Merger News
Dear WECU Member-Owners:
In a strategic effort to provide you greater convenience and enhanced products and services, the Wawa Employees’ Credit Union (WECU) Board of Directors voted to seek regulatory approval to merge with Franklin Mint Federal Credit Union (FMFCU). Small credit unions are facing unprecedented regulatory, cyber security, and economic pressures to remain viable and profitable. This merger with FMFCU ensures strong, comprehensive credit union services continue for WECU member-owners now and in the future. The targeted merger date is sometime during the second quarter of 2022.
Headquartered in Chadds Ford, Delaware County, FMFCU has 16 branches in the greater Philadelphia region. Wawa, Inc. and FMFCU intend to keep the current WECU branch in Media open and for it to become a new FMFCU Branch. All WECU employees are joining the FMFCU Team. For WECU member-owners outside the area, FMFCU operates a dedicated call center, participates in a nationwide shared branch and ATM network, and has a robust online account opening/loan platform.
It is our anticipation approval for this merger from the National Credit Union Administration and Pennsylvania Department of Banking occurs in January 2022. If approved, WECU member-owners will receive a formal notice of the merger request and ballot to vote for or against the merger. It is our hope you cast a vote to approve.
Expanding on why the merger, FMFCU offers WECU member-owners additional branches for in-person banking, attractive deposit and loan rates, robust online/mobile banking, and wealth management services through Mint Wealth Advisors. FMFCU has a renowned history and core values matching those of WECU.
In closing, I am proud Wawa Employees’ Credit Union has served our member-owners for 45 years. Pending regulatory approval and your vote, a period of transition will ensue before this exciting merger is complete. Rest assured, more information is coming your way in the weeks and months ahead.
Best Wishes Always,
Sara Dougherty
Board Treasurer/Credit Union Manager
