Business
Hanscom Federal Credit Union Completes Acquisition of The Peoples Bank
Hanscom Federal Credit Union ("Hanscom" or "HFCU") today announced the completion of its previously announced purchase and assumption transaction involving the majority of assets and liabilities of The Peoples Bank ("Peoples Bank"), located in Maryland, following receipt of all required regulatory and shareholder approvals.
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[{"type":"text","content":"LITTLETON, Mass. and CHESTERTOWN, Md., Jan. 5, 2026 /PRNewswire/ -- Hanscom Federal Credit Union ("Hanscom" or "HFCU") today announced the completion of its previously announced purchase and assumption transaction involving the majority of assets and liabilities of The Peoples Bank ("Peoples Bank"), located in Maryland, following receipt of all required regulatory and shareholder approvals.","length":423,"tagName":"p"},{"type":"image","alt":"Hanscom Federal Credit Union","displaySize":"","headline":null,"caption":"Hanscom Federal Credit Union","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":108,"url":"https://media.zenfs.com/en/prnewswire.com/64aeb445c37771e12ff0d8372cac0a3f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/6hD9EexW1ew5zDXVX_aH9Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE5MDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/64aeb445c37771e12ff0d8372cac0a3f","width":400,"height":108}},"href":"https://mma.prnewswire.com/media/2854450/Hanscom_FCU_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The transaction, originally publicized in December 2024 and unanimously approved by the Boards of Directors of both organizations, marks Hanscom's official entry into Maryland and Washington, D.C. As of today, Peoples Bank now operates as Peoples Powered by Hanscom Federal Credit Union, systems conversion is expected to be completed in Summer 2026.","length":354,"tagName":"p"},{"type":"text","content":"With the consummation of the transaction, Hanscom now has approximately $2.1 billion in total assets, serves more than 115,000 members, and operates 23 branches across Massachusetts, Maryland, and Virginia. As part of the transaction, Fleetwood Insurance Group ("FIG"), the insurance agency subsidiary of The Peoples Bank, has joined Hanscom Federal Credit Union, expanding the organization's ability to serve members through integrated financial and insurance solutions.","length":485,"tagName":"p"},{"type":"text","content":""The completion of this acquisition marks an extraordinary milestone for both organizations," said Peter Rice, President & CEO of Hanscom Federal Credit Union. "Hanscom and The Peoples Bank have always shared the same core values – putting people first, strengthening communities, an...