Merrimack Valley Credit Union Finalizes Merger with RTN Federal Credit Union
The combined institution is now one of the five largest credit unions in Massachusetts.
Lawrence, Mass. – June 2, 2023 – On Thursday, June 1, Merrimack Valley Credit Union (MVCU) finalized its merger with RTN Federal Credit Union. The newly merged credit union will operate under the Merrimack Valley Credit Union name until a new name is launched in late 2024. MVCU is now one of the five largest credit unions in Massachusetts with more than $2.3 billion in assets, 115,000 members and 28 branches.
In March, members of MVCU and RTN voted in favor of merging the two financial organizations, clearing a major hurdle that allowed the credit unions to begin the transition into becoming one financial institution.
“Over the past few months, I have watched my teammates from MVCU and the former RTN work together to make this merger as smooth of a transition as possible for both our members and team members,” said John J. Howard, president and CEO of MVCU. “We are so fortunate to share very similar cultures and values, and working together has been such a wonderful experience. I am so excited to be a part of the team that runs this financial institution and to continue serving our members and community with the amazing service they have come to expect!”
Beginning on June 1, MVCU members (including former RTN members) will be able to bank at any MVCU or former RTN branch location and utilize all MVCU and RTN ATMs surcharge-free.
To celebrate the merger, MVCU decorated their branches with balloons and provided lunch for team members in the branches and corporate offices. MVCU’s senior team leaders also visited the branches and corporate offices to share in the camaraderie.
Information and important updates for MVCU members and former RTN members can be found at www.mvcu.com.
About Merrimack Valley Credit Union
Founded in 1955, Merrimack Valley Credit Union (MVCU) is a state-chartered community and employer-based credit union with more than $2.3 billion in assets. The corporate office is located in Lawrence, Massachusetts. MVCU currently serves more than 115,000 members in Massachusetts, New Hampshire and Rhode Island. MVCU also serves more than 1,100 employer groups, including two major Massachusetts employers, RTX (Raytheon) and Brigham and Women’s Hospital, and operates 19 retail branches located in Amesbury, Bridgewater, Brookline, Danvers, Dorchester, Fairhaven, Haverhill, Hanover (coming soon), Lawrence, Marlboro, Methuen, North Andover, Plymouth, Quincy, Tewksbury, Waltham and Worcester, Mass., plus Plaistow and Seabrook, N.H. MVCU offers a wide range of savings and loan products, commercial services and digital banking to meet the financial needs of a growing member base.
Be the first to comment