St. Mary's Bank Credit Union and Gateway Credit Union have officially joined forces. St. Mary's Bank Credit Union announced it has completed the acquisition of Gateway Credit Union after obtaining approvals by the membership of Gateway Credit Union, the National Credit Union Administration and the State of New Hampshire Banking Department. The transaction adds 8000 new members to St. Mary's Bank.

This transaction expands St. Mary's Bank to seven branch locations and introduces the credit union to new markets, giving the institution its first presence in the Southern New Hampshire communities of Nashua and Hudson.

In January of this year, St. Mary's Bank announced its agreement to integrate the assets, operations and members of Gateway Credit Union into St. Mary's Bank. Gateway, established in 1961, has two branch locations and assets of nearly $24 million.

Gateway branches will continue to operate under the Gateway name, as a separate division of St. Mary's Bank, until the planned conversion to St. Mary's Bank's systems on September 30, 2005. After September 30th, both Gateway locations will operate as full service St. Mary's Bank branch offices, and members will have access to all St. Mary's Bank locations.

"We warmly welcome all Gateway members to our credit union family," said Ronald J. Rioux, President and Chief Executive Officer of St. Mary's Bank. "It is certainly our privilege to honor Gateway's traditions, and we look forward to introducing our newest members to our expanded product offerings, outstanding service levels and our strong commitment to the community."

In September, Gateway members will gain access to a more sophisticated and wider array of services including free checking, online banking and bill pay, instant mortgage approval, and access to St. Mary's Financial Services, Inc., St. Mary's Insurance Services, Inc., St. Mary's Title Services, LLC, and a full range of commercial offerings from comprehensive online services, commercial and industrial loans, SBA loans, Business Finance Authority loans to their Credit Union at Work program.

Current St. Mary's Bank members will also benefit by the expansion as St. Mary's Bank reports hundreds of households in the area maintain a relationship with the credit union. "New locations create even more convenience by giving consumers and businesses more options," commented Rioux.

St. Mary's Bank holds the distinction as the first credit union established in the United States. Founded in 1908, St. Mary's has assets in excess of $500 million, serves businesses and residents in New Hampshire and has a membership of more than 50,000.

St. Mary's Bank is a not-for-profit, financial cooperative owned by its members that is committed to the credit union philosophy of "people helping people" and to dedicating resources to the community. St. Mary's offers a full range of financial products and services for consumers and businesses. Known for competitive rates, low fees and community outreach activities, St. Mary's Bank is headquartered in Manchester, New Hampshire.