Founded in 1955, Merrimack Valley Credit Union (MVCU) is a state-chartered community credit union with over $2.4 billion in assets. Our Corporate Office is located in Lawrence, Massachusetts. We currently serve over 115,000 members in Massachusetts, New Hampshire and Rhode Island, offering a wide range of savings and loan products, commercial services and digital banking to meet the financial needs of our growing member base. Our network of twenty-eight branches stretching from New Hampshire through Massachusetts down to Rhode Island comprise nineteen community branches and nine workplace branches. Our new Hanover Massachusetts branch will open in late summer 2023.
We are focused on serving families, individuals and businesses with the credit union philosophy of "people helping people". We believe in giving back to the communities we serve and demonstrate our commitment through our sponsorships of non-profit organizations, employee volunteer program, and financial literacy initiatives.
1955: MVCU is founded as the Communications Workers Employee Credit Union by Union Local 1365 in North Andover, MA. The name quickly changed to Merrimack Valley Credit Union. G. Harvey Ellis was our first General Manager.
1962: We reached the $1 million in assets milestone! Duncan MacLeod is now the General Manager.
1990s: Our field of membership opened up to serve more than 200 employer groups in the Merrimack Valley as well as their family members.
2005: MVCU converted to a community charter, allowing us to serve eligible members in the Merrimack Valley. Peter J. Matthews Jr. is the President & CEO.
2007: Our Corporate Office moved to Lawrence, MA, and we have five branches.
2016: We opened our sixth branch in Seabrook, NH.
2018: MVCU became a state-chartered credit union.
2019: MVCU merged with Bridgewater Credit Union, allowing us to serve members both in the Merrimack Valley and the south-shore region of Massachusetts. John J. Howard became our President & CEO.
2020: MVCU merged with the Ocean Spray Employees Federal Credit Union, expanding our field of membership to include all Ocean Spray employees and contract growers.
2021: MVCU expanded the field of membership to include additional counties in New Hampshire, Massachusetts, and Rhode Island.
2023: MVCU merged with RTN Federal Credit Union to welcome 40,000 additional members of RTN's Select Employer Groups and community members.
We are a financially sound and well-capitalized credit union. What this means is that we can expand the products and services we offer to better fit your financial needs. Despite our growth, our passion for serving our members has never wavered. We have your best interest at heart!
News
On Saturday, Sept. 9, members of the Hanover, Mass. and surrounding communities are invited to attend the grand opening celebration of the new Bridgewater Credit Union, a division of Merrimack Valley Credit Union, branch located at 1095 Washington Street (RT 53) in Hanover. The festivities will begin at 10:15 a.m. with a tour of the new branch and ribbon cutting ceremony, including welcome remarks from Merrimack Valey Credit Union’s President & CEO John J. Howard. A celebration will follow immediately after from 11:00 a.m. to 2:00 p.m. that features live music from Cat Country 98.1, food from Thyme Travel food truck, face painting, games, prizes and exclusive giveaways.
In response to the news of devastating fires that have taken over one hundred lives and impacted thousands of others in Maui, Hawaii, Merrimack Valley Credit Union (MVCU) has established the Hawaii Disaster Relief Fund through its GoodWorks Foundation to support CUAid, the disaster relief center of the National Credit Union Foundation (NCUF). MVCU has already donated $10,000 to CUAid to assist their credit union colleagues as they help their members through the process of rebuilding their lives. MVCU is now extending the opportunity to contribute to its members and the community at-large, who can donate to the Hawaii Disaster Relief Fund digitally or by cash or check at any of our branches.
On Wednesday, Aug. 16, Merrimack Valley Credit Union (MVCU) team members joined the Metro Boston Chapter of the Cooperative Credit Unions Association (CCUA) to build beds for A Bed for Every Child, an organization based in Lynn, Mass., that builds and donates new beds to children in need. MVCU staff organized two teams, each working together to construct a wooden twin sized bedframe. In addition to building a bed, teammates brought pillows, bedding, books and stuffed animals to personalize the beds and make them comfortable spaces for the children they will be delivered to.
When you’re young, it’s often exciting to experience the world outside of your hometown. Whether you drift far or stay close by, living in new places, working with new people and building your career independently are all incredible ways to grow and evolve. And sometimes, the path you take can lead you right back to your roots. This is what happened for Merrimack Valley Credit Union’s (MVCU) new Vice President of Commercial Lending Tim Frechette. After spending decades in lending and sales throughout New England, Tim, a Methuen, Mass. native, has made his way back to the Merrimack Valley to help credit union members both in and around his hometown.
Despite an increase in the volume of calls due to our recent merger, MVCU’s Member Support department has been extremely successful in reducing the occurrences of abandoned calls each day. An abandoned call occurs when a member who is placed on hold gives up and ends the call before getting to speak with a representative. In July 2022, the team had an average of 47 abandoned calls per day. As of June 2023, Member Support’s average number of abandoned calls per day is down to just seven!
