LAWRENCE, Mass.–Two credit unions that have combined to create a multi-billion-dollar CU here said they have now finalized their merger.
Effective June 1, RTN Federal Credit Union became part of Merrimack Valley Credit Union. At year-end 2022, when the two CUs announced plans to merge, RTN FCU has $1.046-billion in assets, while MVCU had $1.324 billion in assets. The credit union, which now has more than 115,000 members, is operating under the Merrimack Valley Credit Union name until a new name is launched in late 2024.
The merger was approved by members during a vote in March.
“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.”
Branch Celebrations
To celebrate the merger, MVCU said it 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.
Former RTN Treasurer & CEO Richard E. Wright is serving as a “special advisor” to the merged CU.
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