Pennsylvania-based Wawa Employees' CU to merge into Franklin Mint FCU

The board of Media, Pa.-based Wawa Employees' CU is seeking regulatory approval to merge with Chadds Ford, Pa.-based Franklin Mint FCU, according to information posted on the former's website.

WECU's branch in Media will remain open and will become a new Franklin Mint branch. All WECU staff members are joining the Franklin Mint team.

The targeted merger date is sometime during the second quarter of 2022. The parties expect the transaction to be approved by the National Credit Union Administration and the Pennsylvania Department of Banking in January 2022.

Terms of the transaction were not disclosed in the website announcement.

If approved, WECU member-owners will receive a formal notice of the merger request and ballot to vote on the merger.

As of Sept. 30, Wawa Employees' CU had $23.8 million in total assets and Franklin Mint had $1.56 billion in assets, according to S&P Global Market Intelligence data.

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