Chicopee Bancorp

About Chicopee Bancorp

The story of Chicopee Bancorp is a classic tale of local banking evolution, rooted in serving its community for generations. While the original Chicopee Bank was chartered back in 1836, with George Bliss as its first president, the modern holding company known as Chicopee Bancorp, Inc. was the parent of Chicopee Savings Bank. For decades, it operated as a cornerstone financial institution in Hampden County, Massachusetts. The bank focused on traditional services, building a loyal customer base throughout western Massachusetts. The narrative took a significant turn in 2016. In a move to create a stronger regional player, Chicopee Bancorp, Inc. entered into a definitive merger agreement with Westfield Financial, Inc., the holding company for Westfield Bank. The friendly acquisition was valued at approximately $110 million. This deal marked the first in-market merger in Hampden County in over 25 years, combining two institutions with deep local roots stretching back to the 1850s. The transaction, which closed in October 2016, saw Chicopee Savings Bank merge into Westfield Bank. The combined entity became the largest locally managed bank in the county, with the holding company being renamed Western New England Bancorp, Inc. The Chicopee Savings Bank Charitable Foundation was preserved, ensuring its philanthropic mission would continue in the local area.