Hanscom Federal Credit Union has acquired W.H. Nichols Employees Federal Credit Union as of Jan. 1.
Devens, Mass.-based W.H. Nichols Employees FCU had $1 million in assets and 256 members prior to the deal. Financial terms of the transaction were not disclosed.
W.H. Nichols Employees FCU made a good fit for Hanscom, which is headquartered at Hanscom Air Force Base in Bedford, Mass. The acquirer credit union, which has $1.1 billion in assets and serves 61,624 members, already had a branch in Devens, which will provide the members from the purchased credit union with in-person service.
Before the merger, W.H. Nichols Employees FCU only had one branch and no full-time employees.
