Bank / Credit Union

Hanscom Federal Credit Union to acquire Alden Credit Union

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February 12, 2026

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Hanscom Federal Credit Union and Alden Credit Union have announced that their boards of directors have unanimously approved a merger agreement aimed at expanding member resources and regional stability.

The combined entity will operate under the Hanscom Federal Credit Union name, managing approximately $2.3 billion in assets and serving 128,000 members. The organization will maintain 25 branches across Massachusetts, Maryland and Virginia.

Hanscom CEO Peter Rice will lead the combined credit union. Alden CEO Adam Corcoran will transition to the role of regional president, overseeing operations in Western Massachusetts to ensure continuity for Alden's Chicopee and Belchertown locations.

"This partnership allows Alden to remain deeply rooted in our community while giving our members access to broader financial wellness programs," Corcoran said in the release.

Key highlights of the agreement include:

• No job losses: All Alden employees will be retained.
• Expanded services: Members gain access to Hanscom's certified financial coaching and increased lending capacity for mortgages and small businesses.
• Operational continuity: Alden branches will remain open and operate independently during the regulatory review.

The merger is expected to close in the fourth quarter of 2026, pending regulatory approval and customary closing conditions.