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Left to right: Artisan Industries Business Unit Administrator Gail Robinson, RTN Treasurer and CEO Richard Wright and Chris Houmiller.
Stoughton-based Artmet Federal Credit Union completed its merger into Waltham-based RTN Federal Credit Union yesterday after members voted last month to approve the deal.
Artmet FCU had 49 members and $300,000 in assets, making it the smallest credit union in Massachusetts. Artmet’s membership included employees and family members of Artisan Industries, which was previously located in Waltham. The company has provided thermal separation process solutions for more than 85 years, RTN said in a statement yesterday.
“I want to acknowledge the hard work and leadership that went into building Artmet Federal Credit Union through the years,” RTN Treasurer and CEO Richard Wright said in the statement. “We hope our new members will enjoy access to a wider offering of products and services that include mortgage loans, financial planning, insurance products, debit and credit cards, as well as a large ATM network. We are pleased to welcome our newest members of the RTN family.”
RTN Federal Credit Union has $1 billion in assets, nearly 50,000 members and 18 branches. RTN has more than 1,100 sponsor groups, including Raytheon Technologies and Brigham and Women’s Hospital.
“We are pleased to offer members expanded products and services, along with more branch access, and greater convenience with the same individualized attention,” said Gail Robinson, Artisan Industries Business Unit Administrator. “We look forward to a seamless transition for our members.”
This is the fifth credit union merger in Massachusetts this year. Other credit union mergers included Shrewsbury-based Central One Federal Credit Union’s acquisition of Worcester-based St. Vincent Hospital Credit Union, which had about $14.6 million in assets and 1,500 members, and Pittsfield-based Greylock Federal Credit Union’s acquisition of the Credit Union of the Berkshires, which had about $20 million in assets and 1,500 members.
Chelsea-based Metro Credit Union has made two acquisitions this year, merging with Gloucester Municipal Credit Union in February and Gloucester Fire Department Credit Union in November.
