John J. Howard will assume command of Merrimack Valley Credit Union. (Video capture.)
Citing a competitive financial climate, Merrimack Valley Credit Union has officially merged with Bridgewater Credit Union after members voted to approve the consolidation late last month.
Locally, the credit union’s name will not change, but President Peter J. Matthews Jr. will retire and Bridgewater’s President and CEO John J. Howard will head the combined nonprofit organization, according to a statement. Howard is a former Merrimack Valley Credit Union vice president.
The combined credit unions will be based at Merrimack Valley Credit Union’s existing Lawrence location. The Bridgewater Credit Union name will continue to be used where branches exist.
All Merrimack Valley Credit Union employees at the Haverhill, Methuen, Lawrence, North Andover and Plaistow and Seabrook, N.H. branches, will keep their jobs and services at those locations will stay the same.