The merger between Marlborough-based Digital Federal Credit Union and California-based First Tech Federal Credit Union will go into effect on Jan. 1, after First Tech members voted to approve the two firms combining their efforts.
The merger will see the two entities combined in January, although both will continue to operate as independent divisions in 2026.
DCU President and CEO Shruti Miyashiro will lead the newly-combined entity, according to a First Tech press release issued Tuesday. Greg Mitchell, current President and CEO of First Tech, is retiring at the end of the year.
“This merger of equals is more than a milestone—it’s a launchpad,” Miyashiro said. “By joining forces, we’re purposefully building something different: a financial partner that designs experiences that are as forward-thinking as the members and communities we serve.”
First Tech will now hold $28.7 billion in assets, with 2 million members across 50 branches in eight states. The newly-combined entity will use First Tech’s current headquarters in San Jose, according to a meeting notice sent to First Tech members in October.
The merger was first announced in September 2024 and gained federal approval in October 2025.
The merger will eventually lead to the DCU Center in Worcester being renamed as the First Tech Center, according to Boston Business Journal. DCU inked a renewal of its sponsorship deal for the sports arena and convention center in May 2024, agreeing to pay $1.8 million in base naming rights fees over the three-year term of the deal, plus incentive bonuses tied to performance metrics.
Prior to the upcoming January merger, DCU sits as the largest credit union in Central Massachusetts, according to data provided to the WBJ Research Department. DCU has $12.91 billion in assets, with 1,653 employees and 23 locations.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
