By the Division of Banks

BOARD OF BANK INCORPORATION

Hearings

October 17, 2007
Fifth Floor - Hearing Room A
One South Station
Boston, Massachusetts

At 10:30 a.m.

OneUnited Bank, Boston, Massachusetts - permission to become a bank holding company through the formation of a federally chartered savings bank in connection with its proposed reorganization from a Massachusetts-chartered trust company into a federally-chartered savings bank in a holding company structure. The continuing bank will be known as OneUnited Bank, FSB. Comment period ends October 24, 2007.

Decisions

Berkshire Hills Bancorp, Inc. (the "Petitioner"), Pittsfield, Massachusetts - permission to acquire Factory Point Bancorp, Inc. and its wholly-owned subsidiary, The Factory Point National Bank of Manchester Center, Manchester Center, Vermont. In the Commonwealth, the Petitioner is the holding company for Berkshire Bank, Pittsfield, Massachusetts. In connection with this transaction, an application has been filed with the Division of Banks for approval of the subsequent merger of The Factory Point National Bank of Manchester Center with and into Berkshire Bank - approved September 19, 2007.

Applications Pending

Chittenden Corporation, Burlington, Vermont and Ocean Bank, Portsmouth, New Hampshire - permission to acquire Community Bank & Trust Company, Wolfeboro, New Hampshire in a multi-step transaction. In the Commonwealth, Chittenden Corporation is the holding company for The Bank of Western Massachusetts, Springfield, Massachusetts and Flagship Bank and Trust Company, Worcester, Massachusetts. Comment period ended August 30, 2007.

DIVISION OF BANKS

Decisions/Notices

Bay State Savings Bank, Worcester - notice to establish a branch office at 2 Eastern Avenue, Worcester - non-objection issued September 27, 2007.

Berkshire Bank ("Berkshire"), Pittsfield, Massachusetts and The Factory Point National Bank of Manchester Center ("Factory Point"), Manchester Center, Vermont - permission to merge under the charter, by laws and name of Berkshire Bank. The main office of Berkshire would remain the main office of the continuing institution and the banking offices of Factory Point would be retained as branch offices - approved September 19, 2007.

Clinton Savings Bank, Clinton - permission to relocate a branch office from 45 Shrewsbury Street, Boylston to 81 Shrewsbury Street, Boylston - approved September 5, 2007.

Crescent Credit Union ("Crescent"), Brockton and Uniti Credit Union ("Uniti"), Brockton - permission to merge under the charter, by-laws and name of Crescent. The main office of Crescent would remain the main office of the continuing credit union and both banking offices of Uniti would be retained as branch offices of Crescent. As part of this transaction, the by-laws of Crescent would be amended to change membership eligibility - merger approved September 27, 2007; by-law amendment provision remains pending after comment period ended September 17, 2007.

Danversbank, Danvers - notice to establish a branch office at 3 Traders Way, Salem - non-objection issued September 12, 2007.

Hampden Bank, Springfield - notice to establish a branch office at 187 Main Street, Indian Orchard - non-objection issued September 12, 2007.

Legacy Banks, Pittsfield, Massachusetts - permission to (i) purchase certain assets and assume certain deposit and other liabilities of First Niagara Bank, Lockport, New York; and in connection therewith (ii) establish and maintain branch offices at (1) 184 Broadway, Whitehall, New York; (2) 49 Route 296, Windham, New York; (3) Bryant's Supermarket, 11567 State Route 32, Greenville, New York; (4) 4507 State Route 30, Middleburgh, New York; and (5) 4 Elliott Place, East Durham, New York - approved September 27, 2007.

Marlborough Savings Bank, Marlborough- notice to establish a branch office at 21 East Main Street, Westborough - non-objection issued September 6, 2007.

Reading Co-operative Bank, Reading - notice to establish a branch office at Reading Memorial High School, 62 Oakland Road, Reading - non-objection issued September 12, 2007.

Applications/Notices Pending

Century Bank and Trust Company, Somerville - permission to close a branch office located at the George Sherman Student Union Building, at 771 Commonwealth Avenue, Boston. Comment period ends October 1, 2007.

Dukes County Savings Bank ("Dukes County"), Edgartown and Martha's Vineyard Co-operative Bank ("Martha's Vineyard"), Vineyard Haven - (1) permission to merge under the charter and by-laws of Dukes County and name of Martha's Vineyard Savings Bank; and (2) close a branch office of Dukes County located at Vineyard Haven State Road and Indian Hill, West Tisbury. All other banking offices of both banks would be retained. Comment periods ended September 18, 2007.

