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Charter Oak merger approved

Published May 17. 2013 4:00AM

Charter Oak Federal Credit Union said Thursday that regulators have approved its merger with Putnam-based Quiet Corner Community Credit Union.

The two financial institutions will become one June 30.

Quiet Corner's membership voted in April to approve merging operations with Charter Oak. The merger has received approval from the Connecticut Department of Banking, which regulates Quiet Corner, as well as the National Credit Union Administration, Charter Oak's regulatory agency.

Quiet Corner serves 600 members in Putnam, Thompson, Grosvenordale, Pomfret and Woodstock. Charter Oak, based in Groton, has assets of $779 million with 12 branches in New London and Windham counties.

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