About Merrimack Valley Credit Union
For more than half a century, Merrimack Valley Credit Union has been proudly providing the community it serves with quality financial products and services. Our goal is to be here for our members at every stage of their lives for all of their financial needs.
From checking and savings accounts to loans, credit cards and more, Merrimack Valley always has its members’ best interests at heart.
The Merrimack Valley History—Serving Our Members for Over 50 Years
What started in 1955 as the Communications Workers Employee Credit Union founded by the Union Local 1365 became what you now know as Merrimack Valley Credit Union within its first year. Our first offices were located at Western Electric, 1600 Osgood Street, North Andover. G. Harvey Ellis was our first general manager.
Seven years later, we had our first $1 million in assets. That number grew to $100 million by the 1980s. During that time period, our main office moved to 1475 Osgood Street and Duncan MacLeod became our second general manager.
Experiencing continued solid growth, we opened up our field of membership in the 1990s and now serve more than 200 employer groups in Merrimack Valley as well as their family members. This growth in membership led to us opening a second branch in Haverhill.
At the beginning of the millennium, we grew to $300 million in assets and Peter J. Matthews, Jr. became our President and CEO. In 2005, the Credit Union converted to a community charter, expanding membership eligibility to towns in the Merrimack Valley region in Massachusetts and New Hampshire. In 2007, we relocated our corporate headquarters to 500 Merrimack Street in Lawrence and now have branches in Haverhill, Lawrence, North Andover and Methuen, MA and Plaistow, NH. In September 2016, we opened our sixth branch in Seabrook, NH.
On October 1, 2018, Merrimack Valley Credit Union became a state-chartered credit union after members approved the decision to migrate to a state charter. This allowed Merrimack Valley Credit Union to pursue a merger with Bridgewater Credit Union which was voted overwhelmingly for by members of both credit unions. After all regulatory approvals were received, Merrimack Valley Credit Union and Bridgewater Credit Union officially merged on February 1, 2019, with Bridgewater Credit Union operating as a division of Merrimack Valley Credit Union. The combined credit union now serves over 82,000 members in the northern and southern regions through a network of 10 branch locations. John J. Howard became the new President & CEO of the combined organization. Peter Matthews retired after 16 years at the helm.
Sixty years later, we have continued to grow at a strong steady pace, and now have more than $1 billion in assets. Throughout these major changes and our extensive history, our focus has remained constant. We’re still all about the credit union mission of “people helping people” and offering you quality products and services at reasonable rates and costs. With our roots solidly planted in the Merrimack Valley, we continue to be dedicated to the communities we serve.