Members of Northeast Community Credit Union have approved the merger of the credit union with Haverhill Bank.

The vote is subject to final certification by an independent firm but was part of a process approved by the National Credit Union Administration and Massachusetts Division of Banks.

The combined operations, under the Haverhill Bank name, are expected to begin in January. Under state law, the resulting institution must remain a bank, the credit union said.

“I am grateful to the members for considering what is best for them as well as the community. Combining these two local institutions ensures all deposits will remain within Greater Haverhill,” said Northeast Community Credit Union Treasurer and CEO Peter L. Di Benedetto.

Haverhill Bank President Thomas R. Faulkner will serve as chairman and chief executive officer and Di Benedetto will serve as president and chief operating officer. No layoffs are proposed and all branches will remain open after the merger, the companies said.

Faulkner said savings will come in the areas of information technology, insurance, auditing expense and other operating expenses. The bank will have combined assets of approximately $260 million, deposits of $220 million and capital of $30 million.