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ArlingtonBusinessArlington, Alexandria credit unions prep merger

Arlington, Alexandria credit unions prep merger

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Arlington Community Federal Credit Union (FCU) has announced plans to seek regulatory approval to merge with Alexandria-based InFirst Federal Credit Union, resulting in an organization with combined assets of more than $700 million.

As part of the merger process, Arlington Community FCU will determine and announce a name for the combined credit union before merger completion. Karen Rosales, president and CEO of Arlington Community FCU, will be the CEO of the merged entity. Martha (Marty) Wye, president and CEO of InFirst FCU, will be retiring by year’s end.

Upon completion of the merger, Arlington Community FCU will extend employment offers to all InFirst employees, creating a combined workforce of 140. In addition, two members of InFirst’s board of directors will continue to serve as directors of the combined Arlington Community FCU board.

“We are looking forward to welcoming InFirst’s members and staff. Our organizations have long shared a passion for financial empowerment, member-centric service and community support,” Rosales said. “If the merger proceeds, our collective members, employees and communities will benefit from the strength and synergy of our combined workforces, enhanced products and services, economies of scale and new technologies.”

“We are excited to combine our resources with a credit union that mirrors our long history of helping people achieve their financial goals,” Wye added. “This merger will allow us to maximize efficiencies and enhance products and delivery channels to our members while retaining our entire team, programs and services, and existing locations. We share a deep-rooted philosophy of giving back to the communities we are honored to serve.”

At present, Arlington Community Federal Credit Union has branches in Arlington, Alexandria and Falls Church, while InFirst FCU has branches in Virginia (Alexandria, Fredericksburg, King George, Roanoke and Salem), the District of Columbia and Marlow Heights, Md. All branches are expected to remain in operation following the merger.

The proposed merger requires approval by the National Credit Union Administration and must also be approved by InFirst FCU’s members, with an anticipated effective date of early 2023. Until then, both organizations will maintain normal business operations serving their respective members at all existing branch locations.

For more on the proposal, see the Website at ArlingtonCU.org/merger.

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