PROVIDENCE, R.I.–Two Rhode Island credit unions have announced merger plans. The $276-million Rhode Island Credit Union and the $30.5-million Alliance Blackstone Valley FCU in Pawtucket said they will combine operations subject to the approval of the ABVFCU membership and regulatory agencies.
Rhode Island Credit Union will be the surviving name and charter.
“We are pleased that Rhode Island Credit Union and Alliance Blackstone Valley Federal Credit Union have reached this merger agreement,” said Rhode Island Credit Union President/CEO David B. Suvall. “We look forward to completing the merger and combining our resources to meet the financial needs of current and future members.”
Plans call for the sole Alliance Blackstone Valley location to become a branch of RICU.
The combined credit union will have approximately 29,000 members.