic, founded in 1935 to serve educational professionals throughout Fairfield County, has a membership of more than 2,000 people. Nutmeg has a membership of more than 39,000 and an asset size growing to over $400 million.
Last year Nutmeg transformed all platforms from its internal customer relationship management software to its online e-banking platform and mobile app. All information was streamlined to expedite the credit union”™s ability to help members open memberships, apply and close loans, make deposits quicker, and pay bills more easily.