Taunton Federal Credit Union comes to Marion, looks to expand
MARION — The Taunton Federal Credit Union has set up shop on Route 6 in Marion following a merger with Commonwealth Utilities Federal Credit Union — but it won’t stay in Marion for too long.
According to Taunton Federal Credit Union President and CEO Nelson Tavares, “Commonwealth Utilities Federal Credit Union was … looking to expand their product offerings, expand their service locations, and at their given scale that they had, they were inhibited from doing so on their own.”
He said that Commonwealth Utilities Federal Credit Union approached the Taunton-based credit union about a merger because “they were looking for a partner with a similar culture, values and commitment to the community.”
The Taunton Federal Credit Union was founded in 1947 and now services Bristol, Plymouth and Barnstable Counties in Massachusetts as well as most of Rhode Island.
The merger was approved by Commonwealth Utilities Federal Credit Union members in March, according to a press release. “It was an overwhelmingly positive response from their membership,” said Tavares.
However, according to Tavares, the Marion location is “somewhat deficient” as it doesn’t provide drive-up service or an ATM.
To remedy this, Tavares said that Taunton Federal Credit Union plans to move its Marion branch to Wareham — near where it was originally located at the former NSTAR Headquarters that is now Wareham Crossing.
“We’ve actually secured property right off [Route] 195 in the Cranberry Highway area. We’re looking to develop a property next year,” said Tavares.
This relocation will not happen until the Wareham branch is fully operational, he added.
Aside from an eventual relocation, nothing will change about day-to-day operations at the Route 6 location in Marion, said Tavares.
“We committed to keeping all of their employees,” said Tavares. “So members in [the Marion] area will be able to see the same faces when they walk into their office and will provide the same level of service they have come to know.”
Taunton Federal Credit Union also plans to engage with the community by partnering with local non-profit organizations.
“We’re looking to not only be a financial resource for people, but we’re looking to be a community partner,” said Tavares. “We're actually helping the communities in which we’re employing people and serving financially.”
According to Taunton Federal Credit Union Senior Vice President of Marketing Torie Sylvia, no community partners have yet been identified, but the organization is “looking to involve ourselves and integrate ourselves into the community.”