Mass. credit union turns to backup plan after sale to bank falls through
Arrha Credit Union in Springfield, Mass., has agreed to merge into another credit union after its unconventional plan to sell to Pittsfield Co-operative Bank in Pittsfield, Mass., fell through.
The $2.2 billion-asset BrightBridge Credit Union in Lawrence, Mass., will absorb Arrha in a merger that should be completed earlier next year.
“Arrha Credit Union has a long-standing reputation for supporting its members with integrity, care and genuine down-to-earth service. Our partnership allows us to build upon that legacy while investing in future growth and innovation,” BrightBridge President and CEO John Howard said in a press release.