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Proposed Merger with Bridgewater Credit Union

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The Merger Vote Passed.  It's a YES!

Merrimack Valley Credit Union members voted overwhelmingly in favor of the merger (230 For and 43 Against) while Bridgewater Credit Union members voted 162 to 21 in favor of the merger.  Thank you to all our members who participated in the voting. 


Dear Valued Member,
As many of you know, Merrimack Valley Credit Union recently converted to a state charter due to members voting in favor of the change. Prior to this, Merrimack Valley Credit Union had entered into a merger agreement with Bridgewater Credit Union. Unfortunately, a U.S. District Court ruling in March of this year overturned two of NCUA’s provisions which restricted federally chartered credit unions from expanding their field of membership, which, in turn, prevented the proposed merger from happening. Now that the state charter has passed, it has paved the way for Merrimack Valley Credit Union to move forward with the merger.

This merger is a great opportunity for Merrimack Valley Credit Union and its members for the following reasons:

  • The combined organization with 10 branches will strongly enhance our resources and position us for future growth in the industry.
  • It will allow us to expand our products and services to meet the evolving technological needs of our membership.
  • It will provide improved member service through a larger branch network and member service center.
  • Merrimack Valley Credit Union will gain $36 million in net worth from Bridgewater Credit Union.

As with the state charter, Merrimack Valley Credit Union members have to vote on the proposed merger.

Please join us for a special meeting to vote on the proposed merger with Bridgewater Credit Union. During the Special Meeting, members will have the opportunity to ask our senior management any questions before casting their votes.

Date: Monday, October 29, 2018
Time: 12:00 p.m. to 7:00 p.m.
Location: Merrimack Valley Credit Union Corporate Office, 500 Merrimack St., Lawrence, MA.

At the Special Meeting, Members will vote For both Proposals below or Against both Proposals.

Proposal Number 1
That the merger of Bridgewater Credit Union with and into Merrimack Valley Credit Union (the “Merger”), pursuant to the Agreement and Plan of Merger dated as of January 17, 2018 by and between Bridgewater Credit Union and Merrimack Valley Federal Credit Union, as Amended on September 24, 2018 be, and it hereby is, approved.

Proposal Number 2
That the By-Laws of Merrimack Valley Credit Union be amended concurrently with the Merger so as to include within Merrimack Valley Credit Union’s field of membership all those who currently are eligible for membership under Bridgewater Credit Union’s current field of membership.

The Board and Senior Management of Merrimack Valley Credit Union recommend that members vote “FOR” the proposed merger, which must have the approval of a majority of members of the Credit Union who vote on the proposal. Per state law, members are required to vote in person at the Special Meeting. Both Merrimack Valley Credit Union and Bridgewater Credit Union members will cast their votes in their respective locations on the same day. There will be no voting by mail.


Please be assured that you will be able to conduct business as usual without any interruption to your accounts or the branch offices you visit.


The combined organization will continue to operate as Merrimack Valley Credit Union in the northern territory and Bridgewater Credit Union, a division of Merrimack Valley Credit Union, in the southern territory. Merrimack Valley Credit Union’s corporate office in Lawrence will be the headquarters for the combined organization. There will be no staff layoffs. The new Board of Directors will consist of 11 board members from Merrimack Valley Credit Union and four board members from Bridgewater Credit Union.

Attend one of the town hall meetings

Date:  Thursday, October 18th OR Wednesday, October 24th
Time:  6:00 - 7:00 PM
Corporate Office, 500 Merrimack St, Lawrence, MA


  1. Watch the video of Merrimack Valley Credit Union and Bridgewater Credit Union explaining why you should vote For the merger.
  2. Read the Q&As.
  3. Email OR call 800-356-0067 option 1 if you have further questions.
  4. Learn more about Bridgewater Credit Union; go to

As always, thank you for your membership.

Dom Mazzocco's signature

Dom Mazzocco
Chairman of the Board of Directors

Peter Matthews's signature

Peter J. Matthews Jr.

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