Banks

In rare deal, Mass. credit union will acquire a bank

Hanscom Federal Credit Union, which has assets of $1.9 billion and is headquartered in Littleton, has signed a deal to purchase a Chestertown, Md.-based mutual bank

By William Hall • •

Peter Rice is the CEO of Hanscom Federal Credit Union, headquartered in Littleton.

A Massachusetts credit union is making an acquisition, but the acquiree isn’t another financial cooperative. It’s a bank.

Hanscom Federal Credit Union, which has assets of $1.9 billion and is headquartered in Littleton, has signed a deal to purchase a Chestertown, Md.-based mutual bank.

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