WFCU is excited about the proposed merger with American Eagle Financial Credit Union.
American Eagle Financial Credit Union (AEFCU) and Wellness Federal Credit Union (WFCU) have received approval for the proposed merger from their respective Board of Directors and the federal regulators. The next step is holding a WFCU member vote, followed by state regulatory approval.
MEMBER VOTE
The member vote is happening now. All WFCU members, who are at least 18 years of age as of April 18, 2024, were mailed a packet with a letter inviting them to attend a Special Merger Meeting to vote on the merger and a ballot. Members are encouraged to vote, regardless if they can attend the meeting or not. Ballots may be mailed or dropped off to our main office or brought in-person to the Special Merger Meeting. All ballots are due June 20, 2024 by 4:30 p.m.
Special Merger Meeting
June 20, 2024
4:30 p.m.
15 Van Dyke Ave., Hartford
How do I vote?
All WFCU members, who are at least 18 years of age as of 4/18/24, were mailed a packet with a ballot and a letter inviting them to a Special Merger Meeting. Ballots may be mailed or dropped off to our main office or brought in-person to the Special Merger Meeting. Copy of the Special Merger Meeting notice is available by clicking on the button below. If you lost your ballot email us at contactus@wellnessfcu.org
Remember… All ballots are due by June 20, 2024 by 4:30 p.m.
Notice of Special Meeting Letter
Upon receiving all approvals, WFCU’s employees, branches and members will become part of AEFCU.
PLEASE NOTE: After approvals, the two computer systems and the member accounts will not be integrated until 4th quarter 2024.
A YES vote will bring members many NEW BENEFITS
IMPROVED ACCESS
MORE PRODUCTS
MORE CONVENIENCE
- Automatic online loan decision
- Instant issue debit cards at the branches
- Integration with 3rd-party software to help budget and analyze spending
- Person-to-person payments
- External transfers
- Robust online banking platform and mobile banking app
FINANCIAL EDUCATION & PROGRAMS
COMMUNITY INVOLVEMENT
- American Eagle is deeply involved in the communities it serves, creating value by the contributions it makes and the causes it supports through charitable contributions and employee volunteering.
- The AEFCU Fund – Sponsors and donates to local organizations
- Volunteering: – American Eagle’s staff is given opportunities—and encouraged—to donate time to various organizations
- AEFCU’s Cash Back to Community program donates one percent of its credit and debit card interchange income to nonprofit and/or 501(c)(3) organizations each quarter. To date, the program has generated more than $405,000 in donations.
FAQs
We realize members have many questions about the merger. However, we are in the middle of the merger process and details are still evolving. As information becomes available, we will update this webpage. For now, below are answers to some basic questions that we hope will help WFCU members understand how much they will benefit from the proposed merger.
Who is American Eagle FCU?
American Eagle is a local Community Credit Union founded in 1935. It serves members in the Hartford, Tolland, Middlesex and New Haven Counties in Connecticut and Hampden County in Massachusetts. They have 14 branches and serve over 180,000 Members.
Why is the WFCU Board of Directors recommending a merger?
WFCU has experienced declining membership and assets in recent years, and in order to reverse this trend we need to invest in new products and services and robust digital technologies. This is a difficult task for a credit union of our size. Therefore, we feel a merger will better serve our members in the long term.
Who has already approved the merger?
The Boards of Directors of both organizations have unanimously approved the merger. The federal regulators have approved the merger. The next step is to receive approval from WFCU members and state regulators.
How do I get more information about AEFCU?
Visit americaneagle.org.
When will the member vote results be available?
We will announce the results of the vote on this web page shortly after June 20, 2024.
When will the state regulators approve the merger?
We expect to receive state approval about one week following the final member vote tally.
Will I be a member of AEFCU credit union as soon as the merger is approved?
Yes. You will automatically become a member of American Eagle FCU, however, the accounts will not be combined into AEFCU’s system until 4th quarter 2024. This means that you cannot be serviced at AEFCU branches until after the operating systems have been integrated in the 4th quarter 2024. For now, please continue to utilize WFCU branches only.
When can I start utilizing AEFCU services and branches?
Once the operating systems have been integrated, planned for 4th quarter 2024, you may utilize all of AEFCU services and visit any of the AEFCU branch locations. For the time being, please continue to utilize WFCU branches only.
Will my branches still be open?
The main branch located at 15 Van Dyke Ave will remain open and we expect the branch located at Hartford Hospital to remain open as well. After the merger, you will also have access to all 14 AEFCU branches.
What will my credit union be called?
When the merger is approved and the systems are merged (by the end of 4th quarter), the new name will be American Eagle Financial Credit Union.
What will happen to WFCU staff?
As part of the merger agreement, all WFCU employees will be offered employment at AEFCU.
Will my personal information be protected with the changeover?
Yes. Your personal information will be protected. American Eagle has high standards when it comes to protecting members identification.
Will my account numbers change? Do I need to order new checks? Will I get a new Debit/Credit Card?
We will be reviewing all the products and determine what may change. We will notify you of any changes in advance of any required changes.
What will happen with my existing automatic bill payments?
We will be reviewing all digital services and determine what may change. We will notify you of any changes in advance of any required changes.
Will this still be a healthcare-focused credit union?
After the merger, American Eagle will expand its field of membership to include all individuals in the Connecticut healthcare industry. AEFCU and WFCU share a community focus and both strive to meet their member’s financial needs at all phases of their lives. AEFCU demonstrates this through its mission:
Enriching the lives of our communities and members to create a world where financial freedom is a reality.
Who should I contact if I have additional questions or concerns?
Cheryl Calabrese, CEO of Wellness Federal Credit Union at cheryl.calabrese@wellnessfcu.org.