Hanscom Federal Credit Union to acquire Alden Credit Union

February 12, 2026 12:07 am
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Hanscom Federal Credit Union and Alden Credit Union have agreed to merge, with Hanscom FCU as the surviving institution operating under its current name, but the deal is still pending regulatory and member approvals and is expected to close in Q4 2026.

Transaction structure and timeline

  • Both boards have unanimously approved a strategic partnership and merger agreement under which Alden will be acquired and combined into Hanscom FCU.

  • The combined organization is projected to have about 128,000 members, roughly 25 branches, and approximately 2.3 billion dollars in assets across Massachusetts, Maryland, and Virginia.

  • Closing is targeted for the fourth quarter of 2026, contingent on regulatory approval (NCUA, state regulators as applicable) and customary closing conditions, as well as required member approvals.

  • Until closing, the institutions will continue to operate independently with no immediate changes to member accounts or access.

Leadership, branding, and branches

  • The combined institution will retain the Hanscom Federal Credit Union name and branding.

  • Hanscom’s CEO Peter Rice will serve as President and CEO of the combined credit union; Alden’s CEO Adam Corcoran will become a regional president overseeing Western Massachusetts operations.

  • Alden’s branches in Chicopee and Belchertown, Massachusetts, are expected to remain open, and all Alden employees are expected to be retained.

Stated strategic rationale and member impact

  • Strategic drivers cited include increased scale, technology investment, expanded digital banking, broader branch/ATM access, and enhanced long-term financial stability, especially for Alden’s membership base.

  • Member-facing benefits highlighted:

    • Wider branch and surcharge-free ATM network.

    • Greater lending capacity for mortgages, auto loans, and small business lending.

    • Continued or expanded access to free certified financial coaching and financial wellness programs.

    • Commitment to preserving local service, with Alden’s existing staff and community presence in Western Massachusetts.

At‑a‑glance comparison

Feature Hanscom FCU (pre‑merger) Alden CU (pre‑merger) Combined (projected)
Assets Larger share of ~2.3B dollars in assets; exact standalone not cited in press materials Remainder of ~2.3B dollars combined; individually much smaller institution About 2.3B dollars in assets total
Members Majority of 128,000 members combined Minority portion of 128,000 members combined Approximately 128,000 members
Branch footprint Primarily MA (Hanscom AFB area, I‑495 corridor), plus MD and VA locations Two branches in Chicopee and Belchertown, MA 25 branches across MA, MD, and VA
Name after merger Hanscom Federal Credit Union Discontinued as a separate brand, legacy preserved locally via regional structure Hanscom Federal Credit Union
Leadership roles Peter Rice to remain CEO of combined entity Adam Corcoran becomes regional president for Western MA Centralized leadership with regional oversight model

If you’d like, I can drill into regulatory/NCUA implications, likely approval path, or how this fits into broader CU consolidation trends.

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