St. Mary's Bank, the first credit union in the nation, will become the first and only credit union in Londonderry when it opens its new branch in Londonderry Square (former location of the Town Hall) on Route 102 this fall.

As branch manager, Maria Southmayd will head up the Londonderry management team, which will include Larry George, mortgage origination officer, and Jack Crane, Certified Senior Advisor, of St. Mary's Financial Services.

"We at St. Mary's are excited to be expanding into a new market and are proud to be the first credit union in Londonderry", said Ronald Rioux, president and CEO of St. Mary's Bank. "I am confident that the new management team will quickly establish this branch as a committed and integral member of the Londonderry community."

Much different from banks, credit unions are built solely for serving their membership. The only stockholders are the members themselves, which means credit unions work hard to provide them with financial well-being. Because they are financial cooperatives owned by their members, credit unions are generally able to offer more to their communities than banks. The benefits include lower interest on loans, higher interest on deposit accounts and fewer fees.

Established in 1908 as the first credit union in the nation, St. Mary's is committed to serving its more than 50,000 members by offering an array of products and services that are beyond compare.

In addition, St. Mary's offers free checking with free online BillPay; deposit products with competitive rates; low-rate auto, boat and RV loans; over 50 mortgage products; free financial services and insurance services.

St. Mary's Bank is a not-for-profit, member-owned credit union offering a full range of financial products and services for consumers and businesses. Known for competitive rates, low fees, state-of-the-art banking services and free online banking, St. Mary's Bank is headquartered in Manchester, New Hampshire. Call 1-888-786-2791 or visit stmarysbank.com for more information.