Credit unions in Massachusetts, New York and Ohio began 2026 by completing their mergers.
On Jan. 1, the $163 million Arrha Credit Union in Springfield, Mass., consolidated with the $2.1 billion BrightBridge Credit Union in Lawrence, Mass. The combined organization will operate under the BrightBridge Credit Union name with $2.3 billion in assets and 333 employees who will run 23 branches and serve nearly 125,000 members.
For the next eight months, Arrha will continue to operate as a division of BrightBridge. It is expected that Arrha will officially adopt the BrightBridge brand name along with its branches following a systems conversion in August 2026.
Five Arrha executives will receive severance payments should they decide to resign from their position by Dec. 31, 2026. No severance will be paid should they be fired for cause by BrightBridge, according to merger documents filed with the NCUA.
Arrha President/CEO Michael Ostrowski will receive a severance payment of $488,000. What’s more, the credit union’s board of directors voted to reward Ostrowski for his loyal service with a one-time bonus of $400,000, which provides him with a total payout of $888,000.
Arrha CFO Harry C. Moore III will receive a severance payment of $400,000; Vice President of Operations Allison Harland, $248,102; Commercial Lending Vice President Anthony Franco, $258,003; and Chief Lending Officer Robert S. Ciraco, $294,902, according to the merger documents.
“This partnership brings together two strong, mission-driven credit unions that share a deep commitment to helping our members, our team and our communities thrive,” BrightBridge President/CEO John J. Howard said in a prepared statement. “By combining our strengths, we are expanding access to financial opportunities and building an even stronger foundation for the future.”
Howard will continue to serve as CEO of the combined organization.
On Monday, the $2.8 billion AmeriCU Credit Union in Rome, N.Y., and the $57.5 million Mountain Valley Federal Credit Union in Peru, N.Y., announced they have officially merged.
The combined entity will manage $2.8 billion in assets, and its 470 employees will run 25 locations serving more than 200,000 members across New York State.
“This merger marks an exciting new chapter for AmeriCU Credit Union,” AmeriCU Credit Union President/CEO Ronald Belle said. “By joining forces, we’re now able to provide more services, innovative technology, and a broader network of branches and ATMs to the Mountain Valley Region, all while staying true to our shared mission of ‘people helping people.’ We look forward to continuing to support our communities and helping more members live life, dream big and achieve financial success.”
Mountain Valley President/CEO Maggie Fournier-Pope will receive a one-time retention payment of $7,500 and a second one-time retention payment of $7,500 after six months, according to merger documents filed with the NCUA. She will also receive a direct compensation salary adjustment of $26,000. The direct compensation salary adjustment aligns with the AmeriCU assistant vice president compensation levels, according to merger documents.
All Mountain Valley employees have continued their employment with AmeriCU.
Last Friday, the $1.9 million Teamsters Local 92 Federal Credit Union in Canton, Ohio completed its consolidation with the $1.8 billion 7 17 Credit Union in Warren, Ohio.
Although the Teamsters’ branch in Canton will close, its 518 members will continue to be served at the 7 17 branch in North Canton.
“Our history is deeply rooted in the labor movement, and we know the pride and power that come from standing together,” 7 17 President/CEO John Demmler said. “It’s a true example of banking with purpose, building stronger communities — and together, we can accomplish more than we ever could alone.”
Last August, 7 17 began supporting Teamsters Local 92 with additional expertise and resources. As the collaboration progressed, 7 17 was invited to serve as a merger partner because of its capabilities given the increasing technology and compliance requirements facing credit unions today.
“I really believe what 7 17 stands for, and the employees and leadership. With the products 7 17 offers it’s beneficial for everyone,” Teamsters Local 92 Board President Ron Crosbie said. “I’ve been a long-time member of Teamsters 92 FCU. While Teamsters has always been there for me, I believe going forward we can be more effective as a part of 7 17.”
This consolidation did not appear on the NCUA’s list of proposed mergers.
Peter Strozniak can be reached at peter.strozniak@arc-network.com.
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