RUTLAND Vt. –The 4,200 members of Tri State Area FCU and its staff are now part of Heritage Family Credit Union, following a merger that has crossed state lines.
Tri State Area FCU had $41.2-million in assets and 3,726 members prior to the merger. It is headquartered in Hoosick Falls, N.Y. and reported a loss of $582,414 and net worth of 7.77% as of year-end 2024.
Heritage Family FCU had $772.8 million in assets and 50,707 members at year-end 2024. It reported $6.83 million in net income and net worth of 11.65% at the end of last year.
The two credit unions are approximately 63 miles apart.
Crossing the Finish Line
“Crossing the finish line is always about so much more than that one moment, because it also represents a culmination of the many steps and people that it took to get there,” HFCU President/CEO Chris Gomez said in a statement. “For all of us at Heritage Family Credit Union, we are excited beyond measure to finally welcome these new members and staff to our Credit Union. I want to thank each one of them and everyone involved in the merger process for their patience, hard work, and shared vision, which made this moment possible.”
Longtime TSAFCU CE) Jim Martinez has been named SVP-market president at HFCU.
“A credit union’s first priority is always people, and the philosophy of people helping people is at the heart of all that we do,” said Martinez in a statement. “Merging with Heritage Family Credit Union means that 4,200 members plus those living in our local communities will now have access to a more robust array of financial services and options, which will put more dreams within reach of those people who matter most to us.”
Consolidating Operations
HFCU said it will consolidate operations in Bennington, Vt. by closing its Pleasant St. branch and moving all staff and services to the former TSAFCU location on Washington Ave., which remains open.
In Hoosick Falls, NY, the former TSAFCU Church St. branch also remains open and will continue operating as the HFCU location serving that local community, the credit union said.