Harvard University Employees Credit Union, Cambridge - permission to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership for students, alumni, employees and retirees of Lesley University and affiliates, as defined, of Lesley University, as well as other changes as specified in the proposed by-law. Comment period ended September 24, 2007.

Lynn Postal District Employees Credit Union (the "Credit Union"), Lynn - permission to (1) expand the associations which qualify persons for membership; and (2) change the name of the Credit Union to Massachusetts Postal Employees Credit Union. The amendment relative to membership eligibility proposes to add membership for employees of the United States Postal Service who live or work in Essex County, Middlesex County, Suffolk County and Worcester County. Additional changes are set out in the proposed membership by-law. Comment period ended July 6, 2007.

Mechanics' Co-operative Bank ("Mechanics"), Taunton and Bridgewater Co-operative Bank ("Bridgewater"), Bridgewater - permission to merge under the charter, by-laws and name of Mechanics'. The main office of Mechanics' would remain the main office of the continuing institution and the sole banking office of Bridgewater would be retained as a branch office. Comment period ended September 11, 2007.

OneUnited Bank, Boston - permission to merge with and into a newly formed federally-chartered savings bank, OneUnited Bank, FSB. Comment period ends October 24, 2007.

OCTOBER 2007 FILING DATE

Complete applications for the October Activity Report must be received by the Division or the Board on or before 5:00 P.M., Monday, October 15, 2007.

COMMUNITY REINVESTMENT ACT DESCRIPTIVE RATINGS AND EVALUATIONS
WHICH BECAME PUBLIC DURING THE MONTH

The following state-chartered institutions have Community Reinvestment Act Descriptive Ratings and Evaluations describing the basis for the Rating issued by the Division of Banks pursuant to Massachusetts General Laws chapter 167, section 14. The ratings, as set out in the statute, for a bank's record of meeting community credit needs are: Outstanding ("O"); High Satisfactory ("HS"); Satisfactory ("S"); Needs to Improve ("NI"); and Substantial Noncompliance ("SNC").

Financial InstitutionRatingDate of Examination

NEMCH Credit Union, Boston

S

07/31/07

North Cambridge Co-operative Bank, Cambridge

S

07/10/07

Waltham Municipal Employees Credit Union

S

08/16/07

Watertown Municipal Credit Union

S

08/07/07

APPLICATIONS TO SELL INSURANCE

Benjamin Franklin Bank, Franklin - approved September 17, 2007

CHECK CASHER LICENSES

Applications Pending

Cassie H. Farmer d/b/a Family Financial Centers, Framingham, Massachusetts - permission to operate a check casher office at 2 Frederick Street, Framingham. Comment period ended Thursday, August 30, 2007.

John Tamburo d/b/a Tamburo Check Cashing, Everett, Massachusetts - permission to operate a check casher office at 241 Beacham Street, Everett. Comment period ended Tuesday, September 5, 2006.

Kirsch & Davis, Inc. d/b/a Kirsch Package Store, Worcester, Massachusetts - permission to operate a check casher office at 646 Main Street, Worcester. Comment period ended Thursday, August 24, 2006.

Parrot Check Cashing, LLC, Cambridge, Massachusetts - permission to operate a check casher office located at 56 Creighton Street, Cambridge and a mobile check cashing service to serve the North Cambridge, Massachusetts area. Comment period ended Wednesday, February 28, 2007.

Pioneer Check Cashing, Inc., Springfield, Massachusetts - permission to operate a check casher office located within the Chestnut Package Store, 95 Chestnut Street, Springfield, Massachusetts. Comment period ended Tuesday, October 10, 2006.

REGULATIONS

The final amendments to existing regulation 209 CMR 42.00: The Licensing of Mortgage Lenders and Mortgage Brokers were filed by the Division for publication in the Massachusetts Register on Friday, September 7, 2007. The regulations will be effective on that date. A copy of the final version of the regulation is available on the Division's website at www.mass.gov/dob.

PLEASE NOTE: All publications of the Division of Banks are now delivered electronically. To subscribe, simply send an email to:

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If you need assistance or have questions, please contact Bernard N. Waxman at 617.956.1571.

For information relative to current Activity Reports please contact the Consumer Assistance Unit .