CHICOPEE, Mass. and LITTLETON, Mass. –Two Massachusetts credit unions said they are seeking to combine.
The $190.3–million Alden Credit Union said it plans to seek member approval to merge into the $2.2-billion Hanscom Federal Credit Union, with the CUs said in a statement will expand resources, enhance services, and strengthen long-term financial stability for Alden members. The two CUs are approximately 80 miles apart.
If the merger is approved, the combined organization will operate under the name Hanscom Federal Credit Union and will be led by Peter Rice as president and CEO, with Adam Corcoran, CEO of Alden Credit Union, serving as regional president, a move the CUs said will provide continued local leadership and a strong Alden presence in Western Massachusetts.
Together, the combined credit union will serve approximately 128,000 members with 25 branches across Massachusetts, Maryland, and Virginia, including Alden Credit Union’s two branch locations in Chicopee and Belchertown, Mass..
All Alden employees will be retained, and Alden’s branch locations will continue normal operations throughout the approval process and beyond, the CUs said.
Hanscom FCU, which was originally chartered to serve Both credit unions are profitable. Hanscom Air Force Base reported $2.1-million in net income and had net worth of 9.95% as of year-end 2025. Alden Credit Union had $339.087 in net income and net worth of 8.87% as of the same date.
Members are ‘Priority’
“Our priority has always been our members,” said Corcoran in a statement. “They trust us to protect what makes Alden special — our relationships, our local service, and our commitment to their financial well-being. After our comprehensive search, it was clear that Hanscom Federal Credit Union was the right partner to help us preserve those values while expanding the tools, technology, and educational resources available to our members.
“This partnership allows Alden to remain deeply rooted in our community while giving our members access to broader financial wellness programs, innovative services, and long-term strength,” Corcoran added in the statement. “Most importantly, our members will continue to see the same familiar faces and receive the same personalized care they count on every day.”
‘Shared Purpose’
“This is a partnership grounded in shared purpose and a belief that credit unions exist to help people thrive,” said Rice in a statement. “Alden Credit Union has built a remarkable legacy of trust and service in its community, and we are honored to support and build upon that foundation.”
The Benefits
The credit unions said in their statement that if approved, the merger will provide members with:
- Expanded access to branches and ATMs
- Continued investment in digital banking and innovative technology
- Increased lending capacity for home mortgages, auto loans, and small business support
- Broader access to free Certified Financial Coaching programs
- Enhanced long-term financial strength and operational resilience
If OK’d the CUs said they hope to complete the combination by the fourth quarter of this year.
