To continue getting breaking news and the full stories from The Boston Globe, subscribe today.

The Boston Globe

Business

Boston.com

HarborOne Credit Union’s plan to be a bank draws fire

Customers unlikely to benefit, regulator says, but HarborOne seeks path to growth

By Todd Wallack

 |  Globe Staff  

  May 07, 2012

The nation’s top credit union regulator questioned HarborOne Credit Union’s plans to convert to a bank. Debbie Matz, chairman of the National Credit Union Administration, said she didn’t see how the Brockton credit union’s decision would help its 140,000 customers. HarborOne, the second largest credit union in the state with 15 branches and $1.8 billion in assets, announced plans in February to begin the process of converting from a credit union to a mutually owned co-operative bank.

Stay with the story. Get full access to BostonGlobe.com for just 99¢

Unlimited access to BostonGlobe.com for only 99¢ for the first 4 weeks. You can cancel at any time.

  • The FULL story all day: Enjoy all of the high-quality, in-depth journalism in the print edition of the Boston Globe — plus breaking news that's updated 24/7.
  • A truly reader-friendly format: It's online news that looks and reads just like the newspaper — uncluttered, uninterrupted.
  • Breakthrough technology: The responsive design automatically adapts content so it always reads perfectly on the digital device of your choice.
Get started today

Free access for home delivery subscribers.

Just need to link your home delivery account; one easy step.

Link my home delivery account

BostonGlobe.comSubscriber Log In

Contact us for help