LAWRENCE, Mass.–Two Massachusetts credit unions said they are pursuing a merger.

The $2.4-billion BrightBridge Credit Union and the $138-million Arrha Credit Union in Springfield, Mass. said they are seeking to combine in order to “enhance the value delivered to their members and communities.”

In announcing the merger plan, the two CUs said the merger is “rooted in a shared mission to provide exceptional service, competitive financial products and a strong community presence. By joining together, BrightBridge will expand its field of membership to serve the Hampden, Hampshire and Franklin counties in Massachusetts, and Hartford and Tolland counties in Connecticut.”

The two credit unions are a little over 100 miles apart.

If approved by members of both credit unions and regulators, the combined institutions will have 23 retail branches in addition to offering shared branches.

The merged CU would have approximately 125,000 members. 

‘So Excited’

“We’re so excited about this opportunity to unite with another credit union that shares our values and commitment to putting members first,” BrightBridge President & CEO John J. Howard said in a statement. “Arrha Credit Union has a long-standing reputation for supporting its members with integrity, care and genuine down-to-earth service. Our partnership allows us to build upon that legacy while investing in future growth and innovation.”

‘Exceptionally Beneficial’

“We believe this partnership is exceptionally beneficial to our members, our team members and to our community,” added ACU President and CEO Michael Ostrowski in a statement. “Together, we’ll be stronger and better equipped to serve our members’ evolving financial needs. We look forward to working with the BrightBridge team to ensure a smooth transition for all.”