Credit Union Opens New Branch Office In Enfield

ENFIELD, CT ? A Massachusetts-based credit union in existence for nearly a century has expanded into Connecticut, opening a branch office in the Hazardville section of Enfield at a site which has housed numerous financial institutions over the years.

Arrha Credit Union is now open at 231 Hazard Avenue. Most recently, the building housed a People's United branch, and has also been home to United Bank, Rockville Bank, the Savings Bank of Rockville and the First National Bank of Enfield since its construction in 1951.

According to Enfield property records, Arrha bought the property in mid-April for $369,000.

"We are excited to be opening a branch in Enfield and support surrounding communities as well," Arrha president/CEO Michael S. Ostrowski said. "We are a community-focused credit union and know our hometown banking style is what Enfield and surrounding communities need."

Arrha Credit Union is a full-service credit union, which offers their in-branch member service, as well as the latest online and digital banking solutions to meet member needs. The branch will provide old-fashioned service with the latest technology.

It originated in 1929 when 31 teachers from the Springfield school system began to meet as an attempt to ensure financial security amongst its members. After several meetings, the Springfield Teacher?s Credit Union received, from the Commissioner of Banks and the Secretary of State, a Certificate of Incorporation on Oct. 5, 1929. For many years, the credit union operated after school out of Commerce High School until property on State Street was purchased in the 1960s, Ostrowski said.

Its current main office at 145 Industry Avenue in Springfield opened Aug. 7, 1989. In 2015, "after examining how to better serve all of our members and create an identity that truly represents who we are today," Ostrowski said, the name was changed to Arrha Credit Union.

"Arrha, meaning money in exchange for a contract, pledge, or earnest, is one of the oldest words in the English language and reflects our pledge to assist our members in reaching their financial goals by providing superior products and services in a personal manner," Ostrowski said.

A branch office in West Springfield opened June 1, 2016. In April 2019, the membership approved an expansion to include those who live, work or attend school in Hartford and Tolland counties in Connecticut and immediate families of such persons, according to Ostrowski.

"Arrha Credit Union will bring hometown banking back; this location is perfect to make that happen," Ostrowski said. "Rockville Bank, also known as the Savings Bank of Rockville, once held this location and they had the same style of hometown, superior customer service banking. We are excited to welcome these customers back and become members, part of the Arrha financial family. This means offering home-style banking to meet the personal and business needs for families, individuals, and businesses."

Adam Baldwin will be the Assistant Vice President, Regional Branch and Business Development Manager. He previously worked at the Enfield branch location and is actively involved in the community, including service as a Rotarian and on the board of the Enfield Food Shelf.

"I am excited to be part of the Arrha Credit Union family and serve the Enfield community and its members," Baldwin said. "I look forward to providing caring service, offering rewarding membership benefits to existing and new members, and growing these relationships."

Industry veterans Tony Franco and Amanda Howie will serve as Vice President of Commercial Lending and branch manager, respectively.

More information about the credit union may be found here.