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BrightBridge Credit Union and Arrha Credit Union have announced their intent to merge.

It comes nearly a year after Springfield-based Arrha controversially tried, then apparently failed to sell itself to Pittsfield Cooperative Bank.

The merger would see Lawrence-based BrightBridge expand its field of membership to serve the Hampden, Hampshire and Franklin counties in Massachusetts, and Hartford and Tolland counties in Connecticut.

“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 and 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.”

If approved by members of both credit unions and regulators, the combined institution will have 23 retail branches and will have combined assets of nearly $2.4 billion and approximately 125,000 members. The deal will mark BrightBridge’s first location west of Worcester and its second merger after rebranding last fall with ambitions to grow its brand beyond the Merrimack Valley.

“We believe this partnership is exceptionally beneficial to our members, our team members and to our community,” Michael Ostrowski, President & CEO of Arrha Credit Union said 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.”

In August of 2024, Arrha Credit Union and Pittsfield Cooperative Bank were seeking to merge, with the credit union aiming to fold itself into the bank.

At the time, leading voices in the credit union industry lamented the credit union’s decision to sell itself to a bank, rather than to another credit union.

Arrha Credit Union to Merge With BrightBridge Credit Union

by Sam Minton time to read: 1 min
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