Hanscom Federal Credit Union and Alden Credit Union Announce Plan to Join Forces to Expand Financial Wellness, Innovation, and Member Impact

CHICOPEE, Mass. and LITTLETON, Mass., Feb. 5, 2026 /PRNewswire/ -- Alden Credit Union and Hanscom Federal Credit Union today announced that their respective Boards of Directors have unanimously approved a strategic partnership and merger plan designed to expand resources, enhance services, and strengthen long-term financial stability for Alden members.

After an extensive and carefully planned search process, Alden Credit Union selected Hanscom Federal Credit Union as a partner that shares its deep commitment to personalized service, community engagement, and member financial well-being.

Upon completion, the combined organization will operate under the name Hanscom Federal Credit Union and will be led by Peter Rice as President and Chief Executive Officer, with Adam Corcoran, CEO of Alden Credit Union, serving as Regional President, ensuring continued local leadership and a strong Alden presence in Western Massachusetts.

Together, the combined credit union will serve approximately 128,000 members, manage roughly $2.3 billion in assets, and operate 25 branches across Massachusetts, Maryland, and Virginia, including Alden Credit Union's two branch locations in Chicopee and Belchertown, Massachusetts.

All Alden employees will be retained, and Alden's branch locations will continue normal operations throughout the approval process and beyond.

"Our priority has always been our members," said Adam Corcoran, CEO of Alden Credit Union. "They trust us to protect what makes Alden special — our relationships, our local service, and our commitment to their financial well-being. After our comprehensive search, it was clear that Hanscom Federal Credit Union was the right partner to help us preserve those values while expanding the tools, technology, and educational resources available to our members."

Corcoran continued, "This partnership allows Alden to remain deeply rooted in our community while giving our members access to broader financial wellness programs, innovative services, and long-term strength. Most importantly, our members will continue to see the same familiar faces and receive the same personalized care they count on every day."

"This is a partnership grounded in shared purpose and a belief that credit unions exist to help people thrive," said Peter Rice, President and CEO of Hanscom Federal Credit Union. "Alden Credit Union has built a remarkable legacy of trust and service in its community, and we are honored to support and build upon that foundation."

If approved, the merger is expected to deliver important benefits to Alden and Hanscom members, including:

• Expanded access to branches and ATMs
  
  
• Continued investment in digital banking and innovative technology
  
  
• Increased lending capacity for home mortgages, auto loans, and small business support
  
  
• Broader access to free Certified Financial Coaching programs
  
  
• Enhanced long-term financial strength and operational resilience
  
  

Hanscom is nationally recognized for its leadership in financial wellness, anchored by its Certified Financial Coach program that provides members with free, one-on-one access to more than 45 certified coaches. Complementing this work is WealthTrek, the world's first financial questing experience, which transforms financial education into an immersive, hands-on journey that builds confidence and removes stigma around financial learning.

Adam Corcoran added, "I want to sincerely thank our Board of Directors for their thoughtful leadership and dedication throughout this process. Their focus was clear — finding a partner who would serve Alden members with the same care and integrity that has defined our credit union for generations. Hanscom Federal Credit Union shares those values, and together we are building a strong future for our members."

During the regulatory review period, Alden Credit Union and Hanscom Federal Credit Union will continue to operate independently. Members will be kept informed throughout the process and should expect no immediate changes to their accounts, services, or access.

The merger is anticipated to be completed in the fourth quarter of 2026, subject to regulatory approval and customary closing conditions.

About Hanscom Federal Credit Union

Hanscom, with more than $2.1 billion in assets, 115,000+ members, 300+ employees, and 23 branches across Massachusetts, Maryland, and Virginia, is one of the region's most trusted credit unions. Founded in 1953, the organization's mission is to be the trusted advisor people turn to for unbiased financial guidance, and its vision is to help every member achieve financial wellness.

Guided by its core values — Members First, Integrity, Teamwork, Innovation, and Empathy — Hanscom offers a full suite of financial products and services, supported by thousands of shared branches and service center locations nationwide. Hanscom created WealthTrek, the world's first financial questing experience, transforming financial education into an engaging, interactive journey. The credit union proudly supports its communities through the Hanscom Federal Credit Union Charitable Foundation, contributing more than $500,000 annually to causes supporting veterans, military families, students, and local organizations.

About Alden Credit Union

Alden Credit Union is a member-owned financial cooperative established in 1939 and headquartered in Chicopee, Massachusetts. With approximately $200 million in assets and nearly 14,000 members, Alden serves its membership with two branch locations in Chicopee and Belchertown, Massachusetts, offering personalized service and community-focused financial solutions.

SOURCE Hanscom Federal Credit Union