#United States #Financial Wellness #Hanscom Credit Union #Alden Credit Union #Chicopee, Littleton

Alden and Hanscom Credit Unions Unite for Financial Wellness

On February 5, 2026, Alden Credit Union and Hanscom Federal Credit Union made a significant announcement regarding their strategic partnership and merger. Both institutions have been vital to their communities, and with this collaboration, they aim to enhance the financial health of their combined membership significantly.

The decision was made after thorough discussions and evaluations by the respective Boards of Directors, who unanimously approved the plan. The goal of this merger is not just to combine resources but to improve the services offered to members while ensuring long-term financial stability. The leadership from both credit unions has prioritized member experience and community engagement, marking this partnership as a step towards a sustainable financial future for all members.

Once the merger is finalized, the new entity will operate under the name Hanscom Federal Credit Union, with Peter Rice taking the helm as President and Chief Executive Officer. Adam Corcoran, who currently leads Alden Credit Union, will assume the role of Regional President, ensuring that the strong community ties and local presence of Alden continue in Western Massachusetts.

Under this merger, approximately 128,000 members will be served, with the combined assets totaling around $2.3 billion. The institution plans to maintain 25 branches across Massachusetts, Maryland, and Virginia. Specifically, Alden Credit Union's branches located in Chicopee and Belchertown will remain functional, providing a seamless transition for existing members.

Alden Credit Union’s leadership expressed their commitment to preserving the value of personalized service that members have come to expect. According to Corcoran, “They trust us to protect what makes Alden special — our relationships, our local service, and our commitment to their financial well-being.” This merger allows both credit unions to offer broader and more innovative financial wellness programs to their members.

The merger is anticipated to deliver several important benefits to both Alden and Hanscom members, which include:

• - Expanded access to branches and ATMs: With additional locations and more ATMs, members will enjoy greater convenience in accessing their funds.
• - Investment in digital banking technology: Both credit unions recognize the importance of advancing their digital services to meet the evolving needs of their members.
• - Increased lending capacity: The merger will enhance the ability to offer more home mortgages, auto loans, and support for small businesses, making financial assistance more accessible.
• - Enhanced coaching programs: Members will gain broader access to free Certified Financial Coaching, which aims to educate and empower individuals regarding their financial choices.
• - Long-term operational strength: Consolidating resources will help ensure a more resilient financial institution in the long run.

Hanscom Federal Credit Union has established a strong reputation for its leadership in financial wellness, fortified by its notable Certified Financial Coach program. This program offers free and personalized coaching to help members achieve their financial goals. Additionally, their innovative program, WealthTrek, transforms financial education into an engaging, immersive experience that equips members with essential knowledge about managing their finances.

During the regulatory review period, which precedes the merger's completion, both credit unions will continue to operate as independent entities, ensuring that the services and accounts of members remain unchanged. Communication will be maintained throughout this process to reassure members that no immediate alterations will occur regarding their existing accounts and services. The merger is projected to be completed by the fourth quarter of 2026, contingent upon receiving regulatory approval.

As a trusted financial institution, Hanscom Federal Credit Union was founded in 1953 and has served over 115,000 members across 23 branches. With its dedication to providing unbiased financial guidance and helping members attain financial wellness, the merger with Alden Credit Union is expected to bolster these commitments significantly.

Conversely, Alden Credit Union, established in 1939, is a member-owned financial cooperative dedicated to personalized service and community-oriented financial solutions. With nearly 14,000 members and around $200 million in assets, Alden has nurtured a trusted relationship within its community. The collaboration with Hanscom further enhances its ability to serve members effectively.

In conclusion, this merger embodies the shared mission of both credit unions to support their members and communities, ushering in a new era of financial empowerment that prioritizes innovation, access, and personalized service.