CT credit union continues M&A spree

The Connecticut Department of Banking has signed off on the latest merger deal involving a growth-minded, East Hartford-based credit union.

The state DOB said it approved on Feb. 7 the merger of Enfield-based C S P Employee Federal Credit Union, with and into America’s First Network Credit Union.

The deal is expected to be completed in April.

C S P has 1,238 members, $10.3 million in assets and serves state Department of Correction employees and their families. 

America’s First has $87.8 million in assets and 8,313 members. It has been aggressively growing in recent years through several merger deals. 

Last year, America’ first combined with Greenwich-based Arnold Bakers Employee Federal Credit Union and Northeastern Connecticut Healthcare Credit Union in Putnam. 

It now has branch locations in East Hartford, North Haven, Groton, Trumbull, Putnam, Stamford and Fairfield.