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Rockland Federal Credit Union has entered an agreement to absorb Community Credit Union of Lynn, creating a $3.6 billion-asset lender with 200,000 members.
The merger will see Rockland scale upwards into the second-largest credit union in Massachusetts behind Digital Federal Credit Union – soon to rebrand into First Tech Credit Union following a merger of equals with a California credit union of the same name.
“Community CU embodies everything that is special about credit unions,” Rockland Federal Credit Union CEO Kristin VanBeek said in a statement. “Their caring delivery of services to their community has been a hallmark from the credit union’s very first days. We will honor and respect that record in everything that we do together.”
Under the terms of the agreement, Community Credit Union will merge into Rockland Federal Credit Union, pending regulatory approval and the vote of Community CU members. The combined credit union will have nearly $3.6 billion in assets, operate as a division of Rockland FCU, and will serve more than 200,000 members across 12 Massachusetts branches.
There will be no changes to the Rockland leadership team in conjunction with the merger. Additionally, all Community Credit Union employees will be offered employment with Rockland Federal Credit Union, according to Rockland.
Community Credit Union was founded in 1955 by a group of Greek-American leaders. Rockland Federal Credit Union is a federally chartered credit union that was established in 1922. Rockland has more than 200,000 members with over $3.4 billion in assets while Community Credit Union has $183,293,793 in assets and 6,471 members, according to the National Credit Union Administration
“We are thrilled to be combining with such a high-quality institution as Rockland FCU,” Community Credit Union chairman Peter Katsos said in a statement. “Rockland FCU understands, respects and honors the special history and heritage of our brand and its members.”
The merger is expected to be finalized by March 31.
The deal is the latest in a recent wave of credit union consolidation. There have been two completed mergers of credit unions in 2025, according to the NCUA, and six total dating back to 2024. Pending mergers include Arrha Credit Union’s plans to merge with BrightBridge Credit Union, and St. Mary’s Credit Union’s plans to merge with MetroWest Community Federal Credit Union.
