EAST HARTFORD, CONN. – February 21, 2024 – American Eagle Financial Credit Union (AEFCU) and Hartford-based Wellness Federal Credit Union (WFCU) have filed papers to merge, following votes by their respective Board of Directors to combine forces. If approved by state and federal regulators, and WFCU members, the WFCU’s employees, branches and members will become part of AEFCU.
AEFCU is Connecticut’s largest community credit union, chartered by the state and serving anyone who lives, works, attends school, or worships in Hartford, Middlesex, Tolland, and New Haven County in Connecticut, and Hampden County in Massachusetts. WFCU is a federal credit union and serves employees, contractors and self-employed people in the healthcare industry statewide. It has its origins in Hartford Hospital and was once known as the Hartford Hospital Employees Credit Union.
“AEFCU is guided by our mission to enrich the lives of our communities and create a world where financial freedom is a reality. Since credit unions are community builders, joining forces with Wellness gives us a presence in Hartford in order to help our new and prospective members build their financial health and reach their goals,” said AEFCU President and CEO Howard Brady.
Cheryl Calabrese, CEO of WFCU said, “We are excited about the opportunity to merge with AEFCU. Our members have been requesting more digital banking options, branch locations, and access to no-fee ATMs for several years. It has become increasingly difficult for our small credit union to meet these demands and our partnership with AEFCU will satisfy these needs, expand our products and services, and ensure long-term sustainability within the industry.”
When the merger is approved by the National Credit Union Administration, the Connecticut Department of Banking and WFCU members, WFCU’s two branches, members and team members will become part of AEFCU.
Calabrese said that AEFCU will be able to offer “a broad range of products and services to our existing and potential members working in healthcare,” including:
- Expanded branch locations
- Extended branch hours
- Access to a large surcharge-free ATM network
- IRA and Certificate of Deposit accounts
- Higher dividend rates
- Residential mortgage loans including first time home buyer programs
- Improved fraud monitoring services
- Online account opening
- Person-to-person payments
- Financial education seminars and programs.
“This is good news for AEFCU, WFCU, and for growing the credit union advantage in greater Hartford,” Brady concluded. “We look forward to welcoming WFCU members and team members into AEFCU and delivering financial freedom for the communities we serve.”
About AEFCU: Established in 1935, American Eagle Financial Credit Union (AEFCU) is a full-service credit union offering checking and savings accounts, credit cards, auto loans, mortgages, business accounts and more. AEFCU offers banking online, through its mobile app, or at one of its 14 branches located in Connecticut. AEFCU has more than 183,000 members, $2.7 billion in assets, and offers banking services to anyone who lives, works, attends school, or worships in Hartford, Middlesex, Tolland, and New Haven County in Connecticut, and Hampden County in Massachusetts. For more information about American Eagle Financial Credit Union, visit www.americaneagle.org.
About WFCU: Established in 1955 as Hartford Hospital Employees Credit Union, the credit union gave hard-working people employed at the hospital an opportunity to control their financial lives and plan for their future. Since then, our guiding principle has been to provide products that allow members to manage their finances, while delivering exceptional service. In 2016, our field of membership expanded to all employees, independent contractors, or self-employed persons who work regularly in the health care industry throughout the state of Connecticut, followed by a name change in 2018, to Wellness Federal Credit Union.
Questions: email marketing@wellnessfcu.org