Nutmeg State Financial Credit Union and First Bristol Federal Credit Union Announce Plans to Merge
Dear Members,
On behalf of the Nutmeg Board of Directors, I’m pleased to share exciting news. As part of our goal to continually expand the value we offer members, Nutmeg is pursuing a cooperative partnership with First Bristol Federal Credit Union.
First Bristol Federal Credit Union is a natural partner for us, with a complementary culture, membership base, and branch network. A merger between our organizations brings our collective members multiple benefits. Through the partnership, Nutmeg will return to the Bristol community after many years with two new branches for members. In addition, with a larger deposit base as a combined organization, we’ll be able to expand our member lending programs. Long term, this partnership puts us in an even stronger position to grow, continue to offer great rates, and add new products and technologies.
I will remain CEO of our combined organization and First Bristol Federal Credit Union CEO Mark Cornacchio will remain in a leadership role as we welcome First Bristol Federal Credit Union members into the Nutmeg family. We will retain our state charter and our merged organization would operate under the Nutmeg name following integration of our systems. We are currently waiting for approval from our regulators, after which First Bristol Federal Credit Union members will vote on the merger.
We look forward to sharing more news in the months ahead about this exciting opportunity that brings you even greater value and convenience from your credit union membership. As always, thank you for your continued support of your credit union.
John Holt
CEO