CrossPoint Federal Credit Union’s former headquarters branch in Hamden is slated to relocate following its merger with the much larger Nutmeg State Financial Credit Union.
In what is being billed as a major upgrade, CrossPoint Federal Credit Union’s former headquarters branch in Hamden is slated to relocate following its merger with the much larger Nutmeg State Financial Credit Union.
Nutmeg has 66,360 members and $888.76 million in assets, according to the National Credit Union Administration. CrossPoint has 10,260 members and $157.83 million in assets. The two institutions announced last year that their merger would take effect Dec. 1.
Nutmeg has applied to the state Department of Banking to close the branch at 105 Sanford Ave. in Hamden — CrossPoint’s former headquarters — and open a branch at 1647 Whitney Ave. in Hamden. Both moves are planned for early May.
Nutmeg CEO John Holt said the move is fulfilling a plan set by CrossPoint leadership to move to a much larger and advanced branch in Hamden.
"It's a replacement and a major upgrade," Holt said Wednesday. "This is excellent for the members. It's a better location."
CrossPoint continues to operate as a division of Nutmeg for now. The operations will more fully combine in April, including CrossPoint locations taking on Nutmeg branding.
On its website, CrossPoint lists branches in downtown New Haven, Branford and at Southern Connecticut State University. Nutmeg operates two branches in Bristol, along with locations in Glastonbury, Manchester, New Britain, Orange, Rocky Hill and Stratford, including one inside Rocky Hill High School.
The CrossPoint merger was the second recent merger for Nutmeg, which folded in First Bristol Federal Credit Union in 2024 to become a 10-branch, 48,000-member organization.
With the CrossPoint merger, Nutmeg is approaching $1 billion in assets, a milestone that could be met before the close of this year, Holt said.
