Springfield, Mass.-based Arrha Credit Union is opening a new branch at 231 Hazard Ave. in Enfield, the company announced.
“We are a community-focused credit union and know our hometown banking style is what Enfield and surrounding communities need,” said Michael S. Ostrowski, president and CEO.
Rockville Bank was previously located in the building.
Arrha is part of a cross-border incursion of credit unions, as smaller lenders see growth opportunities from large bank mergers. The void in local, personalized customer service gives smaller institutions an opportunity to woo dissatisfied customers and fill gaps in local markets, bankers say.
Freedom Credit Union, also based in Springfield, is opening a branch in Enfield, at 115 Elm St., Unit 214.
In April 2019, Arrha’s membership approved the expansion of its field of membership to include people who live, work or attend school in Hartford and Tolland counties, along with their immediate family members.
The new branch aims to combine old-fashioned service with the latest technology.
“Credit unions are founded on giving back to their community, not giving money to their shareholders,” Ostrowski said.
The branch is open and is hosting grand-opening events this month. Arrha has other locations in Massachusetts, in West Springfield and Springfield.
