About

About Us


Welcome to the Arrha Credit Union, your full-service, not-for-profit financial institution.

Our Mission

To assist our members in reaching their financial goals by providing superior products and services in a personalized manner.

We’re member-owned and operated so you’ll always feel at home here. And, since we have no stockholders to pay, profits (after operating expenses) are returned directly to you and your fellow members, in the form of competitive dividend rates, low loan rates and reduced fees for services. Arrha Credit Union is regarded as the premier educational base credit union in the Western Massachusetts financial community. Originally chartered on October 5, 1929 with thirty-one original members. Today we serve those individuals who live or work in Hampden, Hampshire or Franklin counties. In addition, we continue to serve the employees of the Springfield Public Schools, American International College, Springfield Technical Community College, Minnechaug Regional High School and the Massachusetts Career Development Institute along with the retirees and their families.


In April 2019, the membership approved the expansion of our field of membership to include those who live, work or attend school in Hartford and Tolland counties in Connecticut and immediate family of such persons. 

The Official Credit Union of Springfield Teachers 1929 - Founded on Education

Safety You Can Trust

Our History

Many of us today have had an interest in our "roots" or family origin. Similarly, our own Credit Union has a most interesting origin.


Perhaps sensing the ominous times ahead, 31 teachers from the Springfield School System began to meet at 32 Spring Street as an attempt to insure the 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 October 5, 1929. Phillip Fox was the first president and recorded assets of $2,160.


For many years the credit union operated after school out of Room 125 at Commerce High School until property at 427 State Street was purchased in the 1960’s. The membership continued to grow over the next several decades until it became necessary to expand once again.


Ground was broken on the current main office at 145 Industry Avenue in Springfield on November 4, 1988, and the credit union opened its doors on August 7, 1989.

Arrha Credit Union 145 Industry Avenue in Springfield

In 2015, after examining how to better serve all of our members and create an identity that truly represents who we are today, we decided to change our name to Arrha Credit Union. Arrha, meaning a pledge in 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.

Arrha Credit Union 145 Industry Avenue in Springfield

The credit union has continued to expand since that time and opened a branch in West Springfield at 63 Park Avenue on June 1, 2016. Since our humble beginnings, we have grown and expanded our membership to a much bigger community. Our Credit Union boasts over 9,000 members with assets of 138 million dollars.


In April 2019, the membership approved the expansion of the credit union's field of membership to include Hartford and Tolland counties in Connecticut and the immediate family members of such persons.

Arrha Credit Union Enfield, CT

On June 28, 2022 the credit union expanded in Enfield, Connecticut.  “We are excited to be opening a branch in Enfield and support surrounding communities as well," says Michael S. Ostrowski, President and CEO. “We are a community-focused credit union and know our hometown banking style is what Enfield and surrounding community’s need. Arrha Credit Union will bring hometown banking back, this location is perfect to make that happen. 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."


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 credit union provides old- fashioned service with the latest technology.  The credit union defines community “as family" and considers members part of our financial family, to help them achieve their goals...each and every day. Community also means decisions are being made, right where you live. When decisions are made locally area businesses and individuals benefit. It also means that the person knows ‘you.’

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